Exelixis (NASDAQ:EXEL) Rating Reiterated by JMP Securities

Exelixis (NASDAQ:EXEL)‘s stock had its “market outperform” rating restated by JMP Securities in a research report issued on Friday, Benzinga reports. They presently have a $29.00 target price on the biotechnology company’s stock. JMP Securities’ target price would indicate a potential upside of 9.77% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. StockNews.com upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 13th. HC Wainwright reiterated a “buy” rating and set a $29.00 target price on shares of Exelixis in a report on Wednesday. UBS Group started coverage on Exelixis in a report on Thursday. They set a “neutral” rating and a $30.00 target price on the stock. Truist Financial reiterated a “buy” rating and set a $33.00 target price (up previously from $32.00) on shares of Exelixis in a report on Thursday, August 8th. Finally, Oppenheimer reiterated an “outperform” rating and set a $29.00 target price on shares of Exelixis in a report on Tuesday, July 30th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $27.67.

Exelixis Trading Down 1.5 %

Shares of EXEL stock opened at $26.42 on Friday. The company has a market cap of $8.01 billion, a price-to-earnings ratio of 41.28, a price-to-earnings-growth ratio of 0.58 and a beta of 0.54. The stock has a 50 day simple moving average of $25.20 and a 200-day simple moving average of $23.35. Exelixis has a 12-month low of $18.64 and a 12-month high of $27.83.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.44. The business had revenue of $637.18 million for the quarter, compared to analysts’ expectations of $468.21 million. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. On average, equities analysts forecast that Exelixis will post 1.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Dana Aftab sold 95,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total value of $2,375,000.00. Following the transaction, the executive vice president now directly owns 520,990 shares of the company’s stock, valued at approximately $13,024,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Exelixis news, EVP Dana Aftab sold 95,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total value of $2,375,000.00. Following the transaction, the executive vice president now directly owns 520,990 shares of the company’s stock, valued at $13,024,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maria C. Freire sold 8,250 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $26.56, for a total value of $219,120.00. Following the completion of the transaction, the director now directly owns 91,007 shares in the company, valued at $2,417,145.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 302,858 shares of company stock valued at $7,980,629. 2.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EXEL. Fisher Asset Management LLC raised its position in Exelixis by 232.6% in the fourth quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 728 shares during the period. Rise Advisors LLC purchased a new stake in shares of Exelixis during the first quarter worth about $28,000. Park Place Capital Corp purchased a new stake in shares of Exelixis during the second quarter worth about $45,000. GAMMA Investing LLC increased its position in shares of Exelixis by 107.9% during the second quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 1,041 shares during the last quarter. Finally, EntryPoint Capital LLC increased its position in shares of Exelixis by 537.2% during the first quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock worth $49,000 after acquiring an additional 1,746 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

About Exelixis

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.