Exelixis’ (EXEL) Equal Weight Rating Reaffirmed at Stephens

Stephens restated their equal weight rating on shares of Exelixis (NASDAQ:EXEL) in a research report sent to investors on Wednesday morning,Benzinga reports. Stephens currently has a $29.00 price target on the biotechnology company’s stock.

Several other equities research analysts have also weighed in on EXEL. Guggenheim reiterated a “buy” rating and set a $42.00 price objective on shares of Exelixis in a research note on Wednesday. Morgan Stanley raised Exelixis from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $30.00 to $40.00 in a report on Monday, January 27th. Royal Bank of Canada restated an “outperform” rating and set a $34.00 price objective on shares of Exelixis in a research note on Wednesday, October 30th. UBS Group increased their target price on Exelixis from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Finally, TD Cowen boosted their price target on shares of Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Exelixis Trading Down 0.0 %

EXEL stock opened at $32.80 on Wednesday. The stock’s 50 day simple moving average is $34.24 and its 200 day simple moving average is $30.72. Exelixis has a 12-month low of $20.14 and a 12-month high of $37.59. The firm has a market cap of $9.37 billion, a P/E ratio of 21.03, a P/E/G ratio of 0.63 and a beta of 0.53.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a return on equity of 20.99% and a net margin of 22.43%. On average, research analysts forecast that Exelixis will post 1.74 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Jeffrey Hessekiel sold 60,000 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the completion of the sale, the executive vice president now owns 486,059 shares in the company, valued at approximately $17,823,783.53. This represents a 10.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Patrick J. Haley sold 41,588 shares of Exelixis stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.36, for a total value of $1,428,963.68. Following the completion of the transaction, the executive vice president now owns 288,665 shares in the company, valued at $9,918,529.40. The trade was a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,588 shares of company stock valued at $3,981,864 over the last quarter. Corporate insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

Several hedge funds have recently modified their holdings of EXEL. V Square Quantitative Management LLC purchased a new position in Exelixis in the 3rd quarter worth about $30,000. USA Financial Formulas purchased a new position in shares of Exelixis in the fourth quarter worth approximately $32,000. Principal Securities Inc. raised its holdings in shares of Exelixis by 62.8% during the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 373 shares during the period. Kestra Investment Management LLC purchased a new stake in shares of Exelixis in the 4th quarter valued at approximately $39,000. Finally, Brooklyn Investment Group acquired a new position in Exelixis in the 3rd quarter worth approximately $42,000. 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.