Exelixis (NASDAQ:EXEL) Research Coverage Started at UBS Group

UBS Group initiated coverage on shares of Exelixis (NASDAQ:EXEL) in a research note issued to investors on Thursday morning, MarketBeat reports. The brokerage issued a neutral rating and a $30.00 target price on the biotechnology company’s stock.

A number of other analysts have also weighed in on EXEL. Royal Bank of Canada reaffirmed an outperform rating and issued a $27.00 price objective on shares of Exelixis in a research note on Wednesday, August 7th. JMP Securities upped their price objective on shares of Exelixis from $27.00 to $29.00 and gave the stock a market outperform rating in a research note on Wednesday, August 7th. Truist Financial reaffirmed a buy rating and issued a $33.00 price objective (up from $32.00) on shares of Exelixis in a research note on Thursday, August 8th. HC Wainwright reissued a buy rating and set a $29.00 price target on shares of Exelixis in a research report on Wednesday. Finally, Oppenheimer reissued an outperform rating and set a $29.00 price target on shares of Exelixis in a research report on Tuesday, July 30th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $27.67.

Exelixis Trading Down 1.5 %

Shares of EXEL opened at $26.42 on Thursday. The firm has a market capitalization of $8.01 billion, a P/E ratio of 41.28, a P/E/G ratio of 0.58 and a beta of 0.54. Exelixis has a 12-month low of $18.64 and a 12-month high of $27.83. The firm has a fifty day moving average price of $25.20 and a 200-day moving average price of $23.35.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data 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. Exelixis had a net margin of 17.38% and a return on equity of 15.54%. The company had revenue of $637.18 million during the quarter, compared to analyst estimates of $468.21 million. Analysts predict that Exelixis will post 1.54 earnings per share for the current year.

Insider Transactions at Exelixis

In other news, CFO Christopher J. Senner sold 125,000 shares of Exelixis stock in a transaction on Friday, August 9th. The shares were sold at an average price of $27.19, for a total transaction of $3,398,750.00. Following the completion of the sale, the chief financial officer now directly owns 721,680 shares in the company, valued at $19,622,479.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Christopher J. Senner sold 125,000 shares of Exelixis stock in a transaction on Friday, August 9th. The shares were sold at an average price of $27.19, for a total transaction of $3,398,750.00. Following the completion of the sale, the chief financial officer now directly owns 721,680 shares in the company, valued at $19,622,479.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Dana Aftab sold 95,000 shares of Exelixis stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total transaction of $2,375,000.00. Following the sale, the executive vice president now owns 520,990 shares of the company’s stock, valued at $13,024,750. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 302,858 shares of company stock worth $7,980,629. Company insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fisher Asset Management LLC lifted its position in Exelixis by 232.6% during 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 acquired a new position in shares of Exelixis in the first quarter worth about $28,000. Park Place Capital Corp acquired a new position in shares of Exelixis in the second quarter worth about $45,000. GAMMA Investing LLC raised its position in shares of Exelixis by 107.9% in 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 period. Finally, EntryPoint Capital LLC raised its position in shares of Exelixis by 537.2% in 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 period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Exelixis Company Profile

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.