Exelixis, Inc. (NASDAQ:EXEL) Given Average Recommendation of “Moderate Buy” by Brokerages

Exelixis, Inc. (NASDAQ:EXEL) has earned a consensus rating of “Moderate Buy” from the seventeen research firms that are presently covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $26.13.

A number of equities analysts recently commented on EXEL shares. Royal Bank of Canada boosted their price objective on shares of Exelixis from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. TheStreet raised Exelixis from a “c+” rating to a “b-” rating in a research report on Monday, March 18th. TD Cowen raised their price target on shares of Exelixis from $25.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. HC Wainwright reiterated a “buy” rating and set a $28.00 price objective on shares of Exelixis in a research note on Friday, May 3rd. Finally, JMP Securities restated a “market outperform” rating and set a $27.00 price target on shares of Exelixis in a research note on Wednesday, April 10th.

Exelixis Stock Up 0.8 %

EXEL opened at $20.57 on Friday. The stock’s fifty day moving average is $22.64 and its two-hundred day moving average is $22.29. The company has a market capitalization of $6.24 billion, a P/E ratio of 32.14, a PEG ratio of 0.51 and a beta of 0.57. Exelixis has a 52 week low of $18.64 and a 52 week high of $24.34.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, April 30th. The biotechnology company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.16). The firm had revenue of $425.23 million during the quarter, compared to the consensus estimate of $461.04 million. Exelixis had a net margin of 11.10% and a return on equity of 8.85%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.12 earnings per share. Equities analysts anticipate that Exelixis will post 1.16 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Alan M. Garber sold 19,205 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $24.01, for a total value of $461,112.05. Following the completion of the transaction, the director now owns 35,703 shares of the company’s stock, valued at approximately $857,229.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Alan M. Garber sold 19,205 shares of Exelixis stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $24.01, for a total transaction of $461,112.05. Following the completion of the transaction, the director now directly owns 35,703 shares in the company, valued at $857,229.03. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director George Poste sold 11,686 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $20.96, for a total value of $244,938.56. Following the completion of the sale, the director now owns 213,907 shares in the company, valued at approximately $4,483,490.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,814 shares of company stock valued at $939,475. Company insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. increased its stake in shares of Exelixis by 31.5% in the 3rd quarter. American Century Companies Inc. now owns 1,410,113 shares of the biotechnology company’s stock valued at $30,811,000 after purchasing an additional 338,021 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Exelixis by 236.3% during the 4th quarter. State of Alaska Department of Revenue now owns 127,287 shares of the biotechnology company’s stock worth $3,053,000 after buying an additional 89,436 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of Exelixis by 244.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 118,359 shares of the biotechnology company’s stock valued at $2,839,000 after buying an additional 83,999 shares in the last quarter. Advisors Preferred LLC purchased a new stake in Exelixis in the 4th quarter worth $3,384,000. Finally, Seven Eight Capital LP raised its position in Exelixis by 61.7% during the third quarter. Seven Eight Capital LP now owns 21,765 shares of the biotechnology company’s stock worth $476,000 after acquiring an additional 8,305 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

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.