Exelixis (NASDAQ:EXEL) Stock Rating Lowered by Wall Street Zen

Exelixis (NASDAQ:EXEL) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other research firms also recently weighed in on EXEL. Citigroup restated a “market outperform” rating on shares of Exelixis in a research note on Tuesday, October 21st. Barclays boosted their target price on Exelixis from $40.00 to $41.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 5th. Morgan Stanley raised their price target on Exelixis from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $45.00 price target on shares of Exelixis in a research report on Tuesday, October 21st. Finally, Leerink Partnrs upgraded shares of Exelixis from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $45.45.

Exelixis Stock Down 0.0%

EXEL opened at $44.36 on Friday. Exelixis has a 52 week low of $31.90 and a 52 week high of $49.62. The stock has a market cap of $11.89 billion, a PE ratio of 18.72, a PEG ratio of 0.80 and a beta of 0.40. The business has a 50 day moving average of $40.71 and a 200-day moving average of $40.84.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.68 by $0.10. Exelixis had a net margin of 29.63% and a return on equity of 31.06%. The business had revenue of $597.76 million for the quarter, compared to analyst estimates of $590.04 million. During the same quarter in the previous year, the firm posted $0.47 earnings per share. Exelixis’s quarterly revenue was up 10.8% on a year-over-year basis. Equities analysts anticipate that Exelixis will post 2.04 EPS for the current year.

Insider Activity

In other news, Director Stelios Papadopoulos sold 100,000 shares of Exelixis stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $43.55, for a total value of $4,355,000.00. Following the sale, the director directly owned 1,189,228 shares of the company’s stock, valued at approximately $51,790,879.40. The trade was a 7.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Dana Aftab sold 48,383 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $42.50, for a total value of $2,056,277.50. Following the sale, the executive vice president directly owned 664,778 shares in the company, valued at $28,253,065. This trade represents a 6.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 245,235 shares of company stock worth $10,490,600 over the last ninety days. Company insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

Several hedge funds and other institutional investors have recently bought and sold shares of EXEL. LPL Financial LLC increased its stake in Exelixis by 74.5% in the 1st quarter. LPL Financial LLC now owns 187,097 shares of the biotechnology company’s stock worth $6,908,000 after buying an additional 79,885 shares during the period. Harbour Investments Inc. boosted its position in Exelixis by 900.0% in the 1st quarter. Harbour Investments Inc. now owns 1,100 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 990 shares during the period. PNC Financial Services Group Inc. grew its stake in Exelixis by 5.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 19,005 shares of the biotechnology company’s stock worth $702,000 after acquiring an additional 1,029 shares in the last quarter. Bank of Nova Scotia purchased a new position in shares of Exelixis during the first quarter worth approximately $309,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Exelixis by 2.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,321,407 shares of the biotechnology company’s stock worth $122,626,000 after acquiring an additional 69,054 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

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.