Exelixis (NASDAQ:EXEL) Given “Equal Weight” Rating at Stephens

Exelixis (NASDAQ:EXEL)‘s stock had its “equal weight” rating reiterated by stock analysts at Stephens in a report released on Wednesday,Benzinga reports. They currently have a $29.00 price objective on the biotechnology company’s stock. Stephens’ price target points to a potential downside of 17.36% from the stock’s previous close.

A number of other research analysts also recently commented on the stock. BMO Capital Markets downgraded shares of Exelixis from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $36.00 to $40.00 in a research report on Friday, December 20th. The Goldman Sachs Group upgraded Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. Truist Financial boosted their target price on Exelixis from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, January 27th. HC Wainwright reiterated a “buy” rating and issued a $40.00 price objective on shares of Exelixis in a report on Monday, January 27th. Finally, TD Cowen increased their price target on 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 assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.50.

Exelixis Trading Up 7.0 %

EXEL stock traded up $2.28 during mid-day trading on Wednesday, reaching $35.09. 822,996 shares of the stock traded hands, compared to its average volume of 2,427,834. Exelixis has a 52-week low of $20.14 and a 52-week high of $37.59. The stock’s fifty day moving average is $34.30 and its 200-day moving average is $30.71. The company has a market cap of $10.02 billion, a P/E ratio of 22.58, a P/E/G ratio of 0.63 and a beta of 0.53.

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

Insider Transactions at Exelixis

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

Hedge Funds Weigh In On Exelixis

Institutional investors have recently modified their holdings of the business. Norges Bank bought a new stake in Exelixis during the 4th quarter worth approximately $94,867,000. Los Angeles Capital Management LLC boosted its holdings in shares of Exelixis by 124.0% in the third quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock valued at $46,473,000 after buying an additional 991,494 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Exelixis by 82.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company’s stock worth $52,884,000 after acquiring an additional 704,786 shares in the last quarter. Globeflex Capital L P increased its position in shares of Exelixis by 203.8% during the fourth quarter. Globeflex Capital L P now owns 975,151 shares of the biotechnology company’s stock worth $32,473,000 after acquiring an additional 654,200 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Exelixis during the third quarter worth $14,979,000. 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.