Exelixis, Inc. (NASDAQ:EXEL) Receives Consensus Rating of “Hold” from Analysts

Shares of Exelixis, Inc. (NASDAQ:EXEL) have earned an average rating of “Hold” from the twenty-three ratings firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $47.3529.

A number of research analysts have recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Exelixis in a report on Tuesday, May 19th. Royal Bank Of Canada decreased their price target on Exelixis from $46.00 to $43.00 and set a “sector perform” rating for the company in a report on Monday, March 2nd. TD Cowen boosted their price objective on shares of Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Morgan Stanley raised their target price on shares of Exelixis from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Finally, Zacks Research lowered shares of Exelixis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th.

Insider Buying and Selling at Exelixis

In other news, EVP Patrick J. Haley sold 32,110 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $49.81, for a total value of $1,599,399.10. Following the completion of the sale, the executive vice president directly owned 357,638 shares of the company’s stock, valued at $17,813,948.78. This trade represents a 8.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Christopher J. Senner sold 34,901 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $50.00, for a total value of $1,745,050.00. Following the completion of the transaction, the chief financial officer owned 952,317 shares of the company’s stock, valued at $47,615,850. The trade was a 3.54% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 219,170 shares of company stock worth $10,620,641. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Exelixis by 81.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,181 shares of the biotechnology company’s stock worth $1,592,000 after acquiring an additional 19,407 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Exelixis by 4.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company’s stock worth $54,153,000 after purchasing an additional 68,133 shares during the last quarter. Focus Partners Wealth boosted its position in Exelixis by 83.4% during the first quarter. Focus Partners Wealth now owns 38,458 shares of the biotechnology company’s stock worth $1,420,000 after purchasing an additional 17,483 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Exelixis by 134.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 944 shares in the last quarter. Finally, Sivia Capital Partners LLC grew its holdings in Exelixis by 23.8% in the second quarter. Sivia Capital Partners LLC now owns 14,362 shares of the biotechnology company’s stock valued at $633,000 after purchasing an additional 2,764 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Exelixis Stock Performance

Shares of NASDAQ:EXEL opened at $51.91 on Friday. Exelixis has a one year low of $33.76 and a one year high of $53.93. The stock has a market capitalization of $13.05 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 1.51 and a beta of 0.41. The company has a 50-day simple moving average of $48.66 and a 200-day simple moving average of $45.15.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.12. The firm had revenue of $610.81 million for the quarter, compared to analyst estimates of $607.51 million. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The business’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the company posted $0.55 earnings per share. As a group, research analysts forecast that Exelixis will post 3.16 EPS for the current fiscal year.

Exelixis Company Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.