Exelixis, Inc. (NASDAQ:EXEL) Receives $47.35 Average PT from Brokerages

Shares of Exelixis, Inc. (NASDAQ:EXEL) have received a consensus recommendation of “Hold” from the twenty-three research firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $47.3529.

Several equities research analysts recently weighed in on EXEL shares. Royal Bank Of Canada cut their price objective on Exelixis from $46.00 to $43.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. Wells Fargo & Company raised their price objective on Exelixis from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Barclays raised their target price on Exelixis from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Monday, April 20th. TD Cowen raised their target price on Exelixis from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Zacks Research lowered Exelixis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th.

Insider Buying and Selling at Exelixis

In related news, CFO Christopher J. Senner sold 34,901 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $50.00, for a total transaction of $1,745,050.00. Following the completion of the transaction, the chief financial officer directly owned 952,317 shares of the company’s stock, valued at $47,615,850. This trade represents a 3.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George Poste sold 60,000 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $45.71, for a total value of $2,742,600.00. Following the transaction, the director directly owned 118,832 shares of the company’s stock, valued at approximately $5,431,810.72. This represents a 33.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 161,982 shares of company stock worth $7,742,501 over the last 90 days. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Anchor Investment Management LLC raised its position in shares of Exelixis by 500.0% in the 3rd quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 500 shares in the last quarter. Motiv8 Investments LLC bought a new position in shares of Exelixis in the 4th quarter worth about $26,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Exelixis in the 1st quarter worth about $27,000. Root Financial Partners LLC bought a new position in shares of Exelixis in the 3rd quarter worth about $28,000. Finally, Western Wealth Management LLC bought a new position in shares of Exelixis in the 1st quarter worth about $29,000. 85.27% of the stock is owned by institutional investors.

Exelixis Stock Down 0.3%

NASDAQ EXEL opened at $49.98 on Wednesday. Exelixis has a twelve month low of $33.76 and a twelve month high of $51.63. The company has a market cap of $12.56 billion, a price-to-earnings ratio of 16.60, a price-to-earnings-growth ratio of 1.06 and a beta of 0.38. The business’s fifty day moving average is $45.46 and its 200 day moving average is $44.04.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.12. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The company had revenue of $610.81 million for the quarter, compared to the consensus estimate of $607.51 million. During the same quarter last year, the business posted $0.55 EPS. Exelixis’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, research analysts anticipate that Exelixis will post 3.15 earnings per share 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.