Exelixis (NASDAQ:EXEL) Hits New 1-Year High – Should You Buy?

Exelixis, Inc. (NASDAQ:EXEL)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $50.42 and last traded at $50.01, with a volume of 911924 shares. The stock had previously closed at $48.16.

Analyst Upgrades and Downgrades

EXEL has been the subject of a number of analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Exelixis in a report on Thursday, January 22nd. Stifel Nicolaus upped their price target on Exelixis from $44.00 to $47.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. Wells Fargo & Company upped their price target on Exelixis from $35.00 to $40.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. TD Cowen upped their price target on Exelixis from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Morgan Stanley upped their price target on Exelixis from $49.00 to $50.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $47.83.

Exelixis Stock Performance

The company has a market capitalization of $12.89 billion, a PE ratio of 17.04, a PEG ratio of 1.05 and a beta of 0.38. The company has a 50 day moving average price of $43.72 and a 200 day moving average price of $43.26.

Exelixis (NASDAQ:EXEL) last issued 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 business had revenue of $610.81 million during the quarter, compared to analyst estimates of $607.51 million. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The business’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.55 earnings per share. On average, equities analysts forecast that Exelixis, Inc. will post 3.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jack L. Wyszomierski sold 99,574 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $44.01, for a total transaction of $4,382,251.74. Following the transaction, the director owned 279,942 shares of the company’s stock, valued at approximately $12,320,247.42. This trade represents a 26.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director George Poste sold 60,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $45.71, for a total value of $2,742,600.00. Following the completion of the sale, 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 SEC filing for this sale provides additional information. In the last quarter, insiders have sold 451,195 shares of company stock worth $19,982,874. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Richardson Financial Services Inc. raised its position in shares of Exelixis by 95.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 292 shares in the last quarter. Anchor Investment Management LLC raised its position in shares of Exelixis by 500.0% during the 3rd quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 500 shares in the last quarter. Motiv8 Investments LLC acquired a new stake in shares of Exelixis during the 4th quarter valued at approximately $26,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Exelixis during the 1st quarter valued at approximately $27,000. Finally, Root Financial Partners LLC acquired a new stake in shares of Exelixis during the 3rd quarter valued at approximately $28,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

About Exelixis

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.