Exelixis (NASDAQ:EXEL) Rating Reiterated by HC Wainwright

Exelixis (NASDAQ:EXEL)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a report released on Monday, TipRanks reports. They currently have a $65.00 target price on the biotechnology company’s stock. HC Wainwright’s price objective points to a potential upside of 227.95% from the company’s current price.

Other analysts have also recently issued research reports about the company. Truist Securities reduced their price objective on Exelixis from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Monday. TheStreet cut Exelixis from a “b-” rating to a “c” rating in a research report on Friday, July 9th. Oppenheimer reduced their price objective on Exelixis from $35.00 to $27.00 and set an “outperform” rating for the company in a research report on Tuesday, June 29th. Finally, Needham & Company LLC cut their target price on Exelixis from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, June 28th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Exelixis currently has a consensus rating of “Buy” and a consensus price target of $34.67.

Shares of Exelixis stock opened at $19.82 on Monday. The stock has a market cap of $6.24 billion, a PE ratio of 68.34, a price-to-earnings-growth ratio of 0.66 and a beta of 1.07. Exelixis has a 12 month low of $16.19 and a 12 month high of $26.50. The business has a fifty day simple moving average of $18.33 and a 200-day simple moving average of $21.19.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Thursday, August 5th. The biotechnology company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.25. The firm had revenue of $385.18 million during the quarter, compared to analysts’ expectations of $296.31 million. Exelixis had a return on equity of 4.89% and a net margin of 8.13%. As a group, research analysts anticipate that Exelixis will post 0.69 earnings per share for the current fiscal year.

In other news, EVP Peter Lamb sold 55,000 shares of Exelixis stock in a transaction dated Monday, August 16th. The stock was sold at an average price of $18.44, for a total value of $1,014,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Patrick J. Haley sold 25,000 shares of Exelixis stock in a transaction dated Thursday, September 16th. The stock was sold at an average price of $20.36, for a total value of $509,000.00. The disclosure for this sale can be found here. Insiders sold 140,000 shares of company stock worth $2,571,400 over the last quarter. 3.30% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. TD Asset Management Inc. boosted its holdings in Exelixis by 34.9% during the first quarter. TD Asset Management Inc. now owns 630,278 shares of the biotechnology company’s stock valued at $14,238,000 after purchasing an additional 163,155 shares in the last quarter. Jupiter Asset Management Ltd. boosted its holdings in Exelixis by 16.7% during the first quarter. Jupiter Asset Management Ltd. now owns 210,000 shares of the biotechnology company’s stock valued at $4,744,000 after purchasing an additional 30,000 shares in the last quarter. Credit Suisse AG boosted its holdings in Exelixis by 7.3% during the first quarter. Credit Suisse AG now owns 473,168 shares of the biotechnology company’s stock valued at $10,689,000 after purchasing an additional 32,219 shares in the last quarter. Brown Advisory Inc. acquired a new stake in Exelixis during the first quarter valued at approximately $4,760,000. Finally, Oak Associates Ltd. OH boosted its holdings in Exelixis by 3.4% during the second quarter. Oak Associates Ltd. OH now owns 99,343 shares of the biotechnology company’s stock valued at $1,810,000 after purchasing an additional 3,228 shares in the last quarter. Hedge funds and other institutional investors own 83.76% of the company’s stock.

Exelixis Company Profile

Exelixis, Inc is a biopharmaceutical company, which engages in the development, commercialization, and discovery of new medicines for the treatment of cancer. It offers products under the brands of COMETRIQ, CABOMETYX, COTELLIC, and MINNEBRO. The company was founded by Corey S. Goodman and Stelios B.

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Analyst Recommendations for Exelixis (NASDAQ:EXEL)

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