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

Shares of Exelixis, Inc. (NASDAQ:EXEL – Get Rating) have received an average recommendation of “Buy” from the ten research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $31.13.

A number of equities research analysts have recently issued reports on EXEL shares. StockNews.com started coverage on Exelixis in a research report on Thursday, March 31st. They set a “strong-buy” rating on the stock. Piper Sandler cut their target price on Exelixis from $34.00 to $30.00 in a research report on Monday, March 14th. TheStreet raised Exelixis from a “c” rating to a “b-” rating in a research report on Monday, February 28th. Finally, HC Wainwright cut their target price on Exelixis from $52.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, February 18th.

Shares of Exelixis stock opened at $22.56 on Friday. The firm has a market cap of $7.22 billion, a price-to-earnings ratio of 31.77, a price-to-earnings-growth ratio of 0.74 and a beta of 0.79. The business has a fifty day simple moving average of $21.33 and a 200-day simple moving average of $19.67. Exelixis has a fifty-two week low of $15.50 and a fifty-two week high of $25.77.

Exelixis (NASDAQ:EXEL – Get Rating) last announced its earnings results on Thursday, February 17th. The biotechnology company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.22. The company had revenue of $451.14 million for the quarter, compared to analyst estimates of $357.17 million. Exelixis had a return on equity of 11.17% and a net margin of 16.10%. As a group, equities research analysts expect that Exelixis will post 0.83 EPS for the current year.

In other Exelixis news, Director Stelios Papadopoulos sold 84,515 shares of the company’s stock in a transaction dated Tuesday, February 22nd. The stock was sold at an average price of $19.56, for a total value of $1,653,113.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jack L. Wyszomierski sold 6,696 shares of the company’s stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $23.00, for a total value of $154,008.00. Following the completion of the transaction, the director now directly owns 273,192 shares in the company, valued at $6,283,416. The disclosure for this sale can be found here. Insiders have sold 205,229 shares of company stock worth $4,017,116 over the last three months. 3.30% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. CWM LLC boosted its stake in shares of Exelixis by 9.8% during the 1st quarter. CWM LLC now owns 5,137 shares of the biotechnology company’s stock worth $116,000 after acquiring an additional 460 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Exelixis by 0.7% during the 3rd quarter. Arizona State Retirement System now owns 85,364 shares of the biotechnology company’s stock worth $1,805,000 after acquiring an additional 557 shares in the last quarter. Pitcairn Co. boosted its stake in shares of Exelixis by 6.0% during the 3rd quarter. Pitcairn Co. now owns 11,584 shares of the biotechnology company’s stock worth $245,000 after acquiring an additional 659 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Exelixis by 3.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 22,937 shares of the biotechnology company’s stock worth $484,000 after acquiring an additional 677 shares in the last quarter. Finally, Rathbone Brothers plc boosted its stake in shares of Exelixis by 4.3% during the 3rd quarter. Rathbone Brothers plc now owns 19,300 shares of the biotechnology company’s stock worth $408,000 after acquiring an additional 800 shares in the last quarter. 82.80% of the stock is currently owned by institutional investors.

Exelixis Company Profile (Get Rating)

Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. The company's products include 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 patients with progressive and metastatic medullary thyroid cancer.

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