Exelixis (NASDAQ:EXEL) Rating Lowered to Buy at StockNews.com

StockNews.com downgraded shares of Exelixis (NASDAQ:EXELGet Rating) from a strong-buy rating to a buy rating in a research report sent to investors on Wednesday morning.

Several other equities analysts have also recently weighed in on EXEL. Jefferies Financial Group initiated coverage on Exelixis in a research report on Thursday, May 12th. They issued a buy rating and a $28.00 price target for the company. TheStreet upgraded Exelixis from a c rating to a b- rating in a research report on Monday, February 28th. Piper Sandler reduced their target price on Exelixis from $34.00 to $30.00 in a research report on Monday, March 14th. Finally, HC Wainwright reduced their target price on Exelixis from $52.00 to $42.00 and set a buy rating for the company in a research report on Friday, February 18th. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to MarketBeat, Exelixis has an average rating of Buy and a consensus target price of $31.13.

Shares of NASDAQ EXEL opened at $19.49 on Wednesday. The stock has a market cap of $6.25 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 0.62 and a beta of 0.74. Exelixis has a fifty-two week low of $15.50 and a fifty-two week high of $24.75. The stock has a fifty day moving average of $21.87 and a 200-day moving average of $19.65.

Exelixis (NASDAQ:EXELGet Rating) last announced its quarterly earnings results on Tuesday, May 10th. The biotechnology company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.07. The company had revenue of $356.00 million during the quarter, compared to analysts’ expectations of $363.22 million. Exelixis had a return on equity of 13.77% and a net margin of 19.60%. Exelixis’s revenue for the quarter was up 31.7% on a year-over-year basis. Analysts predict that Exelixis will post 0.88 EPS for the current fiscal year.

In other news, Director Stelios Papadopoulos sold 84,515 shares of the business’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan M. Garber sold 21,301 shares of the business’s stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $21.00, for a total value of $447,321.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 185,229 shares of company stock valued at $3,728,516. Corporate insiders own 2.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its stake in shares of Exelixis by 26.4% during the fourth quarter. SG Americas Securities LLC now owns 103,060 shares of the biotechnology company’s stock valued at $1,884,000 after buying an additional 21,503 shares during the period. Jefferies Group LLC increased its stake in shares of Exelixis by 49.2% during the third quarter. Jefferies Group LLC now owns 69,000 shares of the biotechnology company’s stock valued at $1,459,000 after buying an additional 22,739 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Exelixis by 31.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,639 shares of the biotechnology company’s stock valued at $798,000 after buying an additional 10,327 shares during the period. Squarepoint Ops LLC increased its stake in shares of Exelixis by 32.7% during the third quarter. Squarepoint Ops LLC now owns 359,712 shares of the biotechnology company’s stock valued at $7,604,000 after buying an additional 88,635 shares during the period. Finally, LPL Financial LLC increased its stake in shares of Exelixis by 70.7% during the third quarter. LPL Financial LLC now owns 63,251 shares of the biotechnology company’s stock valued at $1,337,000 after buying an additional 26,188 shares during the period. 82.74% of the stock is 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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Analyst Recommendations for Exelixis (NASDAQ:EXEL)

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