Exelixis (NASDAQ:EXEL) Cut to “C+” at TheStreet

TheStreet downgraded shares of Exelixis (NASDAQ:EXELGet Rating) from a b- rating to a c+ rating in a report released on Tuesday, TheStreetRatingsTable reports.

EXEL has been the subject of several other research reports. BMO Capital Markets started coverage on Exelixis in a report on Thursday, June 23rd. They set an outperform rating and a $28.00 price target for the company. Cowen boosted their price target on Exelixis to $26.00 in a report on Monday, August 15th. StockNews.com lowered Exelixis from a strong-buy rating to a buy rating in a report on Wednesday, May 18th. Piper Sandler upped their price objective on Exelixis from $30.00 to $32.00 and gave the stock an overweight rating in a research note on Tuesday, July 26th. Finally, Morgan Stanley upped their price objective on Exelixis from $22.00 to $23.00 and gave the stock an equal weight rating in a research note on Friday, July 15th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $30.56.

Exelixis Stock Performance

NASDAQ:EXEL opened at $17.13 on Tuesday. The stock has a 50-day simple moving average of $19.75 and a two-hundred day simple moving average of $20.44. Exelixis has a 52-week low of $15.50 and a 52-week high of $23.40. The firm has a market capitalization of $5.51 billion, a PE ratio of 20.39, a P/E/G ratio of 0.53 and a beta of 0.65.

Insider Buying and Selling

In related news, EVP Patrick J. Haley sold 40,000 shares of the business’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $17.94, for a total value of $717,600.00. Following the sale, the executive vice president now directly owns 261,591 shares in the company, valued at $4,692,942.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Exelixis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC raised its position in Exelixis by 72.4% during the first quarter. Quadrant Capital Group LLC now owns 1,241 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 521 shares during the period. Total Clarity Wealth Management Inc. purchased a new stake in Exelixis during the second quarter valued at approximately $36,000. Covestor Ltd raised its position in Exelixis by 245.6% during the first quarter. Covestor Ltd now owns 1,676 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 1,191 shares during the period. First Horizon Advisors Inc. raised its position in Exelixis by 296.7% during the second quarter. First Horizon Advisors Inc. now owns 2,440 shares of the biotechnology company’s stock valued at $50,000 after purchasing an additional 1,825 shares during the period. Finally, IndexIQ Advisors LLC bought a new position in shares of Exelixis during the first quarter valued at approximately $61,000. 85.25% of the stock is currently owned by hedge funds and other institutional investors.

About Exelixis

(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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