Exelixis (NASDAQ:EXEL) Coverage Initiated by Analysts at Brookline Capital Management

Brookline Capital Management started coverage on shares of Exelixis (NASDAQ:EXEL) in a research note issued to investors on Monday,Benzinga reports. The firm issued a buy rating on the biotechnology company’s stock.

Several other analysts have also issued reports on EXEL. Piper Sandler upped their target price on Exelixis from $33.00 to $36.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. HC Wainwright reaffirmed a “buy” rating and issued a $29.00 price objective on shares of Exelixis in a research note on Wednesday, September 18th. BMO Capital Markets cut shares of Exelixis from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $36.00 to $40.00 in a research report on Friday. UBS Group started coverage on shares of Exelixis in a research note on Thursday, September 19th. They issued a “neutral” rating and a $30.00 price target for the company. Finally, Guggenheim raised their price objective on Exelixis from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Exelixis has a consensus rating of “Moderate Buy” and an average price target of $32.44.

Exelixis Stock Performance

Exelixis stock opened at $33.48 on Monday. Exelixis has a fifty-two week low of $19.20 and a fifty-two week high of $36.97. The stock has a market cap of $9.56 billion, a P/E ratio of 21.46, a price-to-earnings-growth ratio of 0.89 and a beta of 0.52. The firm’s fifty day moving average price is $33.51 and its 200-day moving average price is $27.63.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The business had revenue of $539.50 million for the quarter, compared to the consensus estimate of $490.31 million. During the same quarter last year, the business posted $0.10 earnings per share. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, analysts predict that Exelixis will post 1.69 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Patrick J. Haley sold 10,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $35.27, for a total value of $352,700.00. Following the completion of the transaction, the executive vice president now directly owns 278,665 shares in the company, valued at $9,828,514.55. This trade represents a 3.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeffrey Hessekiel sold 60,000 shares of Exelixis stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the transaction, the executive vice president now directly owns 486,059 shares of the company’s stock, valued at approximately $17,823,783.53. This trade represents a 10.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 314,736 shares of company stock valued at $10,849,110 over the last three months. Corporate insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

A number of institutional investors and hedge funds have recently made changes to their positions in EXEL. LSV Asset Management boosted its stake in Exelixis by 107.7% in the 2nd quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock worth $129,511,000 after purchasing an additional 2,989,021 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in Exelixis by 124.0% in the third quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock worth $46,473,000 after buying an additional 991,494 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Exelixis in the third quarter worth approximately $14,979,000. Farallon Capital Management LLC grew its holdings in shares of Exelixis by 1.6% during the second quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock valued at $608,993,000 after buying an additional 424,000 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Exelixis by 12.7% during the second quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock valued at $73,425,000 after acquiring an additional 370,199 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Exelixis Company Profile

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers 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 progressive and metastatic medullary thyroid cancer.