Exelixis (NASDAQ:EXEL) Earns Market Outperform Rating from JMP Securities

Exelixis (NASDAQ:EXEL)‘s stock had its “market outperform” rating reiterated by analysts at JMP Securities in a note issued to investors on Thursday,Benzinga reports. They currently have a $41.00 price target on the biotechnology company’s stock. JMP Securities’ target price points to a potential upside of 13.29% from the company’s current price.

Other research analysts also recently issued research reports about the company. Truist Financial boosted their price target on Exelixis from $42.00 to $43.00 and gave the company a “buy” rating in a report on Monday, January 27th. StockNews.com raised Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 19th. Brookline Capital Management began coverage on Exelixis in a research note on Monday, December 23rd. They issued a “buy” rating for the company. Oppenheimer downgraded shares of Exelixis from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $41.00 to $33.00 in a research report on Friday, January 24th. Finally, Barclays raised their target price on shares of Exelixis from $25.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 13th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.59.

Exelixis Price Performance

Shares of Exelixis stock opened at $36.19 on Thursday. The stock has a market capitalization of $10.13 billion, a P/E ratio of 20.45, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. Exelixis has a one year low of $20.14 and a one year high of $40.02. The business’s 50 day simple moving average is $36.44 and its two-hundred day simple moving average is $34.25.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. Sell-side analysts expect that Exelixis will post 2.04 earnings per share for the current fiscal year.

Insider Transactions at Exelixis

In related news, Director Jack L. Wyszomierski sold 8,768 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $37.80, for a total value of $331,430.40. Following the transaction, the director now directly owns 356,605 shares of the company’s stock, valued at approximately $13,479,669. This represents a 2.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Patrick J. Haley sold 10,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $38.80, for a total value of $388,000.00. Following the sale, the executive vice president now owns 341,028 shares in the company, valued at approximately $13,231,886.40. This represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 140,343 shares of company stock valued at $5,177,234. Insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Coppell Advisory Solutions LLC purchased a new position in Exelixis in the 4th quarter worth about $25,000. Colonial Trust Co SC grew its stake in shares of Exelixis by 616.9% in the fourth quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company’s stock worth $30,000 after acquiring an additional 765 shares during the period. Principal Securities Inc. raised its holdings in shares of Exelixis by 62.8% during the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 373 shares during the last quarter. USA Financial Formulas bought a new position in Exelixis during the fourth quarter valued at approximately $32,000. Finally, Kestra Investment Management LLC purchased a new stake in Exelixis in the fourth quarter worth approximately $39,000. 85.27% of the stock is owned by institutional investors.

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.