Exelixis, Inc. (NASDAQ:EXEL) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Exelixis, Inc. (NASDAQ:EXEL) have been assigned an average rating of “Moderate Buy” from the twenty-seven research firms that are currently covering the firm, Marketbeat.com reports. Eleven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $45.7368.

A number of brokerages have issued reports on EXEL. Wells Fargo & Company decreased their target price on Exelixis from $36.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 21st. Weiss Ratings restated a “buy (b)” rating on shares of Exelixis in a research note on Wednesday, October 8th. HC Wainwright raised their target price on shares of Exelixis from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. TD Cowen lifted their target price on shares of Exelixis from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Finally, Stifel Nicolaus set a $43.00 price target on shares of Exelixis in a report on Wednesday, November 5th.

Exelixis Trading Up 4.1%

Shares of NASDAQ:EXEL opened at $44.30 on Friday. The stock has a market capitalization of $11.88 billion, a PE ratio of 18.69, a P/E/G ratio of 0.80 and a beta of 0.40. Exelixis has a 1 year low of $31.90 and a 1 year high of $49.62. The firm has a fifty day moving average price of $41.10 and a 200 day moving average price of $40.80.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.10. The company had revenue of $597.76 million during the quarter, compared to analysts’ expectations of $590.04 million. Exelixis had a return on equity of 31.06% and a net margin of 29.63%.The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 earnings per share. On average, sell-side analysts forecast that Exelixis will post 2.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Patrick J. Haley sold 28,043 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $42.58, for a total value of $1,194,070.94. Following the completion of the sale, the executive vice president owned 374,029 shares in the company, valued at approximately $15,926,154.82. This trade represents a 6.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary C. Beckerle sold 24,622 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $41.93, for a total value of $1,032,400.46. Following the completion of the sale, the director owned 21,380 shares of the company’s stock, valued at $896,463.40. This represents a 53.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 245,235 shares of company stock worth $10,490,600 in the last 90 days. 2.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On Exelixis

A number of hedge funds and other institutional investors have recently made changes to their positions in EXEL. HighTower Advisors LLC grew its stake in Exelixis by 7.8% during the first quarter. HighTower Advisors LLC now owns 80,998 shares of the biotechnology company’s stock worth $2,990,000 after buying an additional 5,879 shares during the last quarter. American Century Companies Inc. grew its position in Exelixis by 44.9% during the 1st quarter. American Century Companies Inc. now owns 602,615 shares of the biotechnology company’s stock worth $22,249,000 after acquiring an additional 186,750 shares during the last quarter. Raymond James Financial Inc. grew its position in Exelixis by 17.2% during the 1st quarter. Raymond James Financial Inc. now owns 600,026 shares of the biotechnology company’s stock worth $22,153,000 after acquiring an additional 88,147 shares during the last quarter. Wellington Management Group LLP increased its holdings in Exelixis by 7.1% during the 1st quarter. Wellington Management Group LLP now owns 148,198 shares of the biotechnology company’s stock valued at $5,471,000 after purchasing an additional 9,790 shares in the last quarter. Finally, Quantbot Technologies LP raised its position in Exelixis by 38.5% in the 1st quarter. Quantbot Technologies LP now owns 15,358 shares of the biotechnology company’s stock valued at $567,000 after purchasing an additional 4,266 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

About Exelixis

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.