Exelixis (NASDAQ:EXEL) Upgraded at Wall Street Zen

Exelixis (NASDAQ:EXEL) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Sunday.

Other equities analysts have also recently issued reports about the company. Bank of America cut Exelixis from a “neutral” rating to an “underperform” rating and set a $41.00 price target on the stock. in a report on Monday, January 5th. Oppenheimer reissued a “market perform” rating and set a $36.00 target price on shares of Exelixis in a research note on Wednesday, November 5th. Morgan Stanley raised their price target on shares of Exelixis from $48.00 to $49.00 and gave the stock an “equal weight” rating in a report on Monday, February 2nd. Barclays upped their price objective on shares of Exelixis from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Wednesday, February 4th. Finally, Truist Financial set a $51.00 target price on Exelixis in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Exelixis presently has an average rating of “Hold” and a consensus price target of $47.11.

Exelixis Stock Performance

Shares of NASDAQ EXEL opened at $43.63 on Friday. The company’s 50 day moving average price is $43.88 and its 200-day moving average price is $41.22. Exelixis has a 52-week low of $32.38 and a 52-week high of $49.62. The company has a market capitalization of $11.33 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 0.98 and a beta of 0.42.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.20. The company had revenue of $598.66 million during the quarter, compared to analysts’ expectations of $609.17 million. Exelixis had a net margin of 33.73% and a return on equity of 36.29%. Exelixis’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.55 earnings per share. Analysts forecast that Exelixis will post 2.04 earnings per share for the current year.

Insider Activity

In other news, SVP Brenda Hefti sold 18,669 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $44.01, for a total value of $821,622.69. Following the transaction, the senior vice president owned 96,512 shares in the company, valued at $4,247,493.12. This trade represents a 16.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Patrick J. Haley sold 67,814 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $43.52, for a total value of $2,951,265.28. Following the transaction, the executive vice president owned 381,908 shares in the company, valued at approximately $16,620,636.16. This trade represents a 15.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 285,058 shares of company stock worth $12,460,245. Company insiders own 2.82% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Police & Firemen s Retirement System of New Jersey lifted its holdings in shares of Exelixis by 0.3% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 102,581 shares of the biotechnology company’s stock worth $4,521,000 after buying an additional 274 shares in the last quarter. Richardson Financial Services Inc. increased its holdings in Exelixis by 95.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 292 shares during the period. RHS Financial LLC increased its holdings in Exelixis by 2.4% during the 4th quarter. RHS Financial LLC now owns 12,619 shares of the biotechnology company’s stock worth $553,000 after acquiring an additional 293 shares during the period. Meeder Advisory Services Inc. lifted its stake in Exelixis by 5.8% in the 4th quarter. Meeder Advisory Services Inc. now owns 5,406 shares of the biotechnology company’s stock worth $237,000 after purchasing an additional 298 shares in the last quarter. Finally, Cim LLC boosted its holdings in Exelixis by 0.9% in the 3rd quarter. Cim LLC now owns 35,397 shares of the biotechnology company’s stock valued at $1,462,000 after purchasing an additional 305 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Exelixis Company Profile

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.