Exelixis (NASDAQ:EXEL) Downgraded by Wall Street Zen to Buy

Exelixis (NASDAQ:EXEL) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday.

Several other equities analysts also recently weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Exelixis in a report on Thursday, January 22nd. TD Cowen reiterated a “buy” rating on shares of Exelixis in a research note on Wednesday, November 5th. HC Wainwright raised their target price on shares of Exelixis from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. UBS Group set a $41.00 target price on shares of Exelixis in a research report on Monday, January 5th. Finally, Truist Financial set a $51.00 price target on Exelixis in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $47.11.

Exelixis Price Performance

Shares of EXEL opened at $44.06 on Monday. The firm has a market capitalization of $11.44 billion, a PE ratio of 15.91, a price-to-earnings-growth ratio of 0.99 and a beta of 0.41. Exelixis has a 1-year low of $32.38 and a 1-year high of $49.62. The company’s fifty day moving average price is $44.09 and its 200-day moving average price is $41.48.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.20. The company had revenue of $598.66 million during the quarter, compared to analyst estimates of $609.17 million. Exelixis had a return on equity of 36.29% and a net margin of 33.73%.The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the business posted $0.55 EPS. As a group, research analysts anticipate that Exelixis will post 2.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other Exelixis news, Director Bob Oliver sold 30,250 shares of the stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $43.81, for a total transaction of $1,325,252.50. Following the transaction, the director owned 21,120 shares in the company, valued at approximately $925,267.20. This represents a 58.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Dana Aftab sold 47,918 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $44.50, for a total value of $2,132,351.00. Following the completion of the sale, the executive vice president directly owned 616,106 shares in the company, valued at approximately $27,416,717. The trade was a 7.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 362,849 shares of company stock valued at $15,917,463. Insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Richardson Financial Services Inc. increased its holdings in Exelixis by 95.1% in 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 in the last quarter. Anchor Investment Management LLC grew its position in shares of Exelixis by 500.0% in the third quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 500 shares during the period. Motiv8 Investments LLC purchased a new stake in shares of Exelixis during the fourth quarter worth about $26,000. Root Financial Partners LLC acquired a new position in shares of Exelixis during the 3rd quarter worth about $28,000. Finally, Acumen Wealth Advisors LLC purchased a new position in Exelixis in the 4th quarter valued at about $29,000. 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.