Exelixis (NASDAQ:EXEL) Rating Increased to Strong-Buy at Wall Street Zen

Exelixis (NASDAQ:EXEL) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Exelixis in a report on Thursday, January 22nd. Barclays increased their target price on shares of Exelixis from $41.00 to $44.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 4th. Wolfe Research began coverage on Exelixis in a research note on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Morgan Stanley boosted their price target on Exelixis from $48.00 to $49.00 and gave the company an “equal weight” rating in a report on Monday, February 2nd. Finally, UBS Group set a $41.00 price target on Exelixis in a research report on Monday, January 5th. Ten equities research analysts have rated the stock with a Buy rating, eleven have issued 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 a consensus rating of “Hold” and a consensus target price of $46.94.

Exelixis Stock Performance

Shares of EXEL stock opened at $41.24 on Friday. The company has a market capitalization of $10.71 billion, a P/E ratio of 14.89, a PEG ratio of 0.92 and a beta of 0.41. Exelixis has a fifty-two week low of $32.38 and a fifty-two week high of $49.62. The stock has a 50 day moving average price of $43.31 and a two-hundred day moving average price of $41.66.

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 the consensus estimate of $0.74 by $0.20. Exelixis had a net margin of 33.73% and a return on equity of 36.29%. The firm had revenue of $598.66 million for the quarter, compared to analysts’ expectations of $609.17 million. During the same quarter last year, the business earned $0.55 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis. As a group, equities analysts predict that Exelixis will post 2.04 earnings per share for the current year.

Insider Activity

In related news, SVP Brenda Hefti sold 18,669 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $44.01, for a total transaction of $821,622.69. Following the transaction, the senior vice president owned 96,512 shares in the company, valued at $4,247,493.12. The trade was a 16.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jack L. Wyszomierski sold 99,574 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $44.01, for a total transaction of $4,382,251.74. Following the completion of the transaction, the director directly owned 279,942 shares of the company’s stock, valued at approximately $12,320,247.42. The trade was a 26.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 362,849 shares of company stock worth $15,917,463. 2.82% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in Exelixis in the fourth quarter worth about $192,000. Wick Capital Partners LLC purchased a new position in shares of Exelixis during the fourth quarter valued at approximately $235,000. Seven Fleet Capital Management LP purchased a new position in shares of Exelixis during the fourth quarter valued at approximately $3,005,000. Van Diest Capital LLC bought a new stake in shares of Exelixis in the 4th quarter worth approximately $340,000. Finally, Invesco Ltd. boosted its position in shares of Exelixis by 1.6% in the 4th quarter. Invesco Ltd. now owns 6,054,743 shares of the biotechnology company’s stock worth $265,379,000 after purchasing an additional 94,218 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

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.