Exelixis, Inc. (NASDAQ:EXEL) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Exelixis, Inc. (NASDAQ:EXEL) have earned an average recommendation of “Hold” from the twenty-three ratings firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $46.9444.

A number of equities analysts have recently issued reports on EXEL shares. Truist Financial raised Exelixis to a “strong-buy” rating in a report on Wednesday, March 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of Exelixis in a research report on Thursday, January 22nd. Wall Street Zen upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 14th. UBS Group set a $41.00 price objective on Exelixis in a report on Monday, January 5th. Finally, Citigroup downgraded shares of Exelixis from a “market outperform” rating to an “underperform” rating in a research note on Monday, January 5th.

Insider Activity

In other Exelixis news, Director Jack L. Wyszomierski sold 99,574 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 value of $4,382,251.74. Following the transaction, the director directly owned 279,942 shares in the company, valued at $12,320,247.42. The trade was a 26.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $44.50, for a total transaction of $2,132,351.00. Following the sale, the executive vice president directly owned 616,106 shares of the company’s stock, valued at approximately $27,416,717. The trade was a 7.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 362,849 shares of company stock worth $15,917,463 over the last ninety days. Corporate insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

A number of hedge funds and other institutional investors have recently bought and sold shares of EXEL. Farallon Capital Management LLC boosted its stake in Exelixis by 21.6% in the third quarter. Farallon Capital Management LLC now owns 19,501,500 shares of the biotechnology company’s stock worth $805,412,000 after purchasing an additional 3,466,000 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Exelixis by 48.8% in the fourth quarter. AQR Capital Management LLC now owns 13,658,388 shares of the biotechnology company’s stock valued at $598,647,000 after buying an additional 4,477,029 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Exelixis by 1.6% in the fourth quarter. Invesco Ltd. now owns 6,054,743 shares of the biotechnology company’s stock valued at $265,379,000 after buying an additional 94,218 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Exelixis by 42.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 5,262,643 shares of the biotechnology company’s stock valued at $231,951,000 after buying an additional 1,580,567 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Exelixis by 1.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,259,677 shares of the biotechnology company’s stock worth $186,705,000 after buying an additional 78,765 shares in the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Stock Up 1.0%

NASDAQ EXEL opened at $41.95 on Tuesday. Exelixis has a twelve month low of $32.38 and a twelve month high of $49.62. The stock has a market cap of $10.89 billion, a P/E ratio of 15.14, a PEG ratio of 0.93 and a beta of 0.41. The company’s 50-day simple moving average is $42.73 and its 200 day simple moving average is $42.01.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, February 10th. The biotechnology company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.20. The firm 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%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 earnings per share. Research analysts anticipate that Exelixis will post 2.04 earnings per share for the current year.

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.