Exelixis (NASDAQ:EXEL) Sets New 52-Week High at $24.36

Exelixis, Inc. (NASDAQ:EXEL)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $24.36 and last traded at $24.24, with a volume of 1459765 shares changing hands. The stock had previously closed at $23.45.

Wall Street Analysts Forecast Growth

EXEL has been the subject of a number of recent analyst reports. Barclays lowered shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price target for the company. in a research report on Thursday, April 11th. Stephens initiated coverage on shares of Exelixis in a research report on Tuesday, May 14th. They set an “equal weight” rating and a $23.00 price target for the company. JMP Securities restated a “market outperform” rating and set a $27.00 price target on shares of Exelixis in a research report on Wednesday, April 10th. TD Cowen boosted their price target on shares of Exelixis from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, William Blair restated an “outperform” rating on shares of Exelixis in a research report on Wednesday, May 1st. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Exelixis currently has a consensus rating of “Moderate Buy” and an average target price of $26.13.

Exelixis Stock Up 3.3 %

The firm has a market cap of $7.34 billion, a PE ratio of 36.64, a PEG ratio of 0.57 and a beta of 0.54. The stock’s fifty day simple moving average is $22.07 and its two-hundred day simple moving average is $22.19.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.16). Exelixis had a net margin of 11.10% and a return on equity of 8.85%. The firm had revenue of $425.23 million for the quarter, compared to analysts’ expectations of $461.04 million. During the same quarter in the previous year, the company earned $0.12 EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities research analysts anticipate that Exelixis, Inc. will post 1.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jack L. Wyszomierski sold 10,923 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $21.37, for a total value of $233,424.51. Following the sale, the director now owns 338,948 shares in the company, valued at $7,243,318.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Exelixis news, Director George Poste sold 11,686 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $20.96, for a total value of $244,938.56. Following the transaction, the director now directly owns 213,907 shares in the company, valued at $4,483,490.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jack L. Wyszomierski sold 10,923 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $21.37, for a total transaction of $233,424.51. Following the completion of the transaction, the director now owns 338,948 shares in the company, valued at $7,243,318.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,896 shares of company stock worth $660,677. 2.85% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Fisher Asset Management LLC raised its position in shares of Exelixis by 232.6% during the 4th quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 728 shares during the period. GAMMA Investing LLC bought a new stake in shares of Exelixis during the 4th quarter valued at $27,000. Rise Advisors LLC bought a new stake in shares of Exelixis during the 1st quarter valued at $28,000. Park Place Capital Corp bought a new stake in shares of Exelixis during the 2nd quarter valued at $45,000. Finally, USA Financial Formulas raised its position in shares of Exelixis by 1,548.0% during the 4th quarter. USA Financial Formulas now owns 2,060 shares of the biotechnology company’s stock valued at $49,000 after purchasing an additional 1,935 shares during the period. 85.27% of the stock is currently owned by institutional investors.

About Exelixis

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.