Exelixis (NASDAQ:EXEL) Hits New 52-Week High at $27.71

Exelixis, Inc. (NASDAQ:EXEL)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $27.71 and last traded at $27.61, with a volume of 115970 shares. The stock had previously closed at $27.47.

Wall Street Analyst Weigh In

A number of brokerages recently commented on EXEL. StockNews.com raised Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $27.00 price objective on shares of Exelixis in a research report on Wednesday, August 7th. JMP Securities increased their price target on shares of Exelixis from $27.00 to $29.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 7th. Oppenheimer reiterated an “outperform” rating and set a $29.00 target price on shares of Exelixis in a research note on Tuesday, July 30th. Finally, Truist Financial restated a “buy” rating and set a $33.00 price objective (up previously from $32.00) on shares of Exelixis in a report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $27.43.

Exelixis Price Performance

The business has a 50 day moving average of $24.83 and a 200 day moving average of $23.23. The company has a market cap of $8.36 billion, a PE ratio of 42.92, a price-to-earnings-growth ratio of 0.58 and a beta of 0.54.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.44. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. The business had revenue of $637.18 million for the quarter, compared to analysts’ expectations of $468.21 million. Sell-side analysts forecast that Exelixis, Inc. will post 1.54 EPS for the current fiscal year.

Insider Transactions at Exelixis

In other news, EVP Jeffrey Hessekiel sold 20,000 shares of Exelixis stock in a transaction on Monday, August 26th. The stock was sold at an average price of $25.79, for a total transaction of $515,800.00. Following the completion of the sale, the executive vice president now directly owns 630,325 shares in the company, valued at $16,256,081.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Jeffrey Hessekiel sold 20,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $25.79, for a total transaction of $515,800.00. Following the transaction, the executive vice president now directly owns 630,325 shares of the company’s stock, valued at $16,256,081.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Christopher J. Senner sold 125,000 shares of Exelixis stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $27.19, for a total value of $3,398,750.00. Following the sale, the chief financial officer now directly owns 721,680 shares of the company’s stock, valued at approximately $19,622,479.20. The disclosure for this sale can be found here. Insiders have sold a total of 302,858 shares of company stock worth $7,980,629 in the last three months. Insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

Large investors have recently made changes to their positions in the stock. Fisher Asset Management LLC boosted its stake in Exelixis by 232.6% during the fourth quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock worth $25,000 after buying an additional 728 shares during the last quarter. Rise Advisors LLC acquired a new position in shares of Exelixis in the 1st quarter valued at $28,000. Park Place Capital Corp purchased a new stake in shares of Exelixis in the second quarter valued at about $45,000. GAMMA Investing LLC boosted its stake in shares of Exelixis by 107.9% during the second quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock worth $45,000 after buying an additional 1,041 shares during the period. Finally, EntryPoint Capital LLC increased its position in Exelixis by 537.2% in the 1st quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock valued at $49,000 after acquiring an additional 1,746 shares during the period. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Company Profile

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.