Exelixis (NASDAQ:EXEL) Rating Reiterated by HC Wainwright

HC Wainwright reissued their buy rating on shares of Exelixis (NASDAQ:EXEL) in a research report released on Wednesday morning, Benzinga reports. HC Wainwright currently has a $29.00 price target on the biotechnology company’s stock.

Other analysts also recently issued research reports about the stock. Oppenheimer reissued an outperform rating and set a $29.00 price target on shares of Exelixis in a research report on Tuesday, July 30th. StockNews.com raised shares of Exelixis from a buy rating to a strong-buy rating in a report on Saturday, July 13th. Truist Financial reaffirmed a buy rating and issued a $33.00 price objective (up previously from $32.00) on shares of Exelixis in a report on Thursday, August 8th. JMP Securities lifted their price objective on shares of Exelixis from $27.00 to $29.00 and gave the stock a market outperform rating in a report on Wednesday, August 7th. Finally, Royal Bank of Canada reaffirmed an outperform rating and issued a $27.00 price objective on shares of Exelixis in a report on Wednesday, August 7th. Five equities 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 MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $27.67.

Exelixis Stock Down 1.5 %

EXEL opened at $26.42 on Wednesday. Exelixis has a 52-week low of $18.64 and a 52-week high of $27.83. The firm has a market capitalization of $8.01 billion, a P/E ratio of 41.28, a P/E/G ratio of 0.58 and a beta of 0.54. The firm’s 50 day moving average is $25.12 and its 200-day moving average is $23.31.

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

Insider Activity at Exelixis

In related news, Director Maria C. Freire sold 8,250 shares of Exelixis stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $26.56, for a total transaction of $219,120.00. Following the sale, the director now directly owns 91,007 shares in the company, valued at $2,417,145.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Exelixis news, CFO Christopher J. Senner sold 125,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were 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 in the company, valued at $19,622,479.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Maria C. Freire sold 8,250 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $26.56, for a total transaction of $219,120.00. Following the completion of the sale, the director now owns 91,007 shares in the company, valued at $2,417,145.92. 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 over the last ninety days. 2.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Exelixis

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fisher Asset Management LLC grew its stake in 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 acquiring an additional 728 shares in the last quarter. Rise Advisors LLC purchased a new position in Exelixis during the 1st quarter valued at about $28,000. Park Place Capital Corp purchased a new position in Exelixis during the 2nd quarter valued at about $45,000. GAMMA Investing LLC grew its stake in Exelixis by 107.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 1,041 shares in the last quarter. Finally, EntryPoint Capital LLC grew its stake in Exelixis by 537.2% during 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 in the last quarter. 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.