Exelixis’ (EXEL) “Buy” Rating Reiterated at Guggenheim

Guggenheim reissued their buy rating on shares of Exelixis (NASDAQ:EXEL) in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a $42.00 price target on the biotechnology company’s stock.

Several other research analysts have also recently weighed in on EXEL. The Goldman Sachs Group raised shares of Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. Stephens reissued an “equal weight” rating and issued a $29.00 price target on shares of Exelixis in a report on Monday, January 27th. JMP Securities reissued a “market outperform” rating and issued a $41.00 price target on shares of Exelixis in a report on Thursday, January 23rd. Truist Financial increased their price target on shares of Exelixis from $42.00 to $43.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, StockNews.com cut shares of Exelixis from a “strong-buy” rating to a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.24.

Exelixis Stock Performance

Shares of EXEL stock opened at $35.00 on Wednesday. The firm’s 50-day moving average is $34.19 and its 200-day moving average is $30.83. The stock has a market cap of $10.00 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 0.63 and a beta of 0.53. Exelixis has a 52-week low of $20.14 and a 52-week high of $37.59.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a net margin of 22.43% and a return on equity of 20.99%. Sell-side analysts predict that Exelixis will post 1.74 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Jeffrey Hessekiel sold 60,000 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the sale, the executive vice president now owns 486,059 shares in the company, valued at approximately $17,823,783.53. This trade represents a 10.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Patrick J. Haley sold 10,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $35.27, for a total transaction of $352,700.00. Following the completion of the transaction, the executive vice president now directly owns 278,665 shares of the company’s stock, valued at approximately $9,828,514.55. The trade was a 3.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,588 shares of company stock worth $3,981,864. Corporate insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Several institutional investors and hedge funds have recently added to or reduced their stakes in EXEL. GAMMA Investing LLC lifted its stake in Exelixis by 50.0% in the 3rd quarter. GAMMA Investing LLC now owns 3,010 shares of the biotechnology company’s stock valued at $78,000 after purchasing an additional 1,004 shares during the last quarter. CWM LLC lifted its stake in Exelixis by 73.3% in the 3rd quarter. CWM LLC now owns 34,643 shares of the biotechnology company’s stock valued at $899,000 after purchasing an additional 14,655 shares during the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of Exelixis during the third quarter valued at $522,000. V Square Quantitative Management LLC bought a new position in shares of Exelixis during the third quarter valued at $30,000. Finally, Inspire Advisors LLC raised its stake in shares of Exelixis by 24.9% during the third quarter. Inspire Advisors LLC now owns 25,207 shares of the biotechnology company’s stock valued at $654,000 after acquiring an additional 5,023 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

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.