Exelixis (NASDAQ:EXEL) Sets New 12-Month High – Here’s Why

Exelixis, Inc. (NASDAQ:EXEL)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $39.30 and last traded at $38.55, with a volume of 3791864 shares traded. The stock had previously closed at $38.69.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EXEL. Stephens reissued an “equal weight” rating and issued a $29.00 target price on shares of Exelixis in a research note on Wednesday, February 12th. UBS Group boosted their target price on shares of Exelixis from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Piper Sandler boosted their target price on shares of Exelixis from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. BMO Capital Markets downgraded shares of Exelixis from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $36.00 to $40.00 in a research note on Friday, December 20th. Finally, HC Wainwright reissued a “buy” rating and issued a $40.00 target price on shares of Exelixis in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Exelixis has an average rating of “Moderate Buy” and a consensus target price of $37.24.

Exelixis Trading Up 0.9 %

The stock’s 50-day moving average is $34.81 and its 200-day moving average is $31.91. The stock has a market cap of $10.82 billion, a price-to-earnings ratio of 21.84, a P/E/G ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL) last posted 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 return on equity of 23.52% and a net margin of 24.04%. On average, equities analysts predict that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Exelixis news, Director Jack L. Wyszomierski sold 8,768 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $37.80, for a total value of $331,430.40. Following the completion of the transaction, the director now owns 356,605 shares in the company, valued at $13,479,669. This represents a 2.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Patrick J. Haley sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $38.80, for a total value of $388,000.00. Following the completion of the transaction, the executive vice president now owns 341,028 shares of the company’s stock, valued at approximately $13,231,886.40. This represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 140,343 shares of company stock valued at $5,177,234. 2.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Exelixis

Institutional investors and hedge funds have recently bought and sold shares of the stock. Coppell Advisory Solutions LLC purchased a new position in shares of Exelixis during the 4th quarter valued at approximately $25,000. Colonial Trust Co SC boosted its stake in shares of Exelixis by 616.9% during the 4th quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company’s stock valued at $30,000 after buying an additional 765 shares during the last quarter. USA Financial Formulas purchased a new position in shares of Exelixis during the 4th quarter valued at approximately $32,000. Principal Securities Inc. boosted its stake in shares of Exelixis by 62.8% during the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 373 shares during the last quarter. Finally, Kestra Investment Management LLC purchased a new position in shares of Exelixis during the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

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.