Exelixis (NASDAQ:EXEL) Downgraded to Buy Rating by Wall Street Zen

Wall Street Zen lowered shares of Exelixis (NASDAQ:EXEL) from a strong-buy rating to a buy rating in a research report report published on Saturday.

A number of other research firms also recently commented on EXEL. Morgan Stanley raised their price objective on shares of Exelixis from $48.00 to $49.00 and gave the stock an “equal weight” rating in a report on Monday, February 2nd. Bank of America downgraded Exelixis from a “neutral” rating to an “underperform” rating and set a $41.00 price objective on the stock. in a report on Monday, January 5th. TD Cowen reissued a “buy” rating on shares of Exelixis in a report on Wednesday, November 5th. Royal Bank Of Canada raised their target price on Exelixis from $45.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Finally, Zacks Research upgraded Exelixis from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $47.11.

Exelixis Trading Up 2.9%

Shares of EXEL stock opened at $43.92 on Friday. Exelixis has a 12 month low of $32.38 and a 12 month high of $49.62. The company has a market capitalization of $11.41 billion, a P/E ratio of 15.86, a P/E/G ratio of 1.00 and a beta of 0.42. The stock has a 50 day moving average of $43.62 and a two-hundred day moving average of $40.97.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.20. The business had revenue of $598.66 million for the quarter, compared to analysts’ expectations of $609.17 million. Exelixis had a return on equity of 36.29% and a net margin of 33.73%.Exelixis’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 earnings per share. Sell-side analysts predict that Exelixis will post 2.04 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Patrick J. Haley sold 34,187 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $41.88, for a total transaction of $1,431,751.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 72,230 shares of company stock valued at $3,046,923 over the last three months. Insiders own 2.82% of the company’s stock.

Hedge Funds Weigh In On Exelixis

A number of large investors have recently modified their holdings of the stock. Kestra Advisory Services LLC lifted its holdings in Exelixis by 12.7% during the 4th quarter. Kestra Advisory Services LLC now owns 19,274 shares of the biotechnology company’s stock worth $845,000 after buying an additional 2,179 shares in the last quarter. CreativeOne Wealth LLC lifted its stake in shares of Exelixis by 18.5% during the fourth quarter. CreativeOne Wealth LLC now owns 38,051 shares of the biotechnology company’s stock valued at $1,668,000 after acquiring an additional 5,949 shares during the period. Transamerica Financial Advisors LLC lifted its stake in shares of Exelixis by 266.6% during the fourth quarter. Transamerica Financial Advisors LLC now owns 1,129 shares of the biotechnology company’s stock valued at $49,000 after acquiring an additional 821 shares during the period. Inspire Advisors LLC boosted its holdings in Exelixis by 33.2% in the fourth quarter. Inspire Advisors LLC now owns 20,013 shares of the biotechnology company’s stock valued at $877,000 after acquiring an additional 4,989 shares during the last quarter. Finally, Bridgewater Associates LP increased its position in Exelixis by 9.8% in the fourth quarter. Bridgewater Associates LP now owns 925,712 shares of the biotechnology company’s stock worth $40,574,000 after purchasing an additional 82,747 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Exelixis Company Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.