Exelixis (NASDAQ:EXEL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Exelixis (NASDAQ:EXEL) from a buy rating to a strong-buy rating in a research note released on Saturday.

A number of other research firms have also issued reports on EXEL. Barclays increased their price target on shares of Exelixis from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 4th. Royal Bank Of Canada lowered their price objective on shares of Exelixis from $46.00 to $43.00 and set a “sector perform” rating on the stock in a research report on Monday, March 2nd. Wells Fargo & Company upped their price objective on shares of Exelixis from $30.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 11th. Morgan Stanley increased their target price on shares of Exelixis from $48.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Monday, February 2nd. Finally, Truist Financial set a $51.00 target price on shares of Exelixis in a research note on Wednesday, January 14th. Ten research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.94.

Exelixis Trading Down 0.4%

NASDAQ:EXEL opened at $41.07 on Friday. The business’s fifty day moving average price is $43.29 and its 200 day moving average price is $41.73. The firm has a market capitalization of $10.67 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 0.93 and a beta of 0.41. Exelixis has a 1-year low of $32.38 and a 1-year high of $49.62.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, February 10th. The biotechnology company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.20. Exelixis had a return on equity of 36.29% and a net margin of 33.73%.The firm had revenue of $598.66 million during the quarter, compared to analyst estimates of $609.17 million. During the same period last year, the company posted $0.55 EPS. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. Equities analysts forecast that Exelixis will post 2.04 earnings per share for the current year.

Insider Transactions at Exelixis

In other Exelixis news, EVP Dana Aftab sold 47,918 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $44.50, for a total value of $2,132,351.00. Following the completion of the sale, the executive vice president directly owned 616,106 shares of the company’s stock, valued at $27,416,717. The trade was a 7.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Bob Oliver sold 30,250 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $43.81, for a total transaction of $1,325,252.50. Following the transaction, the director owned 21,120 shares in the company, valued at approximately $925,267.20. This trade represents a 58.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 362,849 shares of company stock valued at $15,917,463 in the last ninety days. 2.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Exelixis

Institutional investors and hedge funds have recently modified their holdings of the business. Police & Firemen s Retirement System of New Jersey increased its position in Exelixis by 0.3% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 102,581 shares of the biotechnology company’s stock worth $4,521,000 after buying an additional 274 shares during the last quarter. Richardson Financial Services Inc. raised its holdings in Exelixis by 95.1% during the third quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 292 shares in the last quarter. RHS Financial LLC lifted its position in shares of Exelixis by 2.4% in the fourth quarter. RHS Financial LLC now owns 12,619 shares of the biotechnology company’s stock worth $553,000 after buying an additional 293 shares during the last quarter. Meeder Advisory Services Inc. boosted its stake in shares of Exelixis by 5.8% during the 4th quarter. Meeder Advisory Services Inc. now owns 5,406 shares of the biotechnology company’s stock worth $237,000 after acquiring an additional 298 shares in the last quarter. Finally, Cim LLC boosted its stake in shares of Exelixis by 0.9% during the 3rd quarter. Cim LLC now owns 35,397 shares of the biotechnology company’s stock worth $1,462,000 after acquiring an additional 305 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

About Exelixis

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.