Exelixis (NASDAQ:EXEL) Given Market Outperform Rating at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Exelixis (NASDAQ:EXEL) in a report released on Thursday,Benzinga reports. JMP Securities currently has a $41.00 target price on the biotechnology company’s stock.

A number of other analysts also recently issued reports on the stock. Wells Fargo & Company downgraded shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $36.00 price target for the company. in a report on Monday, February 24th. Brookline Capital Management assumed coverage on Exelixis in a research note on Monday, December 23rd. They set a “buy” rating for the company. Barclays lifted their target price on Exelixis from $25.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, February 13th. Oppenheimer cut Exelixis from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $41.00 to $33.00 in a report on Friday, January 24th. Finally, StockNews.com upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Exelixis currently has an average rating of “Moderate Buy” and a consensus target price of $37.59.

Exelixis Stock Up 0.1 %

Shares of NASDAQ:EXEL opened at $36.19 on Thursday. Exelixis has a 52-week low of $20.14 and a 52-week high of $40.02. The stock has a market cap of $10.13 billion, a P/E ratio of 20.45, a PEG ratio of 1.13 and a beta of 0.57. The business has a fifty day moving average of $36.37 and a two-hundred day moving average of $34.18.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data 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 24.04% and a return on equity of 23.52%. On average, equities analysts anticipate that Exelixis will post 2.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Patrick J. Haley sold 10,000 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 341,028 shares in the company, valued at approximately $13,231,886.40. This trade represents a 2.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jack L. Wyszomierski sold 8,768 shares of Exelixis stock in a transaction on Friday, February 28th. The shares were 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 of the company’s stock, valued at approximately $13,479,669. This trade represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 140,343 shares of company stock worth $5,177,234 in the last ninety days. 2.85% of the stock is owned by corporate insiders.

Institutional Trading of Exelixis

Several hedge funds have recently added to or reduced their stakes in EXEL. Vanguard Group Inc. increased its position in shares of Exelixis by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 29,429,252 shares of the biotechnology company’s stock valued at $979,994,000 after purchasing an additional 121,750 shares during the last quarter. LSV Asset Management grew its stake in shares of Exelixis by 0.8% during the fourth quarter. LSV Asset Management now owns 8,169,847 shares of the biotechnology company’s stock worth $272,056,000 after purchasing an additional 67,470 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in Exelixis by 10.2% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 7,630,940 shares of the biotechnology company’s stock valued at $254,110,000 after buying an additional 708,312 shares during the last quarter. Invesco Ltd. raised its stake in Exelixis by 308.1% in the fourth quarter. Invesco Ltd. now owns 3,975,241 shares of the biotechnology company’s stock valued at $132,376,000 after buying an additional 3,001,204 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Exelixis by 25.7% during the 4th quarter. AQR Capital Management LLC now owns 3,967,005 shares of the biotechnology company’s stock worth $132,101,000 after buying an additional 810,857 shares during the last quarter. Institutional investors and hedge funds 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.