Guggenheim Reiterates “Buy” Rating for Exelixis (NASDAQ:EXEL)

Guggenheim reaffirmed their buy rating on shares of Exelixis (NASDAQ:EXEL) in a research report sent to investors on Wednesday,Benzinga reports.

Several other research analysts have also weighed in on EXEL. Truist Financial increased their price objective on shares of Exelixis from $38.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. JMP Securities increased their price target on shares of Exelixis from $34.00 to $41.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 15th. Brookline Capital Management initiated coverage on shares of Exelixis in a research note on Monday, December 23rd. They set a “buy” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $34.00 target price on shares of Exelixis in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group upgraded Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

Exelixis Stock Performance

Shares of EXEL opened at $32.38 on Wednesday. Exelixis has a fifty-two week low of $20.01 and a fifty-two week high of $37.59. The company has a market capitalization of $9.25 billion, a PE ratio of 20.76, a price-to-earnings-growth ratio of 0.72 and a beta of 0.53. The stock has a fifty day moving average of $34.87 and a two-hundred day moving average of $29.71.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The firm had revenue of $539.50 million during the quarter, compared to analyst estimates of $490.31 million. During the same period in the prior year, the firm posted $0.10 earnings per share. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. As a group, equities research analysts forecast that Exelixis will post 1.74 earnings per share for the current fiscal year.

Insider Activity

In other Exelixis news, EVP Patrick J. Haley sold 41,588 shares of Exelixis stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.36, for a total transaction of $1,428,963.68. Following the sale, the executive vice president now directly owns 288,665 shares in the company, valued at $9,918,529.40. The trade was a 12.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dana Aftab sold 96,986 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $35.00, for a total value of $3,394,510.00. Following the completion of the transaction, the executive vice president now directly owns 498,945 shares in the company, valued at approximately $17,463,075. The trade was a 16.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 314,736 shares of company stock worth $10,849,110 over the last 90 days. Company insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EXEL. Los Angeles Capital Management LLC raised its stake in shares of Exelixis by 124.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock valued at $46,473,000 after purchasing an additional 991,494 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new stake in Exelixis in the third quarter valued at about $14,979,000. AQR Capital Management LLC raised its stake in Exelixis by 12.7% during the second quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock valued at $73,425,000 after buying an additional 370,199 shares in the last quarter. Burney Co. bought a new position in Exelixis during the 4th quarter worth approximately $12,267,000. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Exelixis by 263.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 483,064 shares of the biotechnology company’s stock worth $12,536,000 after acquiring an additional 350,026 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

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.