HC Wainwright Reiterates Buy Rating for Exelixis (NASDAQ:EXEL)

Exelixis (NASDAQ:EXEL)‘s stock had its “buy” rating reissued by HC Wainwright in a report issued on Thursday,Benzinga reports. They currently have a $40.00 price objective on the biotechnology company’s stock. HC Wainwright’s price objective suggests a potential upside of 21.95% from the stock’s current price.

Several other equities research analysts have also commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $34.00 price target on shares of Exelixis in a research report on Wednesday, October 30th. Stifel Nicolaus upped their price objective on Exelixis from $30.00 to $36.00 and gave the stock a “hold” rating in a research note on Wednesday. Brookline Capital Management began coverage on Exelixis in a research report on Monday, December 23rd. They set a “buy” rating on the stock. JMP Securities restated a “market outperform” rating and issued a $41.00 price target on shares of Exelixis in a research report on Thursday, January 23rd. Finally, TD Cowen upped their price target on shares of Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Exelixis presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Exelixis Stock Performance

NASDAQ EXEL opened at $32.80 on Thursday. The stock has a 50-day moving average of $34.24 and a 200 day moving average of $30.72. Exelixis has a one year low of $20.14 and a one year high of $37.59. The company has a market capitalization of $9.37 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 0.63 and a beta of 0.53.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a return on equity of 20.99% and a net margin of 22.43%. On average, equities analysts predict that Exelixis will post 1.74 earnings per share for the current fiscal year.

Insider Activity at Exelixis

In related news, EVP Jeffrey Hessekiel sold 60,000 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $36.67, for a total value of $2,200,200.00. Following the sale, the executive vice president now directly owns 486,059 shares of the company’s stock, valued at $17,823,783.53. This represents a 10.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Patrick J. Haley sold 41,588 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.36, for a total value of $1,428,963.68. Following the sale, the executive vice president now directly owns 288,665 shares of the company’s stock, valued at $9,918,529.40. This represents a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 111,588 shares of company stock valued at $3,981,864. Insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

Several large investors have recently added to or reduced their stakes in EXEL. Principal Securities Inc. lifted its stake in Exelixis by 62.8% in the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 373 shares during the period. USA Financial Formulas purchased a new position in Exelixis during the fourth quarter valued at approximately $32,000. V Square Quantitative Management LLC bought a new position in Exelixis in the third quarter worth approximately $30,000. Kestra Investment Management LLC purchased a new stake in Exelixis during the fourth quarter worth $39,000. Finally, UMB Bank n.a. lifted its holdings in Exelixis by 68.4% during the fourth quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock worth $45,000 after buying an additional 553 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.

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.