Exelixis (NASDAQ:EXEL) Receives “Buy” Rating from HC Wainwright

Exelixis (NASDAQ:EXEL)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research note issued to investors on Thursday,Benzinga reports. They presently have a $40.00 target price on the biotechnology company’s stock. HC Wainwright’s price objective indicates a potential upside of 8.08% from the stock’s previous close.

EXEL has been the subject of several other research reports. Truist Financial raised their price target on Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. UBS Group lifted their price objective on Exelixis from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Brookline Capital Management initiated coverage on shares of Exelixis in a report on Monday, December 23rd. They issued a “buy” rating on the stock. StockNews.com upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 19th. Finally, JMP Securities reissued a “market outperform” rating and issued a $41.00 price objective on shares of Exelixis in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.59.

Exelixis Trading Down 1.9 %

Shares of NASDAQ EXEL opened at $37.01 on Thursday. The company’s 50-day moving average price is $35.69 and its 200 day moving average price is $33.12. Exelixis has a 52 week low of $20.14 and a 52 week high of $40.02. The stock has a market cap of $10.36 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. As a group, research analysts expect that Exelixis will post 2.04 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Bob Oliver sold 18,647 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $37.25, for a total value of $694,600.75. Following the transaction, the director now owns 33,514 shares in the company, valued at approximately $1,248,396.50. The trade was a 35.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Patrick J. Haley sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $38.80, for a total value of $388,000.00. Following the sale, the executive vice president now owns 341,028 shares of the company’s stock, valued at approximately $13,231,886.40. This trade represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 140,343 shares of company stock worth $5,177,234 in the last 90 days. 2.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On Exelixis

Several hedge funds and other institutional investors have recently modified their holdings of EXEL. Coppell Advisory Solutions LLC bought a new position in Exelixis in the fourth quarter worth about $25,000. Colonial Trust Co SC lifted its stake in Exelixis by 616.9% in the fourth quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company’s stock valued at $30,000 after buying an additional 765 shares during the last quarter. USA Financial Formulas acquired a new position in Exelixis during the 4th quarter valued at about $32,000. Principal Securities Inc. grew its holdings in Exelixis by 62.8% in the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock worth $32,000 after buying an additional 373 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new position in shares of Exelixis during the fourth quarter valued at $39,000. Institutional investors own 85.27% of the company’s stock.

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.