JMP Securities Reiterates “Market Outperform” Rating for Exelixis (NASDAQ:EXEL)

Exelixis (NASDAQ:EXEL)‘s stock had its “market outperform” rating reiterated by analysts at JMP Securities in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $41.00 price objective on the biotechnology company’s stock. JMP Securities’ price objective suggests a potential upside of 13.26% from the company’s previous close.

EXEL has been the subject of several other reports. HC Wainwright restated a “buy” rating and set a $40.00 target price on shares of Exelixis in a report on Thursday, March 27th. Stephens reissued an “equal weight” rating and set a $29.00 price objective on shares of Exelixis in a research note on Wednesday, February 12th. Piper Sandler lifted their target price on shares of Exelixis from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Citigroup increased their price target on shares of Exelixis from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, Barclays raised their price target on shares of Exelixis from $25.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Exelixis has an average rating of “Moderate Buy” and a consensus target price of $37.59.

Exelixis Trading Up 0.1 %

Shares of EXEL stock traded up $0.05 during trading hours on Thursday, hitting $36.20. 178,646 shares of the company’s stock were exchanged, compared to its average volume of 2,172,143. The company has a market capitalization of $10.13 billion, a PE ratio of 20.49, a PEG ratio of 1.13 and a beta of 0.57. Exelixis has a 12-month low of $20.14 and a 12-month high of $40.02. The business’s 50 day simple moving average is $36.32 and its 200-day simple moving average is $34.11.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. Equities analysts anticipate that Exelixis will post 2.04 EPS for the current year.

Insider Buying and Selling at Exelixis

In other news, CFO Christopher J. Senner sold 29,314 shares of Exelixis stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $36.14, for a total transaction of $1,059,407.96. Following the completion of the transaction, the chief financial officer now directly owns 779,607 shares in the company, valued at approximately $28,174,996.98. This trade represents a 3.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary C. Beckerle sold 12,210 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $34.88, for a total value of $425,884.80. Following the completion of the sale, the director now owns 30,406 shares in the company, valued at $1,060,561.28. The trade was a 28.65 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 140,343 shares of company stock valued at $5,177,234. 2.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Exelixis

A number of hedge funds have recently bought and sold shares of EXEL. Tri Ri Asset Management Corp bought a new position in shares of Exelixis in the third quarter worth approximately $4,396,000. Blue Trust Inc. increased its holdings in shares of Exelixis by 134.7% in the 4th quarter. Blue Trust Inc. now owns 14,302 shares of the biotechnology company’s stock worth $476,000 after purchasing an additional 8,208 shares in the last quarter. Range Financial Group LLC purchased a new position in shares of Exelixis in the fourth quarter worth $994,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Exelixis by 82.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company’s stock valued at $52,884,000 after purchasing an additional 704,786 shares in the last quarter. Finally, Inspire Investing LLC boosted its position in shares of Exelixis by 25.0% during the fourth quarter. Inspire Investing LLC now owns 36,659 shares of the biotechnology company’s stock valued at $1,221,000 after buying an additional 7,331 shares during the last quarter. 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.