Exelixis, Inc. (NASDAQ:EXEL) Given Average Recommendation of "Moderate Buy" by Analysts

Exelixis, Inc. (NASDAQ:EXEL - Get Free Report) has received an average rating of "Moderate Buy" from the nineteen analysts that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $32.44.

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group upgraded Exelixis to a "strong sell" rating in a report on Tuesday, October 15th. Truist Financial raised their price target on shares of Exelixis from $33.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Piper Sandler upped their price objective on shares of Exelixis from $33.00 to $36.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Guggenheim increased their price objective on shares of Exelixis from $32.00 to $33.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus boosted their target price on Exelixis from $26.00 to $30.00 and gave the stock a "hold" rating in a research note on Wednesday, October 16th.

Insider Transactions at Exelixis

In other news, EVP Jeffrey Hessekiel sold 60,000 shares of Exelixis stock in a transaction on Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the transaction, the executive vice president now directly owns 486,059 shares in the company, valued at approximately $17,823,783.53. The trade was a 10.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dana Aftab sold 1,162 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total value of $36,486.80. Following the sale, the executive vice president now directly owns 498,945 shares in the company, valued at $15,666,873. This trade represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 314,736 shares of company stock worth $10,849,110 over the last quarter. Corporate insiders own 2.85% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EXEL. V Square Quantitative Management LLC purchased a new position in Exelixis during the third quarter worth about $30,000. Brooklyn Investment Group bought a new stake in shares of Exelixis during the 3rd quarter valued at about $42,000. Capital Performance Advisors LLP purchased a new position in shares of Exelixis during the third quarter worth about $61,000. Essex Investment Management Co. LLC bought a new position in shares of Exelixis in the third quarter worth approximately $74,000. Finally, GAMMA Investing LLC raised its stake in Exelixis by 50.0% in the third quarter. GAMMA Investing LLC now owns 3,010 shares of the biotechnology company's stock valued at $78,000 after purchasing an additional 1,004 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Price Performance

Shares of NASDAQ:EXEL traded up $0.03 during mid-day trading on Friday, hitting $33.97. The company had a trading volume of 1,307,315 shares, compared to its average volume of 1,523,758. Exelixis has a one year low of $19.20 and a one year high of $36.97. The firm has a fifty day moving average price of $34.57 and a 200 day moving average price of $28.46. The company has a market capitalization of $9.70 billion, a PE ratio of 21.78, a price-to-earnings-growth ratio of 0.89 and a beta of 0.52.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. The firm had revenue of $539.50 million for the quarter, compared to analyst estimates of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The business's quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 earnings per share. Research analysts expect that Exelixis will post 1.69 earnings per share for the current fiscal year.

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.