Exelixis (NASDAQ:EXEL) Earns Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Exelixis (NASDAQ:EXEL - Free Report) in a research note issued to investors on Thursday,Benzinga reports. They currently have a $40.00 price objective on the biotechnology company's stock.

Other equities research analysts also recently issued reports about the stock. Guggenheim reissued a "buy" rating and set a $42.00 target price on shares of Exelixis in a research report on Wednesday, February 12th. Truist Financial increased their price objective on Exelixis from $42.00 to $43.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. JMP Securities reaffirmed a "market outperform" rating and set a $41.00 target price on shares of Exelixis in a research report on Thursday, January 23rd. Royal Bank of Canada increased their price target on Exelixis from $38.00 to $40.00 and gave the company an "outperform" rating in a research report on Thursday, March 13th. Finally, Citigroup lifted their price objective on shares of Exelixis from $38.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Exelixis currently has an average rating of "Moderate Buy" and a consensus price target of $37.59.

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Exelixis Stock Performance

Exelixis stock traded down $0.74 during mid-day trading on Thursday, reaching $35.96. The stock had a trading volume of 738,442 shares, compared to its average volume of 2,133,730. The firm has a market capitalization of $10.07 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. Exelixis has a fifty-two week low of $20.14 and a fifty-two week high of $40.02. The stock's 50-day simple moving average is $35.71 and its 200-day simple moving average is $33.32.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its quarterly 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 net margin of 24.04% and a return on equity of 23.52%. On average, research analysts forecast that Exelixis will post 2.04 earnings per share for the current fiscal year.

Insider Activity

In other news, 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 completion of the transaction, the executive vice president now directly owns 341,028 shares in the company, valued at approximately $13,231,886.40. This trade represents a 2.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 transaction of $425,884.80. Following the sale, the director now directly owns 30,406 shares in the company, valued at $1,060,561.28. This trade represents a 28.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 140,343 shares of company stock valued at $5,177,234 in the last 90 days. 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 the company. NorthCrest Asset Manangement LLC raised its position in shares of Exelixis by 14.9% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 13,536 shares of the biotechnology company's stock worth $451,000 after buying an additional 1,758 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Exelixis in the 4th quarter valued at about $11,998,000. Forum Financial Management LP bought a new stake in shares of Exelixis during the 4th quarter valued at about $241,000. GF Fund Management CO. LTD. purchased a new position in shares of Exelixis during the fourth quarter worth about $200,000. Finally, Neo Ivy Capital Management increased its position in shares of Exelixis by 427.8% in the fourth quarter. Neo Ivy Capital Management now owns 53,892 shares of the biotechnology company's stock worth $1,794,000 after purchasing an additional 43,682 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other 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.