Exelixis (NASDAQ:EXEL) Earns Neutral Rating from Analysts at UBS Group

UBS Group assumed coverage on shares of Exelixis (NASDAQ:EXEL) in a report released on Thursday, Marketbeat.com reports. The brokerage issued a neutral rating and a $30.00 price objective on the biotechnology company’s stock.

EXEL has been the topic of several other research reports. Truist Financial reaffirmed a buy rating and set a $33.00 price objective (up previously from $32.00) on shares of Exelixis in a report on Thursday, August 8th. Oppenheimer reaffirmed an outperform rating and issued a $29.00 target price on shares of Exelixis in a research note on Tuesday, July 30th. StockNews.com raised shares of Exelixis from a buy rating to a strong-buy rating in a research note on Saturday, July 13th. Royal Bank of Canada reaffirmed an outperform rating and set a $27.00 price target on shares of Exelixis in a research report on Wednesday, August 7th. Finally, JMP Securities lifted their price objective on Exelixis from $27.00 to $29.00 and gave the company a market outperform rating in a report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $27.67.

Exelixis Stock Performance

Shares of NASDAQ:EXEL opened at $26.42 on Thursday. Exelixis has a 52-week low of $18.64 and a 52-week high of $27.83. The company has a market cap of $8.01 billion, a P/E ratio of 41.28, a P/E/G ratio of 0.58 and a beta of 0.54. The stock’s 50-day moving average is $25.20 and its 200-day moving average is $23.35.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.31 by $0.44. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. The firm had revenue of $637.18 million during the quarter, compared to analysts’ expectations of $468.21 million. As a group, equities analysts predict that Exelixis will post 1.54 EPS for the current year.

Insider Activity at Exelixis

In other news, EVP Dana Aftab sold 95,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $25.00, for a total transaction of $2,375,000.00. Following the completion of the sale, the executive vice president now owns 520,990 shares of the company’s stock, valued at approximately $13,024,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director George Poste sold 33,725 shares of Exelixis stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $26.89, for a total value of $906,865.25. Following the completion of the transaction, the director now owns 199,020 shares in the company, valued at approximately $5,351,647.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Dana Aftab sold 95,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $25.00, for a total transaction of $2,375,000.00. Following the completion of the sale, the executive vice president now directly owns 520,990 shares in the company, valued at approximately $13,024,750. The disclosure for this sale can be found here. In the last three months, insiders have sold 302,858 shares of company stock valued at $7,980,629. 2.85% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Exelixis in the fourth quarter valued at about $73,449,000. Coldstream Capital Management Inc. purchased a new position in Exelixis in the fourth quarter worth $216,000. Quest Partners LLC acquired a new position in shares of Exelixis during the fourth quarter worth $352,000. Franklin Resources Inc. lifted its holdings in shares of Exelixis by 23.6% during the 4th quarter. Franklin Resources Inc. now owns 434,471 shares of the biotechnology company’s stock valued at $10,423,000 after purchasing an additional 82,916 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new stake in shares of Exelixis in the 4th quarter worth $486,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

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.