Exelixis (NASDAQ:EXEL) Sets New 52-Week High – Time to Buy?

Exelixis, Inc. (NASDAQ:EXEL) shares reached a new 52-week high on Tuesday . The stock traded as high as $34.89 and last traded at $34.85, with a volume of 572714 shares. The stock had previously closed at $34.29.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on EXEL shares. Stifel Nicolaus increased their price objective on shares of Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Stephens raised their price target on shares of Exelixis from $23.00 to $29.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Guggenheim raised their price target on shares of Exelixis from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Truist Financial raised their price target on shares of Exelixis from $33.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price target on shares of Exelixis from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $31.44.

Exelixis Trading Up 1.3 %

The stock’s fifty day moving average price is $27.30 and its two-hundred day moving average price is $24.39. The stock has a market capitalization of $9.92 billion, a P/E ratio of 22.08, a price-to-earnings-growth ratio of 0.92 and a beta of 0.51.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $539.50 million for the quarter, compared to the consensus estimate of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.10 EPS. As a group, analysts expect that Exelixis, Inc. will post 1.59 earnings per share for the current fiscal year.

Insider Transactions at Exelixis

In other news, EVP Dana Aftab sold 1,162 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were 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 of the company’s stock, valued at $15,666,873. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Christopher J. Senner sold 125,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $27.19, for a total transaction of $3,398,750.00. Following the sale, the chief financial officer now directly owns 721,680 shares of the company’s stock, valued at approximately $19,622,479.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Dana Aftab sold 1,162 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total transaction 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 354,020 shares of company stock valued at $9,386,366 in the last three months. 2.85% of the stock is currently owned by company insiders.

Institutional Trading of Exelixis

Several institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in Exelixis during the 3rd quarter valued at about $30,000. Park Place Capital Corp bought a new position in Exelixis during the 2nd quarter valued at about $45,000. GAMMA Investing LLC lifted its stake in shares of Exelixis by 107.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 1,041 shares during the period. EntryPoint Capital LLC lifted its stake in shares of Exelixis by 537.2% in the 1st quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock worth $49,000 after purchasing an additional 1,746 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in shares of Exelixis in the 3rd quarter worth approximately $61,000. 85.27% of the stock is 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.