Exelixis (NASDAQ:EXEL) Sets New 1-Year High – Here’s Why

Shares of Exelixis, Inc. (NASDAQ:EXEL) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $39.90 and last traded at $39.94, with a volume of 1018102 shares changing hands. The stock had previously closed at $38.58.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. HC Wainwright restated a “buy” rating and issued a $40.00 price target on shares of Exelixis in a report on Thursday, February 13th. Guggenheim reaffirmed a “buy” rating and set a $42.00 price target on shares of Exelixis in a research note on Wednesday, February 12th. Stephens reissued an “equal weight” rating and issued a $29.00 price objective on shares of Exelixis in a research note on Wednesday, February 12th. Brookline Capital Management started coverage on shares of Exelixis in a report on Monday, December 23rd. They issued a “buy” rating on the stock. Finally, Piper Sandler raised their price objective 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.24.

Exelixis Stock Up 1.5 %

The stock has a fifty day moving average of $34.99 and a two-hundred day moving average of $32.12. The stock has a market cap of $10.96 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share 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%. Equities research analysts anticipate that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Insider Activity

In other Exelixis news, Director Mary C. Beckerle sold 12,210 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were 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 of the company’s stock, valued at $1,060,561.28. This trade represents a 28.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Patrick J. Haley sold 10,000 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $38.80, for a total transaction of $388,000.00. Following the completion of the transaction, the executive vice president now owns 341,028 shares of the company’s stock, valued at $13,231,886.40. This trade represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 140,343 shares of company stock valued at $5,177,234. Company insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Coppell Advisory Solutions LLC acquired a new position in shares of Exelixis in the 4th quarter valued at approximately $25,000. Colonial Trust Co SC increased its stake in shares of Exelixis by 616.9% in the fourth quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company’s stock worth $30,000 after buying an additional 765 shares during the last quarter. USA Financial Formulas acquired a new stake in Exelixis in the fourth quarter valued at $32,000. Principal Securities Inc. boosted its stake in Exelixis by 62.8% during the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 373 shares during the last quarter. Finally, Kestra Investment Management LLC acquired a new position in Exelixis during the 4th quarter worth $39,000. Institutional investors and hedge funds 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.