Exelixis’ (EXEL) “Buy” Rating Reaffirmed at Guggenheim

Guggenheim reissued their buy rating on shares of Exelixis (NASDAQ:EXEL) in a research report report published on Wednesday morning,Benzinga reports. They currently have a $42.00 target price on the biotechnology company’s stock.

Several other research firms also recently commented on EXEL. BMO Capital Markets downgraded shares of Exelixis from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $36.00 to $40.00 in a research note on Friday, December 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $34.00 target price on shares of Exelixis in a research report on Wednesday, October 30th. JMP Securities reiterated a “market outperform” rating and issued a $41.00 price target on shares of Exelixis in a report on Thursday, January 23rd. Bank of America downgraded Exelixis from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $35.00 to $39.00 in a report on Tuesday, December 17th. Finally, Brookline Capital Management started coverage on Exelixis in a research report on Monday, December 23rd. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Exelixis Stock Down 0.0 %

Shares of EXEL opened at $32.80 on Wednesday. The business has a fifty day moving average of $34.24 and a 200 day moving average of $30.72. The company has a market cap of $9.37 billion, a PE ratio of 21.03, a P/E/G ratio of 0.63 and a beta of 0.53. Exelixis has a 52-week low of $20.14 and a 52-week high of $37.59.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a return on equity of 20.99% and a net margin of 22.43%. As a group, research analysts anticipate that Exelixis will post 1.74 earnings per share for the current fiscal year.

Insider Transactions at Exelixis

In related news, EVP Patrick J. Haley sold 41,588 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.36, for a total transaction of $1,428,963.68. Following the sale, the executive vice president now owns 288,665 shares in the company, valued at approximately $9,918,529.40. This trade represents a 12.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey Hessekiel sold 60,000 shares of Exelixis stock in a transaction on Friday, November 29th. The shares were sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the completion of the transaction, the executive vice president now directly owns 486,059 shares of the company’s stock, valued at $17,823,783.53. The trade was a 10.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,588 shares of company stock worth $3,981,864 over the last quarter. 2.85% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Exelixis

Hedge funds have recently bought and sold shares of the business. Principal Securities Inc. lifted its stake in Exelixis by 62.8% in the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 373 shares in the last quarter. USA Financial Formulas acquired a new position in shares of Exelixis during the fourth quarter valued at approximately $32,000. V Square Quantitative Management LLC acquired a new stake in shares of Exelixis in the third quarter worth approximately $30,000. Kestra Investment Management LLC purchased a new stake in shares of Exelixis during the fourth quarter worth approximately $39,000. Finally, UMB Bank n.a. increased its position in shares of Exelixis by 68.4% during the fourth quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 553 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

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.