Exelixis (NASDAQ:EXEL) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Exelixis (NASDAQ:EXEL) in a report published on Thursday, Benzinga reports. Royal Bank of Canada currently has a $27.00 target price on the biotechnology company’s stock.

A number of other equities analysts have also recently commented on EXEL. Oppenheimer reaffirmed an outperform rating and set a $29.00 price target on shares of Exelixis in a research note on Tuesday, July 30th. UBS Group started coverage on Exelixis in a research note on Thursday, September 19th. They set a neutral rating and a $30.00 target price on the stock. StockNews.com raised Exelixis from a buy rating to a strong-buy rating in a research note on Saturday, July 13th. JMP Securities reaffirmed a market outperform rating and issued a $29.00 price objective on shares of Exelixis in a research report on Friday, September 20th. Finally, Truist Financial reiterated a buy rating and issued a $33.00 target price (up previously from $32.00) on shares of Exelixis in a research note on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $27.67.

Exelixis Price Performance

Shares of EXEL stock opened at $25.96 on Thursday. The company has a market cap of $7.87 billion, a PE ratio of 40.56, a price-to-earnings-growth ratio of 0.56 and a beta of 0.54. Exelixis has a 1 year low of $18.64 and a 1 year high of $27.83. The stock’s 50 day simple moving average is $25.56 and its two-hundred day simple moving average is $23.48.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.44. The company had revenue of $637.18 million for the quarter, compared to analyst estimates of $468.21 million. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. Equities research analysts expect that Exelixis will post 1.59 EPS for the current year.

Insider Activity at Exelixis

In other Exelixis news, CFO Christopher J. Senner sold 125,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $27.19, for a total transaction of $3,398,750.00. Following the completion of the sale, the chief financial officer now owns 721,680 shares in the company, valued at $19,622,479.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Exelixis news, CFO Christopher J. Senner sold 125,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $27.19, for a total value of $3,398,750.00. Following the completion of the transaction, the chief financial officer now directly owns 721,680 shares in the company, valued at $19,622,479.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dana Aftab sold 95,000 shares of the firm’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 in the company, valued at $13,024,750. The disclosure for this sale can be found here. Insiders have sold a total of 327,858 shares of company stock valued at $8,640,129 over the last ninety days. 2.85% of the stock is owned by company insiders.

Institutional Trading of Exelixis

Hedge funds and other institutional investors have recently made changes to their positions in the business. Resonant Capital Advisors LLC raised its holdings in shares of Exelixis by 3.6% during the second quarter. Resonant Capital Advisors LLC now owns 13,746 shares of the biotechnology company’s stock worth $309,000 after purchasing an additional 477 shares during the last quarter. Cornercap Investment Counsel Inc. lifted its holdings in shares of Exelixis by 1.1% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 50,497 shares of the biotechnology company’s stock valued at $1,135,000 after buying an additional 539 shares during the period. Creative Planning boosted its stake in shares of Exelixis by 0.8% in the second quarter. Creative Planning now owns 71,700 shares of the biotechnology company’s stock worth $1,611,000 after buying an additional 548 shares during the last quarter. Alaska Permanent Fund Corp grew its holdings in Exelixis by 1.2% during the first quarter. Alaska Permanent Fund Corp now owns 53,239 shares of the biotechnology company’s stock worth $1,263,000 after acquiring an additional 617 shares during the period. Finally, Fisher Asset Management LLC raised its position in Exelixis by 232.6% during the fourth quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 728 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.