UBS Group Initiates Coverage on Exelixis (NASDAQ:EXEL)

Stock analysts at UBS Group initiated coverage on shares of Exelixis (NASDAQ:EXEL) in a research note issued on Thursday, MarketBeat Ratings reports. The firm set a “neutral” rating and a $30.00 price target on the biotechnology company’s stock. UBS Group’s price objective suggests a potential upside of 13.55% from the company’s previous close.

Several other research firms also recently commented on EXEL. Oppenheimer reaffirmed an “outperform” rating and issued a $29.00 price objective on shares of Exelixis in a report on Tuesday, July 30th. JMP Securities raised their price objective on shares of Exelixis from $27.00 to $29.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 7th. StockNews.com upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 13th. HC Wainwright reiterated a “buy” rating and set a $29.00 price target on shares of Exelixis in a research report on Wednesday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $27.00 price objective on shares of Exelixis in a research report on Wednesday, August 7th. Five 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 company’s stock. According to MarketBeat, Exelixis currently has an average rating of “Moderate Buy” and a consensus target price of $27.67.

Exelixis Stock Down 1.5 %

Exelixis stock opened at $26.42 on Thursday. Exelixis has a twelve month low of $18.64 and a twelve month high of $27.83. The firm has a 50 day moving average price of $25.12 and a 200-day moving average price of $23.31. The company has a market capitalization 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.

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

Insider Buying and Selling at Exelixis

In other Exelixis news, Director Maria C. Freire sold 8,250 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $26.56, for a total value of $219,120.00. Following the completion of the sale, the director now owns 91,007 shares of the company’s stock, valued at $2,417,145.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Exelixis news, Director Maria C. Freire sold 8,250 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $26.56, for a total value of $219,120.00. Following the completion of the sale, the director now directly owns 91,007 shares of the company’s stock, valued at $2,417,145.92. The transaction was disclosed in a legal 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 value of $2,375,000.00. Following the transaction, the executive vice president now directly owns 520,990 shares in the company, valued at $13,024,750. The disclosure for this sale can be found here. Insiders have sold 302,858 shares of company stock worth $7,980,629 over the last 90 days. Corporate insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

Institutional investors have recently made changes to their positions in the stock. LSV Asset Management grew its stake in shares of Exelixis by 1,651.4% in the first quarter. LSV Asset Management now owns 2,774,707 shares of the biotechnology company’s stock worth $65,844,000 after purchasing an additional 2,616,278 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Exelixis by 948.3% during the first quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock valued at $58,240,000 after buying an additional 2,220,150 shares during the period. True Wealth Design LLC bought a new position in shares of Exelixis during the fourth quarter valued at approximately $828,000. Intech Investment Management LLC lifted its stake in Exelixis by 155.8% in the first quarter. Intech Investment Management LLC now owns 100,039 shares of the biotechnology company’s stock worth $2,374,000 after acquiring an additional 60,925 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in Exelixis in the first quarter valued at $1,281,000. 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.