Royal Bank of Canada Reaffirms Outperform Rating for Exelixis (NASDAQ:EXEL)

Royal Bank of Canada reissued their outperform rating on shares of Exelixis (NASDAQ:EXEL) in a research note released on Thursday, Benzinga reports. The brokerage currently has a $27.00 price objective on the biotechnology company’s stock.

EXEL has been the subject of a number of other research reports. StockNews.com raised Exelixis from a buy rating to a strong-buy rating in a research report on Saturday, July 13th. HC Wainwright restated a buy rating and set a $29.00 price objective on shares of Exelixis in a report on Wednesday, September 18th. JMP Securities reissued a market outperform rating and set a $29.00 price target on shares of Exelixis in a report on Friday, September 20th. UBS Group began coverage on shares of Exelixis in a research report on Thursday, September 19th. They set a neutral rating and a $30.00 target price on the stock. Finally, Truist Financial reaffirmed a buy rating and issued a $33.00 price target (up previously from $32.00) on shares of Exelixis in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $27.67.

Exelixis Stock Down 1.1 %

EXEL stock opened at $25.96 on Thursday. The company has a market cap of $7.87 billion, a P/E ratio of 40.56, a PEG ratio of 0.56 and a beta of 0.54. Exelixis has a twelve month low of $18.64 and a twelve month high of $27.83. The business has a fifty day moving average of $25.56 and a 200-day moving average of $23.48.

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 the consensus estimate of $0.31 by $0.44. The firm 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%. As a group, equities research analysts anticipate that Exelixis will post 1.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Exelixis

In related news, EVP Dana Aftab sold 95,000 shares of Exelixis stock in a transaction that occurred on Wednesday, August 7th. The stock was 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 of the company’s stock, valued at $13,024,750. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director George Poste sold 33,725 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $26.89, for a total value of $906,865.25. Following the completion of the sale, the director now directly owns 199,020 shares of the company’s stock, valued at approximately $5,351,647.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dana Aftab sold 95,000 shares of the business’s stock in a transaction on 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 sale, the executive vice president now owns 520,990 shares of the company’s stock, valued at approximately $13,024,750. The disclosure for this sale can be found here. In the last ninety days, insiders sold 327,858 shares of company stock worth $8,640,129. 2.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Exelixis

A number of hedge funds have recently added to or reduced their stakes in EXEL. Fisher Asset Management LLC lifted its holdings in shares of Exelixis by 232.6% in the fourth quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 728 shares in the last quarter. Rise Advisors LLC bought a new position in shares of Exelixis during the 1st quarter worth $28,000. Park Place Capital Corp purchased a new stake in Exelixis in the 2nd quarter worth about $45,000. GAMMA Investing LLC raised its stake in Exelixis by 107.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 1,041 shares during the period. Finally, EntryPoint Capital LLC raised its holdings in Exelixis by 537.2% during the 1st quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock valued at $49,000 after acquiring an additional 1,746 shares during the period. 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.