Exelixis’ (EXEL) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Exelixis (NASDAQ:EXEL) in a research report released on Thursday morning,Benzinga reports. JMP Securities currently has a $41.00 target price on the biotechnology company’s stock.

A number of other analysts have also commented on the company. Stifel Nicolaus boosted their target price on Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Guggenheim restated a “buy” rating on shares of Exelixis in a report on Wednesday. HC Wainwright increased their target price on Exelixis from $29.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 10th. BMO Capital Markets lowered shares of Exelixis from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $36.00 to $40.00 in a research note on Friday, December 20th. Finally, TD Cowen raised their price objective on shares of Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Exelixis currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.50.

Exelixis Price Performance

NASDAQ EXEL opened at $34.13 on Thursday. The stock has a market capitalization of $9.75 billion, a P/E ratio of 21.88, a P/E/G ratio of 0.80 and a beta of 0.53. The business has a 50 day simple moving average of $34.91 and a 200 day simple moving average of $29.64. Exelixis has a one year low of $20.01 and a one year high of $37.59.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. The company had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The company’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 EPS. Equities analysts expect that Exelixis will post 1.74 earnings per share for the current year.

Insiders Place Their Bets

In other Exelixis news, EVP Dana Aftab sold 1,162 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total value of $36,486.80. Following the transaction, the executive vice president now directly owns 498,945 shares in the company, valued at $15,666,873. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George Poste sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $34.00, for a total transaction of $1,020,000.00. Following the sale, the director now owns 169,020 shares of the company’s stock, valued at approximately $5,746,680. The trade was a 15.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 314,736 shares of company stock valued at $10,849,110. Insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. USA Financial Formulas purchased a new stake in Exelixis during the fourth quarter valued at about $32,000. V Square Quantitative Management LLC bought a new stake in shares of Exelixis in the third quarter valued at approximately $30,000. UMB Bank n.a. lifted its stake in shares of Exelixis by 68.4% during the 4th quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 553 shares in the last quarter. Brooklyn Investment Group purchased a new position in Exelixis in the 3rd quarter valued at approximately $42,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in Exelixis by 18.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,890 shares of the biotechnology company’s stock valued at $63,000 after acquiring an additional 290 shares during the period. Institutional investors 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.