Exelixis (NASDAQ:EXEL) Receives “Market Outperform” Rating from JMP Securities

JMP Securities reiterated their market outperform rating on shares of Exelixis (NASDAQ:EXEL) in a report published on Friday, Benzinga reports. They currently have a $29.00 price target on the biotechnology company’s stock.

Other equities research analysts also recently issued research reports about the stock. Royal Bank of Canada upped their price target on shares of Exelixis from $27.00 to $30.00 and gave the company an outperform rating in a research note on Friday, October 4th. Oppenheimer reaffirmed an outperform rating and issued a $29.00 price target on shares of Exelixis in a report on Tuesday, July 30th. StockNews.com upgraded Exelixis from a buy rating to a strong-buy rating in a research report on Saturday, July 13th. Truist Financial restated a buy rating and set a $33.00 price objective (up from $32.00) on shares of Exelixis in a research report on Thursday, August 8th. Finally, Morgan Stanley lifted their target price on Exelixis from $26.00 to $28.00 and gave the stock an equal weight rating in a report on Friday. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Exelixis has an average rating of Moderate Buy and an average target price of $28.07.

Exelixis Stock Up 2.0 %

Shares of Exelixis stock opened at $26.23 on Friday. Exelixis has a twelve month low of $18.64 and a twelve month high of $27.83. The business has a 50-day moving average price of $26.14 and a 200-day moving average price of $23.67. The firm has a market cap of $7.48 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 0.54 and a beta of 0.54.

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. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. The business had revenue of $637.18 million during the quarter, compared to analysts’ expectations of $468.21 million. On average, equities analysts expect that Exelixis will post 1.59 EPS for the current fiscal year.

Insider Buying and Selling

In other Exelixis news, CFO Christopher J. Senner sold 125,000 shares of the 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 sale, the chief financial officer now owns 721,680 shares of the company’s stock, valued at approximately $19,622,479.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Dana Aftab sold 20,883 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $27.06, for a total transaction of $565,093.98. Following the completion of the sale, the executive vice president now owns 500,107 shares of the company’s stock, valued at $13,532,895.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Christopher J. Senner sold 125,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were 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 of the company’s stock, valued at approximately $19,622,479.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 327,858 shares of company stock valued at $8,640,129 over the last 90 days. Corporate insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LSV Asset Management grew its holdings in shares of Exelixis by 107.7% during the second quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock valued at $129,511,000 after buying an additional 2,989,021 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in Exelixis by 948.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock worth $58,240,000 after acquiring an additional 2,220,150 shares during the period. Jupiter Asset Management Ltd. grew its stake in Exelixis by 148.2% during the 1st quarter. Jupiter Asset Management Ltd. now owns 2,267,894 shares of the biotechnology company’s stock valued at $53,817,000 after purchasing an additional 1,354,062 shares during the last quarter. Swedbank AB acquired a new position in shares of Exelixis in the first quarter valued at about $22,455,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Exelixis in the first quarter worth about $10,906,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

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.