Exelixis, Inc. (NASDAQ:EXEL) Receives Average Recommendation of “Moderate Buy” from Analysts

Exelixis, Inc. (NASDAQ:EXEL) has been assigned a consensus rating of “Moderate Buy” from the nineteen brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $36.06.

Several brokerages recently weighed in on EXEL. JMP Securities reiterated a “market outperform” rating and issued a $41.00 price objective on shares of Exelixis in a research report on Thursday, January 23rd. Brookline Capital Management assumed coverage on shares of Exelixis in a research note on Monday, December 23rd. They set a “buy” rating for the company. Stephens restated an “equal weight” rating and issued a $29.00 price target on shares of Exelixis in a research report on Monday, January 27th. Oppenheimer lowered Exelixis from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $41.00 to $33.00 in a research report on Friday, January 24th. Finally, Piper Sandler raised their price objective on shares of Exelixis from $36.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th.

Insider Activity at Exelixis

In other news, EVP Patrick J. Haley sold 41,588 shares of Exelixis stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.36, for a total transaction of $1,428,963.68. Following the sale, the executive vice president now owns 288,665 shares of the company’s stock, valued at approximately $9,918,529.40. This trade represents a 12.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the transaction, the executive vice president now owns 486,059 shares of the company’s stock, valued at $17,823,783.53. The trade was a 10.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,588 shares of company stock worth $3,981,864 in the last ninety days. 2.85% of the stock is currently owned by insiders.

Institutional Trading of Exelixis

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EXEL. Marshall Wace LLP acquired a new position in shares of Exelixis in the 2nd quarter worth approximately $801,000. Squarepoint Ops LLC raised its stake in Exelixis by 242.8% during the second quarter. Squarepoint Ops LLC now owns 89,449 shares of the biotechnology company’s stock worth $2,010,000 after acquiring an additional 63,352 shares in the last quarter. Creative Planning raised its stake in Exelixis by 0.8% during the second quarter. Creative Planning now owns 71,700 shares of the biotechnology company’s stock worth $1,611,000 after acquiring an additional 548 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Exelixis during the second quarter valued at $652,000. Finally, Handelsbanken Fonder AB boosted its stake in shares of Exelixis by 28.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 78,466 shares of the biotechnology company’s stock valued at $2,036,000 after purchasing an additional 17,200 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Exelixis Stock Performance

EXEL opened at $33.55 on Thursday. The company has a market capitalization of $9.58 billion, a P/E ratio of 21.51, a PEG ratio of 0.72 and a beta of 0.53. Exelixis has a 1-year low of $20.01 and a 1-year high of $37.59. The company has a 50-day moving average of $34.50 and a 200-day moving average of $30.35.

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.