Exelixis’ (EXEL) Buy Rating Reiterated at HC Wainwright

Exelixis (NASDAQ:EXEL)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a note issued to investors on Monday,Benzinga reports. They currently have a $40.00 price objective on the biotechnology company’s stock. HC Wainwright’s price target would indicate a potential upside of 23.53% from the stock’s current price.

EXEL has been the subject of several other research reports. Brookline Capital Management assumed coverage on Exelixis in a research note on Monday, December 23rd. They set a “buy” rating for the company. Morgan Stanley lifted their target price on shares of Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. TD Cowen boosted their price target on shares of Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Piper Sandler lifted their price objective on shares of Exelixis from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Finally, The Goldman Sachs Group upgraded Exelixis to a “strong sell” rating in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.75.

Exelixis Stock Performance

EXEL stock opened at $32.38 on Monday. The business has a 50-day simple moving average of $34.87 and a two-hundred day simple moving average of $29.82. The company has a market capitalization of $9.25 billion, a P/E ratio of 20.76, a price-to-earnings-growth ratio of 0.72 and a beta of 0.53. Exelixis has a 52-week low of $20.01 and a 52-week high of $37.59.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The company had revenue of $539.50 million for 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 firm’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 EPS. As a group, sell-side analysts forecast that Exelixis will post 1.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Jeffrey Hessekiel sold 50,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $34.13, for a total transaction of $1,706,500.00. Following the completion of the sale, the executive vice president now directly owns 530,325 shares in the company, valued at $18,099,992.25. This represents a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Patrick J. Haley sold 41,588 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.36, for a total value of $1,428,963.68. Following the transaction, the executive vice president now directly owns 288,665 shares in the company, valued at $9,918,529.40. This trade represents a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 289,736 shares of company stock worth $10,139,360 over the last 90 days. Corporate insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

Institutional investors have recently bought and sold shares of the stock. Los Angeles Capital Management LLC increased its stake in Exelixis by 124.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock worth $46,473,000 after purchasing an additional 991,494 shares during the period. Caisse DE Depot ET Placement DU Quebec bought a new stake in Exelixis during the 3rd quarter valued at $14,979,000. Burney Co. bought a new stake in Exelixis during the 4th quarter valued at $12,267,000. Robeco Institutional Asset Management B.V. boosted its position in Exelixis by 263.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 483,064 shares of the biotechnology company’s stock valued at $12,536,000 after buying an additional 350,026 shares during the period. Finally, Retirement Systems of Alabama grew its holdings in Exelixis by 24.6% in the 3rd quarter. Retirement Systems of Alabama now owns 911,497 shares of the biotechnology company’s stock worth $23,653,000 after acquiring an additional 180,021 shares during the last quarter. 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.