Exelixis (NASDAQ:EXEL) Upgraded at Truist Financial

Truist Financial upgraded shares of Exelixis (NASDAQ:EXEL) to a strong-buy rating in a report issued on Wednesday,Zacks.com reports.

A number of other research analysts also recently weighed in on the stock. Barclays upped their price objective on shares of Exelixis from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 4th. UBS Group set a $41.00 price target on Exelixis in a research note on Monday, January 5th. Stifel Nicolaus upped their price target on Exelixis from $43.00 to $44.00 and gave the stock a “hold” rating in a report on Wednesday, February 11th. Royal Bank Of Canada lowered their price target on Exelixis from $46.00 to $43.00 and set a “sector perform” rating on the stock in a research report on Monday, March 2nd. Finally, Wells Fargo & Company raised their price objective on Exelixis from $30.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $46.94.

Exelixis Price Performance

Shares of NASDAQ EXEL opened at $41.53 on Wednesday. The stock has a market capitalization of $10.79 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 0.95 and a beta of 0.41. The firm’s 50 day simple moving average is $42.77 and its 200-day simple moving average is $41.94. Exelixis has a 12 month low of $32.38 and a 12 month high of $49.62.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.20. Exelixis had a net margin of 33.73% and a return on equity of 36.29%. The firm had revenue of $598.66 million during the quarter, compared to analysts’ expectations of $609.17 million. During the same period in the previous year, the business posted $0.55 EPS. The business’s revenue was up 5.6% compared to the same quarter last year. Analysts anticipate that Exelixis will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Exelixis

In related news, CFO Christopher J. Senner sold 30,617 shares of Exelixis stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $43.67, for a total value of $1,337,044.39. Following the sale, the chief financial officer directly owned 976,092 shares in the company, valued at approximately $42,625,937.64. The trade was a 3.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Brenda Hefti sold 18,669 shares of Exelixis stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $44.01, for a total value of $821,622.69. Following the completion of the sale, the senior vice president owned 96,512 shares in the company, valued at approximately $4,247,493.12. The trade was a 16.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 362,849 shares of company stock valued at $15,917,463. Corporate insiders own 2.82% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Several hedge funds and other institutional investors have recently made changes to their positions in EXEL. Motiv8 Investments LLC purchased a new stake in shares of Exelixis during the fourth quarter worth approximately $26,000. Richardson Financial Services Inc. lifted its holdings in Exelixis by 95.1% in the 3rd quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 292 shares in the last quarter. Anchor Investment Management LLC lifted its holdings in Exelixis by 500.0% in the 3rd quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 500 shares in the last quarter. Acumen Wealth Advisors LLC acquired a new stake in Exelixis during the 4th quarter worth $29,000. Finally, Root Financial Partners LLC purchased a new stake in shares of Exelixis during the third quarter worth $28,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

About Exelixis

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.