Exelixis, Inc. (NASDAQ:EXEL) Given Average Rating of “Hold” by Analysts

Exelixis, Inc. (NASDAQ:EXEL) has received a consensus rating of “Hold” from the twenty research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $50.0667.

A number of brokerages have recently issued reports on EXEL. Wells Fargo & Company boosted their price target on shares of Exelixis from $40.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Monday, July 13th. Citizens Jmp increased their price objective on shares of Exelixis from $50.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Wednesday, June 24th. BMO Capital Markets began coverage on Exelixis in a research report on Tuesday, August 18th. They issued a “market perform” rating and a $54.00 target price for the company. Stifel Nicolaus upped their price target on Exelixis from $47.00 to $51.00 and gave the stock a “hold” rating in a research note on Thursday, August 6th. Finally, Royal Bank Of Canada lifted their price objective on shares of Exelixis from $43.00 to $46.00 and gave the company a “sector perform” rating in a report on Tuesday, July 7th.

Exelixis Stock Up 1.0%

Shares of NASDAQ:EXEL opened at $59.13 on Friday. The firm has a market cap of $14.65 billion, a P/E ratio of 18.59, a P/E/G ratio of 1.74 and a beta of 0.42. Exelixis has a 12-month low of $33.76 and a 12-month high of $59.72. The business has a fifty day simple moving average of $54.98 and a 200 day simple moving average of $49.44.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $628.69 million during the quarter, compared to the consensus estimate of $636.40 million. Exelixis had a return on equity of 42.17% and a net margin of 35.33%.The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company earned $0.75 earnings per share. As a group, equities research analysts expect that Exelixis will post 3.19 EPS for the current year.

Insider Buying and Selling

In other news, Director Mary Beckerle sold 9,812 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $53.66, for a total value of $526,511.92. Following the completion of the sale, the director directly owned 16,079 shares of the company’s stock, valued at $862,799.14. This represents a 37.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Exelixis

A number of institutional investors and hedge funds have recently bought and sold shares of EXEL. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Exelixis by 0.5% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 59,420 shares of the biotechnology company’s stock worth $2,549,000 after acquiring an additional 281 shares in the last quarter. Meeder Advisory Services Inc. lifted its position in shares of Exelixis by 5.8% during the fourth quarter. Meeder Advisory Services Inc. now owns 5,406 shares of the biotechnology company’s stock valued at $237,000 after purchasing an additional 298 shares in the last quarter. Cim LLC boosted its holdings in Exelixis by 0.9% during the third quarter. Cim LLC now owns 35,397 shares of the biotechnology company’s stock worth $1,462,000 after purchasing an additional 305 shares during the last quarter. J.W. Cole Advisors Inc. boosted its holdings in Exelixis by 6.5% during the fourth quarter. J.W. Cole Advisors Inc. now owns 5,354 shares of the biotechnology company’s stock worth $235,000 after purchasing an additional 329 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its position in Exelixis by 3.8% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 9,077 shares of the biotechnology company’s stock worth $389,000 after purchasing an additional 333 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Company Profile

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.