Exelixis (NASDAQ:EXEL) Earns Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Exelixis (NASDAQ:EXEL) in a research note published on Wednesday, Benzinga reports. The firm currently has a $29.00 price target on the biotechnology company’s stock.

A number of other equities analysts also recently issued reports on EXEL. Royal Bank of Canada reiterated an outperform rating and issued a $27.00 price target on shares of Exelixis in a report on Wednesday, August 7th. StockNews.com upgraded shares of Exelixis from a buy rating to a strong-buy rating in a report on Saturday, July 13th. JMP Securities increased their price objective on shares of Exelixis from $27.00 to $29.00 and gave the company a market outperform rating in a research note on Wednesday, August 7th. Oppenheimer reissued an outperform rating and issued a $29.00 price objective on shares of Exelixis in a research note on Tuesday, July 30th. Finally, Truist Financial reissued a buy rating and issued a $33.00 price objective (up from $32.00) on shares of Exelixis in a research note on Thursday, August 8th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $27.67.

Exelixis Stock Performance

Shares of Exelixis stock opened at $26.42 on Wednesday. The company has a market cap of $8.01 billion, a P/E ratio of 41.28, a PEG ratio of 0.58 and a beta of 0.54. Exelixis has a one year low of $18.64 and a one year high of $27.83. The firm has a fifty day moving average of $25.12 and a two-hundred day moving average of $23.31.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.44. The company had revenue of $637.18 million during the quarter, compared to the consensus estimate of $468.21 million. Exelixis had a net margin of 17.38% and a return on equity of 15.54%. As a group, equities analysts predict that Exelixis will post 1.54 earnings per share for the current year.

Insider Transactions at Exelixis

In other news, CFO Christopher J. Senner sold 125,000 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 721,680 shares in the company, valued at approximately $19,622,479.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Maria C. Freire sold 8,250 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $26.56, for a total value of $219,120.00. Following the transaction, the director now owns 91,007 shares in the company, valued at $2,417,145.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 transaction, the chief financial officer now owns 721,680 shares in the company, valued at approximately $19,622,479.20. The disclosure for this sale can be found here. Insiders have sold a total of 302,858 shares of company stock worth $7,980,629 in the last three months. Company insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Farallon Capital Management LLC raised its holdings in Exelixis by 1.6% in the second quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock valued at $608,993,000 after buying an additional 424,000 shares during the period. Renaissance Technologies LLC raised its holdings in Exelixis by 0.4% in the second quarter. Renaissance Technologies LLC now owns 15,163,066 shares of the biotechnology company’s stock valued at $340,714,000 after buying an additional 61,350 shares during the period. LSV Asset Management raised its holdings in Exelixis by 107.7% in 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 period. Dimensional Fund Advisors LP raised its holdings in Exelixis by 7.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,137,201 shares of the biotechnology company’s stock valued at $115,434,000 after buying an additional 349,837 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of Exelixis by 12.7% during the second quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock valued at $73,425,000 after purchasing an additional 370,199 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

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.