Brookline Capital Management Begins Coverage on Exelixis (NASDAQ:EXEL)

Brookline Capital Management started coverage on shares of Exelixis (NASDAQ:EXEL) in a note issued to investors on Monday,Benzinga reports. The firm set a “buy” rating on the biotechnology company’s stock.

Other analysts have also recently issued research reports about the stock. The Goldman Sachs Group raised shares of Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. Wells Fargo & Company raised their price target on Exelixis from $32.00 to $36.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. JMP Securities reaffirmed a “market outperform” rating and issued a $29.00 target price on shares of Exelixis in a report on Friday, October 11th. TD Cowen raised their price target on Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $34.00 price target on shares of Exelixis in a research report on Wednesday, October 30th. One 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.44.

Exelixis Stock Performance

EXEL stock opened at $33.29 on Monday. The firm has a fifty day moving average price of $33.51 and a 200 day moving average price of $27.59. Exelixis has a fifty-two week low of $19.20 and a fifty-two week high of $36.97. The firm has a market cap of $9.51 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 0.89 and a beta of 0.52.

Exelixis (NASDAQ:EXEL) last posted 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. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The firm had revenue of $539.50 million for the quarter, compared to analyst estimates of $490.31 million. During the same period in the previous year, the business posted $0.10 earnings per share. Exelixis’s quarterly revenue was up 14.3% on a year-over-year basis. On average, equities analysts predict that Exelixis will post 1.69 EPS for the current year.

Insider Activity

In other Exelixis news, EVP Jeffrey Hessekiel sold 25,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $28.39, for a total transaction of $709,750.00. Following the completion of the transaction, the executive vice president now directly owns 580,325 shares in the company, valued at approximately $16,475,426.75. This trade represents a 4.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Patrick J. Haley sold 41,588 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.36, for a total transaction of $1,428,963.68. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 314,736 shares of company stock worth $10,849,110. Company insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Retirement Systems of Alabama increased its position in Exelixis by 24.6% during the third quarter. Retirement Systems of Alabama now owns 911,497 shares of the biotechnology company’s stock worth $23,653,000 after buying an additional 180,021 shares in the last quarter. Tri Ri Asset Management Corp acquired a new stake in shares of Exelixis during the third quarter valued at $4,396,000. Tidal Investments LLC increased its position in Exelixis by 2.3% during the 3rd quarter. Tidal Investments LLC now owns 36,366 shares of the biotechnology company’s stock worth $944,000 after purchasing an additional 823 shares in the last quarter. Sanctuary Advisors LLC raised its stake in Exelixis by 42.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 39,261 shares of the biotechnology company’s stock valued at $1,019,000 after purchasing an additional 11,757 shares during the last quarter. Finally, TD Private Client Wealth LLC lifted its holdings in Exelixis by 376.8% in the 3rd quarter. TD Private Client Wealth LLC now owns 9,756 shares of the biotechnology company’s stock valued at $253,000 after purchasing an additional 7,710 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

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.