Exelixis’ (EXEL) Market Outperform Rating Reiterated at JMP Securities

Exelixis (NASDAQ:EXEL)‘s stock had its “market outperform” rating restated by equities research analysts at JMP Securities in a report issued on Thursday,Benzinga reports. They presently have a $41.00 price objective on the biotechnology company’s stock. JMP Securities’ price objective points to a potential upside of 25.33% from the stock’s previous close.

Several other research firms also recently commented on EXEL. The Goldman Sachs Group raised Exelixis to a “strong sell” rating in a research note on Tuesday, October 15th. Oppenheimer increased their price objective on Exelixis from $38.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Brookline Capital Management assumed coverage on Exelixis in a research note on Monday, December 23rd. They issued a “buy” rating for the company. Truist Financial raised their target price on Exelixis from $38.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Finally, Bank of America cut Exelixis from a “buy” rating to a “neutral” rating and raised their target price for the company from $35.00 to $39.00 in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.50.

Exelixis Stock Performance

NASDAQ EXEL traded down $0.17 during trading hours on Thursday, reaching $32.71. The stock had a trading volume of 125,051 shares, compared to its average volume of 2,518,270. The stock has a fifty day moving average of $34.93 and a 200 day moving average of $29.61. The stock has a market cap of $9.34 billion, a P/E ratio of 20.87, a price-to-earnings-growth ratio of 0.80 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 released its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The business had revenue of $539.50 million for the quarter, compared to analyst estimates of $490.31 million. During the same quarter in the prior year, the firm posted $0.10 EPS. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. On average, equities research analysts forecast that Exelixis will post 1.74 EPS for the current year.

Insider Transactions at Exelixis

In other Exelixis news, EVP Dana Aftab sold 1,162 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total transaction of $36,486.80. Following the completion of the sale, the executive vice president now owns 498,945 shares in the company, valued at $15,666,873. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $36.67, for a total value of $2,200,200.00. Following the sale, the executive vice president now owns 486,059 shares of the company’s stock, valued at approximately $17,823,783.53. This trade represents a 10.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 314,736 shares of company stock worth $10,849,110 in the last three months. 2.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of EXEL. V Square Quantitative Management LLC bought a new stake in Exelixis during the 3rd quarter valued at $30,000. USA Financial Formulas acquired a new position in shares of Exelixis during the 4th quarter valued at $32,000. Brooklyn Investment Group acquired a new position in shares of Exelixis in the 3rd quarter worth $42,000. UMB Bank n.a. grew its holdings in shares of Exelixis by 68.4% in the 4th quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 553 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of Exelixis in the 3rd quarter worth $61,000. Institutional investors own 85.27% of the company’s stock.

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.