Exelixis (NASDAQ:EXEL) Reaches New 12-Month High at $27.71

Shares of Exelixis, Inc. (NASDAQ:EXEL) hit a new 52-week high during trading on Tuesday . The stock traded as high as $27.71 and last traded at $27.61, with a volume of 115970 shares traded. The stock had previously closed at $27.47.

Wall Street Analyst Weigh In

EXEL has been the subject of a number of research reports. JMP Securities increased their target price on shares of Exelixis from $27.00 to $29.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 7th. StockNews.com upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 13th. Truist Financial reaffirmed a “buy” rating and set a $33.00 price objective (up from $32.00) on shares of Exelixis in a research note on Thursday, August 8th. Royal Bank of Canada reissued an “outperform” rating and set a $27.00 price target on shares of Exelixis in a research report on Wednesday, August 7th. Finally, Oppenheimer restated an “outperform” rating and set a $29.00 target price on shares of Exelixis in a report on Tuesday, July 30th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Exelixis presently has an average rating of “Moderate Buy” and an average target price of $27.43.

Exelixis Stock Up 0.4 %

The stock has a market capitalization of $8.36 billion, a PE ratio of 42.92, a PEG ratio of 0.58 and a beta of 0.54. The company has a 50-day moving average of $24.83 and a 200 day moving average of $23.23.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.44. The business had revenue of $637.18 million during the quarter, compared to analysts’ expectations 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, Inc. will post 1.54 EPS for the current fiscal year.

Insider Transactions at Exelixis

In other Exelixis news, CFO Christopher J. Senner sold 125,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $27.19, for a total value of $3,398,750.00. Following the sale, the chief financial officer now directly owns 721,680 shares of the company’s stock, valued at approximately $19,622,479.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Exelixis news, CFO Christopher J. Senner sold 125,000 shares of the firm’s stock in a transaction 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 directly owns 721,680 shares of the company’s stock, valued at approximately $19,622,479.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dana Aftab sold 95,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total transaction of $2,375,000.00. Following the sale, the executive vice president now owns 520,990 shares in the company, valued at approximately $13,024,750. The disclosure for this sale can be found here. Insiders sold a total of 302,858 shares of company stock valued at $7,980,629 in the last ninety days. Corporate insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

Large investors have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Exelixis during the 4th quarter valued at $73,449,000. LSV Asset Management increased its stake 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 acquiring an additional 2,989,021 shares during the period. Los Angeles Capital Management LLC raised its holdings in shares of Exelixis by 948.3% in the 1st quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock worth $58,240,000 after buying an additional 2,220,150 shares in the last quarter. Jupiter Asset Management Ltd. raised its stake in Exelixis by 148.2% during the first quarter. Jupiter Asset Management Ltd. now owns 2,267,894 shares of the biotechnology company’s stock worth $53,817,000 after acquiring an additional 1,354,062 shares in the last quarter. Finally, Swedbank AB bought a new position in Exelixis during the 1st quarter valued at about $22,455,000. 85.27% of the stock is owned by institutional investors.

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.