HC Wainwright Reaffirms Buy Rating for Exelixis (NASDAQ:EXEL)

HC Wainwright reaffirmed their buy rating on shares of Exelixis (NASDAQ:EXEL) in a research report sent to investors on Friday, Benzinga reports. They currently have a $28.00 price target on the biotechnology company’s stock.

Several other equities analysts have also recently issued reports on the company. Royal Bank of Canada lifted their price objective on Exelixis from $26.00 to $28.00 and gave the company an outperform rating in a research note on Wednesday, February 7th. TD Cowen increased their price objective on shares of Exelixis from $25.00 to $27.00 and gave the company a buy rating in a research report on Wednesday, May 1st. JMP Securities restated a market outperform rating and issued a $27.00 price objective on shares of Exelixis in a report on Wednesday, April 10th. William Blair reiterated an outperform rating on shares of Exelixis in a research note on Wednesday, May 1st. Finally, Stifel Nicolaus raised their target price on Exelixis from $23.00 to $25.00 and gave the stock a hold rating in a research report on Friday, February 2nd. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $26.33.

Exelixis Trading Down 1.0 %

Shares of NASDAQ:EXEL opened at $21.90 on Friday. The company has a market capitalization of $6.38 billion, a price-to-earnings ratio of 34.22, a PEG ratio of 0.59 and a beta of 0.57. The business has a 50-day moving average price of $22.98 and a 200 day moving average price of $22.23. Exelixis has a 12-month low of $18.52 and a 12-month high of $24.34.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.16). The business had revenue of $425.23 million during the quarter, compared to analyst estimates of $461.04 million. Exelixis had a return on equity of 8.85% and a net margin of 11.10%. The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.12 EPS. As a group, equities research analysts predict that Exelixis will post 1.17 earnings per share for the current fiscal year.

Insider Transactions at Exelixis

In other Exelixis news, Director David Edward Johnson purchased 190,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was bought at an average cost of $20.70 per share, for a total transaction of $3,933,000.00. Following the acquisition, the director now owns 1,100,730 shares of the company’s stock, valued at approximately $22,785,111. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director David Edward Johnson acquired 190,000 shares of the stock in a transaction on Wednesday, February 21st. The stock was bought at an average price of $20.70 per share, with a total value of $3,933,000.00. Following the completion of the transaction, the director now directly owns 1,100,730 shares of the company’s stock, valued at $22,785,111. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Patrick J. Haley sold 47,020 shares of Exelixis stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $21.45, for a total transaction of $1,008,579.00. Following the sale, the executive vice president now directly owns 384,866 shares in the company, valued at approximately $8,255,375.70. The disclosure for this sale can be found here. Corporate insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

A number of hedge funds have recently bought and sold shares of the business. Alaska Permanent Fund Corp grew its position in shares of Exelixis by 1.5% during the third quarter. Alaska Permanent Fund Corp now owns 40,855 shares of the biotechnology company’s stock worth $893,000 after buying an additional 596 shares in the last quarter. Fifth Third Bancorp lifted its stake in Exelixis by 44.2% during the third quarter. Fifth Third Bancorp now owns 1,970 shares of the biotechnology company’s stock worth $43,000 after purchasing an additional 604 shares during the last quarter. Signaturefd LLC increased its stake in Exelixis by 17.1% during the third quarter. Signaturefd LLC now owns 4,577 shares of the biotechnology company’s stock valued at $100,000 after purchasing an additional 668 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Exelixis by 232.6% during the fourth quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 728 shares during the period. Finally, Treasurer of the State of North Carolina boosted its holdings in shares of Exelixis by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 145,343 shares of the biotechnology company’s stock valued at $3,176,000 after buying an additional 738 shares during the period. Institutional investors and hedge funds 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.