Exelixis (NASDAQ:EXEL) Given Outperform Rating at Royal Bank of Canada

by · The Cerbat Gem

Royal Bank of Canada reissued their outperform rating on shares of Exelixis (NASDAQ:EXEL – Free Report) in a research note published on Thursday, Benzinga reports. They currently have a $27.00 price target on the biotechnology company’s stock.

Other equities analysts have also recently issued reports about the stock. Oppenheimer restated an outperform rating and set a $29.00 price objective on shares of Exelixis in a research report on Tuesday, July 30th. StockNews.com upgraded shares of Exelixis from a buy rating to a strong-buy rating in a research report on Saturday, July 13th. UBS Group started coverage on shares of Exelixis in a research note on Thursday, September 19th. They issued a neutral rating and a $30.00 price target on the stock. JMP Securities reiterated a market outperform rating and set a $29.00 price objective on shares of Exelixis in a research note on Friday, September 20th. Finally, Truist Financial reissued a buy rating and set a $33.00 target price (up previously from $32.00) on shares of Exelixis in a report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $27.67.

Get Our Latest Report on EXEL

Exelixis Stock Down 1.1 %

NASDAQ:EXEL opened at $25.96 on Thursday. Exelixis has a 52 week low of $18.64 and a 52 week high of $27.83. The stock’s 50-day moving average price is $25.56 and its 200-day moving average price is $23.48. The stock has a market capitalization of $7.87 billion, a PE ratio of 40.56, a price-to-earnings-growth ratio of 0.56 and a beta of 0.54.

Exelixis (NASDAQ:EXEL – Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.44. The company had revenue of $637.18 million for the quarter, compared to the consensus estimate of $468.21 million. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. Sell-side analysts expect that Exelixis will post 1.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Exelixis news, CFO Christopher J. Senner sold 125,000 shares of Exelixis 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 of the company’s stock, valued at $19,622,479.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, 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 sale, the chief financial officer now owns 721,680 shares in the company, valued at approximately $19,622,479.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Dana Aftab sold 95,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $25.00, for a total value of $2,375,000.00. Following the completion of the transaction, the executive vice president now owns 520,990 shares in the company, valued at $13,024,750. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 327,858 shares of company stock worth $8,640,129. Insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Fisher Asset Management LLC lifted its position in Exelixis by 232.6% in the fourth quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 728 shares during the last quarter. Rise Advisors LLC acquired a new position in shares of Exelixis in the 1st quarter worth approximately $28,000. Park Place Capital Corp purchased a new position in shares of Exelixis during the 2nd quarter worth approximately $45,000. GAMMA Investing LLC increased its holdings in Exelixis by 107.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 1,041 shares during the last quarter. Finally, EntryPoint Capital LLC increased its holdings in Exelixis by 537.2% in the 1st quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock valued at $49,000 after purchasing an additional 1,746 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

About Exelixis

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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.

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