Exelixis (NASDAQ:EXEL) Receives “Market Outperform” Rating from JMP Securities

JMP Securities reiterated their market outperform rating on shares of Exelixis (NASDAQ:EXEL) in a research report released on Thursday,Benzinga reports. JMP Securities currently has a $41.00 price target on the biotechnology company’s stock.

Other research analysts have also recently issued reports about the stock. Truist Financial upped their price objective on shares of Exelixis from $38.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. The Goldman Sachs Group raised shares of Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. Bank of America lowered shares of Exelixis from a “buy” rating to a “neutral” rating and upped their target price for the stock from $35.00 to $39.00 in a research report on Tuesday, December 17th. Stifel Nicolaus raised their price target on Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Finally, Guggenheim reiterated a “buy” rating on shares of Exelixis in a report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Exelixis presently has an average rating of “Moderate Buy” and a consensus target price of $35.50.

Exelixis Price Performance

NASDAQ EXEL opened at $34.13 on Thursday. The company’s 50 day simple moving average is $34.91 and its two-hundred day simple moving average is $29.64. Exelixis has a 1 year low of $20.01 and a 1 year high of $37.59. The stock has a market capitalization of $9.75 billion, a PE ratio of 21.88, a P/E/G ratio of 0.80 and a beta of 0.53.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The company had revenue of $539.50 million for the quarter, compared to the consensus estimate of $490.31 million. During the same quarter last year, the business posted $0.10 earnings per share. The firm’s revenue was up 14.3% compared to the same quarter last year. On average, research analysts anticipate that Exelixis will post 1.74 EPS for the current year.

Insiders Place Their Bets

In other Exelixis news, EVP Dana Aftab sold 1,162 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total value of $36,486.80. Following the completion of the sale, the executive vice president now owns 498,945 shares in the company, valued at approximately $15,666,873. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the business’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 transaction, the executive vice president now directly owns 486,059 shares in the company, valued at $17,823,783.53. This trade represents a 10.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 314,736 shares of company stock valued at $10,849,110 in the last quarter. Insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

A number of large investors have recently modified their holdings of EXEL. AQR Capital Management LLC lifted its holdings in Exelixis by 12.7% in the second quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock worth $73,425,000 after buying an additional 370,199 shares during the period. FMR LLC lifted its stake in shares of Exelixis by 6.1% in the 3rd quarter. FMR LLC now owns 2,462,072 shares of the biotechnology company’s stock valued at $63,891,000 after purchasing an additional 140,568 shares during the period. Los Angeles Capital Management LLC boosted its position in shares of Exelixis by 124.0% during the third quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock valued at $46,473,000 after purchasing an additional 991,494 shares in the last quarter. Two Sigma Advisers LP grew its stake in Exelixis by 6.1% in the third quarter. Two Sigma Advisers LP now owns 1,702,590 shares of the biotechnology company’s stock worth $44,182,000 after purchasing an additional 98,000 shares during the period. Finally, Systematic Financial Management LP raised its holdings in Exelixis by 7.1% in the third quarter. Systematic Financial Management LP now owns 1,168,391 shares of the biotechnology company’s stock worth $30,320,000 after purchasing an additional 77,599 shares in the last quarter. 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.