Royal Bank of Canada Reiterates “Outperform” Rating for Exelixis (NASDAQ:EXEL)

Exelixis (NASDAQ:EXEL)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada in a report released on Thursday, Benzinga reports. They presently have a $27.00 price objective on the biotechnology company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 4.01% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Oppenheimer reaffirmed an “outperform” rating and set a $29.00 price target on shares of Exelixis in a research report on Tuesday, July 30th. JMP Securities reaffirmed a “market outperform” rating and set a $29.00 price target on shares of Exelixis in a research report on Friday, September 20th. HC Wainwright reaffirmed a “buy” rating and set a $29.00 price target on shares of Exelixis in a research report on Wednesday, September 18th. UBS Group began coverage on Exelixis in a report on Thursday, September 19th. They issued a “neutral” rating and a $30.00 price objective for the company. Finally, Truist Financial reissued a “buy” rating and issued a $33.00 price objective (up previously from $32.00) on shares of Exelixis in a report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.67.

Exelixis Stock Performance

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 business has a 50 day simple moving average of $25.56 and a 200 day simple moving average of $23.48. The stock has a market cap of $7.41 billion, a price-to-earnings ratio of 40.56, a PEG ratio of 0.56 and a beta of 0.54.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.44. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. The firm had revenue of $637.18 million during the quarter, compared to the consensus estimate of $468.21 million. On average, analysts predict that Exelixis will post 1.59 EPS for the current year.

Insider Activity at Exelixis

In related news, Director Maria C. Freire sold 8,250 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $26.56, for a total value of $219,120.00. Following the sale, the director now owns 91,007 shares in the company, valued at approximately $2,417,145.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Exelixis news, EVP Dana Aftab sold 95,000 shares of the stock in a transaction on 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 transaction, the executive vice president now owns 520,990 shares in the company, valued at approximately $13,024,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Maria C. Freire sold 8,250 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $26.56, for a total value of $219,120.00. Following the transaction, the director now owns 91,007 shares in the company, valued at approximately $2,417,145.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 327,858 shares of company stock worth $8,640,129. Company insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Fisher Asset Management LLC increased its position in Exelixis by 232.6% during the 4th quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock worth $25,000 after buying an additional 728 shares during the period. Rise Advisors LLC bought a new position in Exelixis during the 1st quarter worth $28,000. Park Place Capital Corp bought a new position in Exelixis during the 2nd quarter worth $45,000. GAMMA Investing LLC increased its position in shares of Exelixis by 107.9% in the second quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 1,041 shares during the period. Finally, EntryPoint Capital LLC increased its position in shares of Exelixis by 537.2% in the first quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock worth $49,000 after purchasing an additional 1,746 shares during the period. 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.