Exelixis (NASDAQ:EXEL) Earns “Outperform” Rating from William Blair

William Blair reaffirmed their outperform rating on shares of Exelixis (NASDAQ:EXEL) in a report published on Wednesday, RTT News reports.

Other research analysts also recently issued reports about the stock. Stifel Nicolaus raised their price objective on shares of Exelixis from $23.00 to $25.00 and gave the stock a hold rating in a research report on Friday, February 2nd. Royal Bank of Canada increased their price objective on Exelixis from $26.00 to $28.00 and gave the stock an outperform rating in a research report on Wednesday, February 7th. TheStreet raised Exelixis from a c+ rating to a b- rating in a report on Monday, March 18th. Barclays downgraded shares of Exelixis from an overweight rating to an equal weight rating and set a $25.00 price objective for the company. in a research report on Thursday, April 11th. Finally, JMP Securities reiterated a market outperform rating and set a $27.00 price target on shares of Exelixis in a research note on Wednesday, April 10th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Exelixis has an average rating of Moderate Buy and an average price target of $26.33.

Exelixis Stock Performance

Shares of EXEL stock opened at $21.93 on Wednesday. Exelixis has a 1 year low of $18.52 and a 1 year high of $24.34. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of 34.26, a PEG ratio of 0.61 and a beta of 0.57. The stock’s 50-day moving average is $22.92 and its two-hundred day moving average is $22.22.

Exelixis (NASDAQ:EXEL) last released 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 firm had revenue of $425.23 million for the quarter, compared to analyst estimates of $461.04 million. Exelixis had a return on equity of 8.62% and a net margin of 11.10%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the firm earned $0.12 EPS. As a group, research analysts predict that Exelixis will post 1.23 EPS for the current year.

Insider Activity at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 47,020 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $21.45, for a total value of $1,008,579.00. Following the sale, the executive vice president now owns 384,866 shares of the company’s stock, valued at $8,255,375.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Exelixis news, Director Alan M. Garber sold 19,205 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $24.01, for a total transaction of $461,112.05. Following the sale, the director now owns 35,703 shares in the company, valued at approximately $857,229.03. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Patrick J. Haley sold 47,020 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $21.45, for a total value of $1,008,579.00. Following the completion of the transaction, the executive vice president now directly owns 384,866 shares of the company’s stock, valued at $8,255,375.70. The disclosure for this sale can be found here. 2.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Exelixis during the fourth quarter worth $73,449,000. Los Angeles Capital Management LLC lifted its holdings in shares of Exelixis by 948.3% during 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 acquiring an additional 2,220,150 shares during the period. Acadian Asset Management LLC boosted its position in shares of Exelixis by 1,043.9% in the third quarter. Acadian Asset Management LLC now owns 1,957,848 shares of the biotechnology company’s stock worth $42,750,000 after acquiring an additional 1,786,687 shares during the last quarter. abrdn plc acquired a new position in Exelixis during the fourth quarter worth approximately $15,997,000. Finally, California Public Employees Retirement System raised its stake in Exelixis by 42.3% during the third quarter. California Public Employees Retirement System now owns 1,771,128 shares of the biotechnology company’s stock worth $38,699,000 after purchasing an additional 526,814 shares during the period. Institutional investors and hedge funds 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.