Exelixis’ (EXEL) Buy Rating Reaffirmed at HC Wainwright

Exelixis (NASDAQ:EXEL)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research note issued to investors on Friday, Benzinga reports. They presently have a $28.00 target price on the biotechnology company’s stock. HC Wainwright’s target price suggests a potential upside of 27.85% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. William Blair reiterated an “outperform” rating on shares of Exelixis in a report on Wednesday. TheStreet upgraded shares of Exelixis from a “c+” rating to a “b-” rating in a research note on Monday, March 18th. JMP Securities reaffirmed a “market outperform” rating and issued a $27.00 price objective on shares of Exelixis in a research note on Wednesday, April 10th. Stifel Nicolaus increased their target price 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. Finally, TD Cowen upped their price target on Exelixis from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $26.33.

Exelixis Stock Performance

Shares of EXEL stock traded down $0.22 during trading on Friday, hitting $21.90. 2,475,481 shares of the company were exchanged, compared to its average volume of 2,224,510. The firm has a market capitalization of $6.38 billion, a price-to-earnings ratio of 34.22, a P/E/G ratio of 0.56 and a beta of 0.57. The business’s 50-day simple moving average is $22.98 and its 200 day simple moving average is $22.23. Exelixis has a twelve month low of $18.52 and a twelve 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). Exelixis had a net margin of 11.10% and a return on equity of 8.85%. The company had revenue of $425.23 million for the quarter, compared to analysts’ expectations of $461.04 million. During the same quarter in the prior year, the firm earned $0.12 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. On average, equities analysts forecast that Exelixis will post 1.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Exelixis

In other news, Director David Edward Johnson bought 190,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was bought at an average price of $20.70 per share, for a total transaction of $3,933,000.00. Following the completion of the transaction, the director now directly owns 1,100,730 shares in the company, valued at approximately $22,785,111. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Alan M. Garber sold 19,205 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $24.01, for a total value of $461,112.05. Following the transaction, the director now owns 35,703 shares of the company’s stock, valued at approximately $857,229.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Edward Johnson purchased 190,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were acquired at an average cost of $20.70 per share, with a total value of $3,933,000.00. Following the completion of the purchase, the director now owns 1,100,730 shares of the company’s stock, valued at $22,785,111. The disclosure for this purchase can be found here. Corporate insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

Institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Exelixis by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,364,480 shares of the biotechnology company’s stock valued at $80,714,000 after purchasing an additional 28,840 shares during the period. First Trust Advisors LP lifted its stake in Exelixis by 18.5% in the fourth quarter. First Trust Advisors LP now owns 3,152,755 shares of the biotechnology company’s stock valued at $75,635,000 after buying an additional 492,613 shares during the period. Norges Bank bought a new position in Exelixis during the fourth quarter worth about $73,449,000. FMR LLC grew its position in shares of Exelixis by 9.3% during the 3rd quarter. FMR LLC now owns 2,884,424 shares of the biotechnology company’s stock worth $63,025,000 after buying an additional 246,605 shares during the period. Finally, Los Angeles Capital Management LLC increased its stake in shares of Exelixis by 948.3% in the 1st quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock valued at $58,240,000 after acquiring an additional 2,220,150 shares during the last quarter. 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.