Exelixis (NASDAQ:EXEL) Sets New 52-Week High at $25.28

Exelixis, Inc. (NASDAQ:EXEL)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $25.28 and last traded at $24.79, with a volume of 807300 shares. The stock had previously closed at $23.45.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EXEL. StockNews.com upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 13th. Barclays lowered shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective for the company. in a report on Thursday, April 11th. TD Cowen raised their price objective on shares of Exelixis from $25.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. HC Wainwright reiterated a “buy” rating and issued a $28.00 price objective on shares of Exelixis in a report on Friday, May 3rd. Finally, Oppenheimer reiterated an “outperform” rating and issued a $29.00 price objective on shares of Exelixis in a report on Tuesday, July 30th. Seven 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 company has an average rating of “Moderate Buy” and an average target price of $26.13.

Exelixis Stock Performance

The business has a 50 day moving average price of $22.34 and a two-hundred day moving average price of $22.22. The stock has a market cap of $7.85 billion, a PE ratio of 39.67, a P/E/G ratio of 0.60 and a beta of 0.54.

Insider Activity at Exelixis

In related news, Director George Poste sold 11,686 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $20.96, for a total value of $244,938.56. Following the transaction, the director now owns 213,907 shares in the company, valued at $4,483,490.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Exelixis news, Director George Poste sold 11,686 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $20.96, for a total transaction of $244,938.56. Following the sale, the director now owns 213,907 shares in the company, valued at $4,483,490.72. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David Edward Johnson purchased 200,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was purchased at an average cost of $20.32 per share, for a total transaction of $4,064,000.00. Following the acquisition, the director now owns 1,300,730 shares of the company’s stock, valued at approximately $26,430,833.60. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 30,896 shares of company stock worth $660,677. Insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in EXEL. Fisher Asset Management LLC boosted its holdings in shares of Exelixis by 232.6% during the fourth quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 728 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Exelixis during the fourth quarter worth about $27,000. Rise Advisors LLC purchased a new stake in shares of Exelixis during the first quarter worth about $28,000. Park Place Capital Corp purchased a new stake in shares of Exelixis during the second quarter worth about $45,000. Finally, USA Financial Formulas lifted its holdings in Exelixis by 1,548.0% in the fourth quarter. USA Financial Formulas now owns 2,060 shares of the biotechnology company’s stock worth $49,000 after buying an additional 1,935 shares during the period. Institutional investors own 85.27% of the company’s stock.

Exelixis Company Profile

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.