Exelixis’ (EXEL) Market Outperform Rating Reiterated at JMP Securities

JMP Securities restated their market outperform rating on shares of Exelixis (NASDAQ:EXEL) in a research note published on Friday, Benzinga reports. JMP Securities currently has a $29.00 price target on the biotechnology company’s stock.

EXEL has been the subject of several other research reports. Oppenheimer reiterated an outperform rating and issued a $29.00 price objective on shares of Exelixis in a research report on Tuesday, July 30th. UBS Group began coverage on Exelixis in a research note on Thursday, September 19th. They set a neutral rating and a $30.00 target price on the stock. Truist Financial reissued a buy rating and set a $33.00 target price (up from $32.00) on shares of Exelixis in a research note on Thursday, August 8th. StockNews.com raised Exelixis from a buy rating to a strong-buy rating in a research note on Saturday, July 13th. Finally, HC Wainwright reaffirmed a buy rating and issued a $29.00 price target on shares of Exelixis in a research note on Wednesday, September 18th. Five equities 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. According to MarketBeat, Exelixis has a consensus rating of Moderate Buy and a consensus target price of $27.67.

Exelixis Stock Performance

Shares of EXEL opened at $26.36 on Friday. The firm has a market cap of $7.99 billion, a P/E ratio of 41.19, a price-to-earnings-growth ratio of 0.58 and a beta of 0.54. Exelixis has a fifty-two week low of $18.64 and a fifty-two week high of $27.83. The business has a 50-day moving average of $25.28 and a 200 day moving average of $23.38.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.44. The business had revenue of $637.18 million during the quarter, compared to analyst estimates of $468.21 million. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. As a group, research analysts predict that Exelixis will post 1.54 earnings per share for the current fiscal year.

Insider Transactions at Exelixis

In other news, EVP Jeffrey Hessekiel sold 20,000 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $25.79, for a total value of $515,800.00. Following the completion of the transaction, the executive vice president now directly owns 630,325 shares of the company’s stock, valued at approximately $16,256,081.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Dana Aftab sold 95,000 shares of the company’s stock in a transaction dated 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 directly owns 520,990 shares of the company’s stock, valued at approximately $13,024,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey Hessekiel sold 20,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $25.79, for a total value of $515,800.00. Following the completion of the transaction, the executive vice president now directly owns 630,325 shares in the company, valued at $16,256,081.75. The disclosure for this sale can be found here. In the last three months, insiders sold 302,858 shares of company stock valued at $7,980,629. Corporate insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

A number of hedge funds have recently modified their holdings of EXEL. Fisher Asset Management LLC boosted its stake in shares of Exelixis by 232.6% in the fourth 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 last quarter. Rise Advisors LLC purchased a new stake in shares of Exelixis in the first quarter worth about $28,000. Park Place Capital Corp purchased a new stake in shares of Exelixis in the second quarter worth about $45,000. GAMMA Investing LLC boosted its stake 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 buying an additional 1,041 shares during the last quarter. Finally, EntryPoint Capital LLC boosted its stake 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 buying an additional 1,746 shares during the last quarter. Hedge funds and other 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.