Exelixis’ (EXEL) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Exelixis (NASDAQ:EXEL) in a report issued on Wednesday morning, Benzinga reports. The firm currently has a $34.00 target price on the biotechnology company’s stock.

A number of other equities research analysts have also recently weighed in on the company. Truist Financial lifted their price objective on Exelixis from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday. JMP Securities reaffirmed a “market outperform” rating and issued a $29.00 price target on shares of Exelixis in a report on Friday, October 11th. UBS Group initiated coverage on shares of Exelixis in a report on Thursday, September 19th. They set a “neutral” rating and a $30.00 price objective on the stock. TD Cowen boosted their target price on shares of Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Stifel Nicolaus increased their price target on shares of Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.44.

Exelixis Stock Performance

Shares of NASDAQ EXEL opened at $34.12 on Wednesday. The business has a fifty day moving average of $27.13 and a two-hundred day moving average of $24.29. Exelixis has a 52-week low of $19.20 and a 52-week high of $34.45. The stock has a market cap of $9.74 billion, a PE ratio of 21.87, a PEG ratio of 0.69 and a beta of 0.54.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The firm had revenue of $539.50 million for the quarter, compared to analyst estimates of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 earnings per share. Analysts predict that Exelixis will post 1.59 earnings per share for the current year.

Insider Activity

In related news, CFO Christopher J. Senner sold 125,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $27.19, for a total value of $3,398,750.00. Following the sale, the chief financial officer now directly owns 721,680 shares in the company, valued at $19,622,479.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Christopher J. Senner sold 125,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $27.19, for a total value of $3,398,750.00. Following the completion of the sale, the chief financial officer now owns 721,680 shares in the company, valued at $19,622,479.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Dana Aftab sold 1,162 shares of Exelixis stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total value of $36,486.80. Following the transaction, the executive vice president now owns 498,945 shares in the company, valued at approximately $15,666,873. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 354,020 shares of company stock valued at $9,386,366 in the last ninety days. 2.85% of the stock is owned by insiders.

Institutional Trading of Exelixis

A number of large investors have recently bought and sold shares of the business. LSV Asset Management boosted its holdings in shares of Exelixis by 1,651.4% in the first quarter. LSV Asset Management now owns 2,774,707 shares of the biotechnology company’s stock valued at $65,844,000 after buying an additional 2,616,278 shares during the period. Hsbc Holdings PLC lifted its position in Exelixis by 45.3% in the 2nd quarter. Hsbc Holdings PLC now owns 90,211 shares of the biotechnology company’s stock valued at $2,031,000 after acquiring an additional 28,126 shares in the last quarter. Farallon Capital Management LLC boosted its stake in Exelixis by 1.6% in the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock worth $608,993,000 after purchasing an additional 424,000 shares during the period. Intech Investment Management LLC increased its holdings in Exelixis by 155.8% during the 1st quarter. Intech Investment Management LLC now owns 100,039 shares of the biotechnology company’s stock worth $2,374,000 after purchasing an additional 60,925 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of Exelixis in the 1st quarter valued at about $1,281,000. 85.27% of the stock is owned by institutional investors.

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.