Exelixis (NASDAQ:EXEL) Given Buy Rating at Guggenheim

Guggenheim restated their buy rating on shares of Exelixis (NASDAQ:EXEL) in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a $42.00 price objective on the biotechnology company’s stock.

EXEL has been the subject of a number of other research reports. Piper Sandler raised their price target on shares of Exelixis from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday. Wells Fargo & Company lifted their target price on Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. StockNews.com lowered Exelixis from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Royal Bank of Canada restated an “outperform” rating and issued a $34.00 price objective on shares of Exelixis in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group raised shares of Exelixis to a “strong sell” rating in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $37.00.

Exelixis Stock Performance

Shares of Exelixis stock opened at $32.80 on Wednesday. The business’s 50 day moving average price is $34.24 and its 200 day moving average price is $30.72. The company has a market cap of $9.37 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 0.63 and a beta of 0.53. Exelixis has a one year low of $20.14 and a one year high of $37.59.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a net margin of 22.43% and a return on equity of 20.99%. On average, analysts predict that Exelixis will post 1.74 EPS for the current fiscal year.

Insider Activity at Exelixis

In other news, EVP Patrick J. Haley sold 10,000 shares of Exelixis stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $35.27, for a total transaction of $352,700.00. Following the completion of the sale, the executive vice president now directly owns 278,665 shares of the company’s stock, valued at approximately $9,828,514.55. The trade was a 3.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the transaction, the executive vice president now directly owns 486,059 shares in the company, valued at $17,823,783.53. This trade represents a 10.99 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,588 shares of company stock worth $3,981,864. Company insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Principal Securities Inc. lifted its stake in Exelixis by 62.8% during the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 373 shares during the last quarter. USA Financial Formulas acquired a new stake in Exelixis during the fourth quarter worth approximately $32,000. V Square Quantitative Management LLC purchased a new stake in shares of Exelixis during the 3rd quarter worth approximately $30,000. Kestra Investment Management LLC purchased a new stake in shares of Exelixis during the 4th quarter worth approximately $39,000. Finally, UMB Bank n.a. boosted its holdings in shares of Exelixis by 68.4% in the 4th quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 553 shares in the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

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.