Exelixis (NASDAQ:EXEL) Given Buy Rating at Guggenheim

Guggenheim reaffirmed their buy rating on shares of Exelixis (NASDAQ:EXEL) in a report released on Wednesday,Benzinga reports.

Other equities research analysts have also recently issued reports about the stock. Stephens increased their price objective on shares of Exelixis from $23.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. HC Wainwright lifted their target price on Exelixis from $29.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 10th. TD Cowen increased their price target on Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Truist Financial lifted their price objective on shares of Exelixis from $38.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Finally, The Goldman Sachs Group upgraded shares of Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.50.

Exelixis Trading Down 9.7 %

NASDAQ:EXEL opened at $32.88 on Wednesday. The stock’s 50-day moving average is $34.93 and its 200-day moving average is $29.61. Exelixis has a 1-year low of $20.01 and a 1-year high of $37.59. The stock has a market cap of $9.39 billion, a P/E ratio of 21.08, a price-to-earnings-growth ratio of 0.81 and a beta of 0.53.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The firm had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. During the same quarter last year, the firm earned $0.10 earnings per share. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, equities analysts forecast that Exelixis will post 1.72 EPS for the current year.

Insider Transactions at Exelixis

In related news, EVP Dana Aftab sold 1,162 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total transaction of $36,486.80. Following the completion of the transaction, the executive vice president now owns 498,945 shares in the company, valued at approximately $15,666,873. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the sale, the executive vice president now owns 486,059 shares of the company’s stock, 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. Insiders sold a total of 314,736 shares of company stock worth $10,849,110 in the last quarter. 2.85% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Los Angeles Capital Management LLC raised its stake in shares of Exelixis by 124.0% in the third quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock valued at $46,473,000 after buying an additional 991,494 shares during the period. Caisse DE Depot ET Placement DU Quebec bought a new stake in Exelixis in the 3rd quarter valued at about $14,979,000. AQR Capital Management LLC lifted its holdings in Exelixis by 12.7% during the second quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock valued at $73,425,000 after purchasing an additional 370,199 shares during the last quarter. Burney Co. purchased a new position in shares of Exelixis in the fourth quarter worth about $12,267,000. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of Exelixis by 263.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 483,064 shares of the biotechnology company’s stock valued at $12,536,000 after purchasing an additional 350,026 shares during the period. 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.