Exelixis’ (EXEL) Buy Rating Reiterated at Guggenheim

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

Several other equities research analysts also recently weighed in on EXEL. Truist Financial increased their price objective on Exelixis from $38.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. JMP Securities increased their price target on shares of Exelixis from $34.00 to $41.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 15th. Royal Bank of Canada reissued an “outperform” rating and set a $34.00 price objective on shares of Exelixis in a research report on Wednesday, October 30th. The Goldman Sachs Group raised shares of Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. Finally, Brookline Capital Management initiated coverage on Exelixis in a research report on Monday, December 23rd. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Exelixis has an average rating of “Moderate Buy” and an average target price of $35.00.

Exelixis Price Performance

NASDAQ EXEL opened at $32.38 on Wednesday. The firm’s fifty day moving average price is $34.87 and its 200 day moving average price is $29.71. Exelixis has a 12 month low of $20.01 and a 12 month high of $37.59. The company has a market capitalization of $9.25 billion, a price-to-earnings ratio of 20.76, a price-to-earnings-growth ratio of 0.72 and a beta of 0.53.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The company had revenue of $539.50 million for the quarter, compared to analyst estimates of $490.31 million. During the same quarter last year, the company posted $0.10 earnings per share. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Exelixis will post 1.74 earnings per share for the current year.

Insider Activity at Exelixis

In related news, EVP Dana Aftab sold 1,162 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total value of $36,486.80. Following the completion of the transaction, the executive vice president now directly owns 498,945 shares of the company’s stock, valued at $15,666,873. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jeffrey Hessekiel sold 25,000 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $28.39, for a total value of $709,750.00. Following the sale, the executive vice president now owns 580,325 shares in the company, valued at approximately $16,475,426.75. The trade was a 4.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 314,736 shares of company stock worth $10,849,110 over the last 90 days. Company insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Several hedge funds have recently added to or reduced their stakes in the business. USA Financial Formulas acquired a new stake in shares of Exelixis in the fourth quarter valued at approximately $32,000. V Square Quantitative Management LLC purchased a new stake in Exelixis in the 3rd quarter valued at approximately $30,000. UMB Bank n.a. grew its holdings in Exelixis by 68.4% during 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 during the last quarter. Brooklyn Investment Group purchased a new position in Exelixis during the third quarter worth $42,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of Exelixis by 18.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,890 shares of the biotechnology company’s stock worth $63,000 after acquiring an additional 290 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

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.