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

JMP Securities restated their market outperform rating on shares of Exelixis (NASDAQ:EXEL) in a report issued on Thursday morning,Benzinga reports. They currently have a $41.00 price objective on the biotechnology company’s stock.

A number of other brokerages have also weighed in on EXEL. Stephens raised their price objective on Exelixis from $23.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Stifel Nicolaus raised their price target on shares of Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $34.00 price objective on shares of Exelixis in a report on Wednesday, October 30th. TD Cowen raised their target price on shares of Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, BMO Capital Markets lowered shares of Exelixis from an “outperform” rating to a “market perform” rating and upped their price target for the company from $36.00 to $40.00 in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Exelixis presently has a consensus rating of “Moderate Buy” and an average target price of $35.00.

Exelixis Stock Down 5.1 %

Shares of Exelixis stock opened at $32.38 on Thursday. The firm has a market capitalization of $9.25 billion, a P/E ratio of 20.76, a PEG ratio of 0.72 and a beta of 0.53. Exelixis has a 52 week low of $20.01 and a 52 week high of $37.59. The company has a 50 day moving average price of $34.87 and a 200 day moving average price of $29.77.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, topping 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 business had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. During the same period in the previous year, the firm posted $0.10 earnings per share. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, research analysts anticipate that Exelixis will post 1.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Exelixis

In other Exelixis news, Director George Poste sold 30,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $34.00, for a total transaction of $1,020,000.00. Following the completion of the sale, the director now owns 169,020 shares of the company’s stock, valued at $5,746,680. This trade represents a 15.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the company’s 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 approximately $17,823,783.53. This trade represents a 10.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 314,736 shares of company stock worth $10,849,110 in the last ninety days. 2.85% of the stock is owned by insiders.

Institutional Trading of Exelixis

Several institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its stake 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 worth $73,425,000 after buying an additional 370,199 shares during the period. FMR LLC boosted its position in shares of Exelixis by 6.1% during the 3rd quarter. FMR LLC now owns 2,462,072 shares of the biotechnology company’s stock worth $63,891,000 after purchasing an additional 140,568 shares during the period. Los Angeles Capital Management LLC increased its holdings in Exelixis by 124.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock valued at $46,473,000 after purchasing an additional 991,494 shares during the last quarter. Two Sigma Advisers LP raised its position in Exelixis by 6.1% in the third quarter. Two Sigma Advisers LP now owns 1,702,590 shares of the biotechnology company’s stock valued at $44,182,000 after purchasing an additional 98,000 shares during the period. Finally, Systematic Financial Management LP lifted its stake in Exelixis by 7.1% during the third quarter. Systematic Financial Management LP now owns 1,168,391 shares of the biotechnology company’s stock worth $30,320,000 after purchasing an additional 77,599 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other 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.