Exelixis, Inc. (NASDAQ:EXEL – get rating) has received an average “Moderate Buy” recommendation from the twelve research firms that are currently covering the stock, MercadoBeat.com reports. One stock research analyst rated the stock with a hold recommendation and eight gave the company a buy recommendation. The average 1-year target price among brokers who have updated their hedge on the stock in the last year is $27.70.
Several research analysts recently issued reports on the stock. Piper Sandler increased the price target on Exelixis shares from $30.00 to $32.00 and gave the company an “overweight” rating in a research report dated Tuesday, July 26. Cowen lowered the price target on Exelixis shares from $26.00 to $21.00 in a research note on Wednesday, November 2. Morgan Stanley lowered the price target on Exelixis shares from $23.00 to $22.00 and set an “equal weight” rating on the company in a research note on Wednesday, November 2. JMP Securities assumed coverage of Exelixis shares in a research report on Tuesday, October 18. They set an “outperform” rating and a $26.00 price target for the company. Finally, Cowen lowered the price target on Exelixis shares from $26.00 to $21.00 in a research report on Wednesday, November 2.
Internal activity in Exelixis
In related news, EVP Patrick J. Haley sold 40,000 shares of the firm in a transaction that occurred on Monday, September 12. The shares were sold at an average price of $17.94, for a total value of $717,600.00. Following the sale, the executive vice president now directly owns 261,591 shares of the company, valued at $4,692,942.54. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which is available at the SEC website. Currently, 2.90% of the shares are owned by insiders.
Institutional entrances and exits
Institutional investors and hedge funds have recently bought and sold shares of the company. Deutsche Bank AG increased its holdings in Exelixis by 439.6% in the second quarter. Deutsche Bank AG now owns 3,518,722 shares of the biotech company valued at $73,260,000 after acquiring an additional 2,866,622 shares in the last quarter. Prudential Financial Inc. increased its position in Exelixis shares by 368.9% in the second quarter. Prudential Financial Inc. now owns 2,498,377 shares of the biotech company worth $52,015,000 after buying an additional 1,965,534 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in Exelixis stock in the third quarter worth approximately $27,393,000. Assenagon Asset Management SA increased its position in Exelixis shares by 920.3% in the 2nd quarter. Assenagon Asset Management SA now owns 1,872,670 shares of the biotech company’s capital stock worth $38,989,000 after purchasing an additional 1,689,126 shares during the last quarter. Finally, Farallon Capital Management LLC increased its stake in Exelixis by 18.7% in the first quarter. Farallon Capital Management LLC now owns 10,520,061 shares of the biotech company worth $238,490,000 after purchasing an additional 1,660,904 shares in the last quarter. Currently, 85.25% of the shares are owned by institutional investors.
Return on Exelixis shares
Actions of EXEL NASDAQ opened at $16.35 on Tuesday. The company has a market capitalization of $5.27 billion, a P/E ratio of 17.21, a price/earnings growth ratio of 0.56, and a beta of 0.70. Exelixis has a 52-week minimum of $14.87 and a 52-week maximum of $23.40. The company’s 50-day moving average price is $16.63 and its 200-day moving average price is $18.99.
exélixis (NASDAQ:EXEL – get rating) last published its quarterly earnings results on Tuesday, August 9. The biotech company reported earnings per share (EPS) of $0.22 for the quarter, beating analyst consensus estimates of $0.20 by $0.02. Exelixis had a net margin of 18.78% and a return on capital of 13.11%. The company had revenue of $419.43 million for the quarter, compared to the consensus estimate of $391.09 million. Analysts forecast that Exelixis will post 0.59 earnings per share for the current year.
Exelixis, Inc, an oncology-focused biotechnology company, is focused on the discovery, development, and commercialization of new drugs to treat cancer in the United States. The company’s products include CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who have received prior antiangiogenic therapy; and COMETRIQ capsules for the treatment of patients with progressive and metastatic medullary thyroid cancer.
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