Exelixis’ (EXEL) Outperform Rating Reaffirmed at William Blair

William Blair reissued their outperform rating on shares of Exelixis (NASDAQ:EXEL) in a research note published on Wednesday, RTT News reports.

A number of other equities research analysts have also recently commented on the stock. Royal Bank of Canada raised their target price on shares of Exelixis from $26.00 to $28.00 and gave the stock an outperform rating in a research note on Wednesday, February 7th. Stifel Nicolaus increased their price target on Exelixis from $23.00 to $25.00 and gave the stock a hold rating in a research note on Friday, February 2nd. Barclays lowered Exelixis from an overweight rating to an equal weight rating and set a $25.00 price objective for the company. in a research note on Thursday, April 11th. JMP Securities reissued a market outperform rating and issued a $27.00 price target on shares of Exelixis in a report on Wednesday, April 10th. Finally, TheStreet raised shares of Exelixis from a c+ rating to a b- rating in a report on Monday, March 18th. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $26.33.

Exelixis Stock Down 6.5 %

NASDAQ EXEL opened at $21.93 on Wednesday. Exelixis has a 52 week low of $18.52 and a 52 week high of $24.34. The firm has a market capitalization of $6.46 billion, a P/E ratio of 34.26, a PEG ratio of 0.61 and a beta of 0.57. The company has a 50-day moving average price of $22.92 and a 200-day moving average price of $22.22.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.16). Exelixis had a return on equity of 8.62% and a net margin of 11.10%. The company had revenue of $425.23 million during the quarter, compared to the consensus estimate of $461.04 million. During the same period in the prior year, the business posted $0.12 earnings per share. Exelixis’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Exelixis will post 1.23 EPS for the current year.

Insider Transactions at Exelixis

In related news, Director Alan M. Garber sold 19,205 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $24.01, for a total value of $461,112.05. Following the transaction, the director now owns 35,703 shares of the company’s stock, valued at approximately $857,229.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Exelixis news, EVP Patrick J. Haley sold 47,020 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $21.45, for a total value of $1,008,579.00. Following the completion of the sale, the executive vice president now directly owns 384,866 shares in the company, valued at approximately $8,255,375.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alan M. Garber sold 19,205 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $24.01, for a total value of $461,112.05. Following the transaction, the director now owns 35,703 shares in the company, valued at approximately $857,229.03. The disclosure for this sale can be found here. Corporate insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC lifted its position in shares of Exelixis by 4.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 120,479 shares of the biotechnology company’s stock worth $2,632,000 after purchasing an additional 4,639 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in Exelixis by 432.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 22,853 shares of the biotechnology company’s stock valued at $499,000 after acquiring an additional 18,560 shares in the last quarter. New York State Teachers Retirement System increased its holdings in shares of Exelixis by 2.7% in the 3rd quarter. New York State Teachers Retirement System now owns 410,760 shares of the biotechnology company’s stock valued at $8,975,000 after acquiring an additional 10,719 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Exelixis by 6.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,246 shares of the biotechnology company’s stock worth $1,207,000 after acquiring an additional 3,241 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of Exelixis by 13.2% during the 3rd quarter. Mackenzie Financial Corp now owns 216,586 shares of the biotechnology company’s stock worth $4,739,000 after purchasing an additional 25,293 shares during the last quarter. 85.27% of the stock is currently 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.