Exelixis (NASDAQ:EXEL) Now Covered by Analysts at Brookline Capital Management

Equities researchers at Brookline Capital Management assumed coverage on shares of Exelixis (NASDAQ:EXEL) in a research report issued to clients and investors on Monday,Benzinga reports. The firm set a “buy” rating on the biotechnology company’s stock.

A number of other brokerages have also weighed in on EXEL. Stephens lifted their price target on shares of Exelixis from $23.00 to $29.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Bank of America cut shares of Exelixis from a “buy” rating to a “neutral” rating and upped their price target for the stock from $35.00 to $39.00 in a research report on Tuesday, December 17th. The Goldman Sachs Group raised Exelixis to a “strong sell” rating in a research report on Tuesday, October 15th. JMP Securities reaffirmed a “market outperform” rating and issued a $29.00 price objective on shares of Exelixis in a research report on Friday, October 11th. Finally, HC Wainwright restated a “buy” rating and issued a $29.00 target price on shares of Exelixis in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Exelixis currently has an average rating of “Moderate Buy” and an average price target of $32.44.

Exelixis Stock Down 1.2 %

EXEL stock opened at $33.29 on Monday. The stock has a market capitalization of $9.51 billion, a price-to-earnings ratio of 21.34, a price-to-earnings-growth ratio of 0.89 and a beta of 0.52. Exelixis has a 52-week low of $19.20 and a 52-week high of $36.97. The stock’s fifty day simple moving average is $33.51 and its 200-day simple moving average is $27.59.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The firm had revenue of $539.50 million for the quarter, compared to analyst estimates of $490.31 million. During the same period last year, the company earned $0.10 EPS. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, analysts anticipate that Exelixis will post 1.69 earnings per share for the current fiscal year.

Insider Transactions at Exelixis

In other news, EVP Jeffrey Hessekiel sold 60,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 486,059 shares of the company’s stock, valued at approximately $17,823,783.53. This represents a 10.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Patrick J. Haley sold 41,588 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.36, for a total value of $1,428,963.68. Following the completion of the sale, the executive vice president now directly owns 288,665 shares in the company, valued at approximately $9,918,529.40. This trade represents a 12.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 314,736 shares of company stock worth $10,849,110. 2.85% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Exelixis

Institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC increased its holdings in shares of Exelixis by 45.3% in the 2nd quarter. Hsbc Holdings PLC now owns 90,211 shares of the biotechnology company’s stock worth $2,031,000 after acquiring an additional 28,126 shares during the period. Farallon Capital Management LLC grew its position in Exelixis by 1.6% in the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock worth $608,993,000 after purchasing an additional 424,000 shares during the last quarter. Seizert Capital Partners LLC increased its stake in shares of Exelixis by 8.0% in the third quarter. Seizert Capital Partners LLC now owns 469,940 shares of the biotechnology company’s stock valued at $12,195,000 after purchasing an additional 34,875 shares during the period. Los Angeles Capital Management LLC raised its holdings in shares of Exelixis by 124.0% during 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 last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of Exelixis by 60.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 54,863 shares of the biotechnology company’s stock worth $1,424,000 after buying an additional 20,641 shares during the period. Institutional investors own 85.27% of the company’s stock.

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.