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

Exelixis (NASDAQ:EXEL)‘s stock had its “market outperform” rating reissued by stock analysts at JMP Securities in a research note issued to investors on Thursday,Benzinga reports. They currently have a $41.00 target price on the biotechnology company’s stock. JMP Securities’ price objective would indicate a potential upside of 25.33% from the company’s previous close.

Several other equities analysts have also issued reports on the company. Oppenheimer boosted their price target on Exelixis from $38.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. BMO Capital Markets lowered Exelixis from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $36.00 to $40.00 in a research note on Friday, December 20th. Royal Bank of Canada restated an “outperform” rating and set a $34.00 price target on shares of Exelixis in a research note on Wednesday, October 30th. Bank of America lowered Exelixis from a “buy” rating to a “neutral” rating and boosted their price target for the company from $35.00 to $39.00 in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company upped their price objective on Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.50.

Exelixis Stock Down 0.5 %

Shares of NASDAQ:EXEL traded down $0.17 on Thursday, reaching $32.71. The company had a trading volume of 125,051 shares, compared to its average volume of 2,518,270. Exelixis has a twelve month low of $20.01 and a twelve month high of $37.59. The stock has a 50-day moving average price of $34.93 and a 200 day moving average price of $29.61. The stock has a market capitalization of $9.34 billion, a P/E ratio of 20.87, a P/E/G ratio of 0.80 and a beta of 0.53.

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

Insiders Place Their Bets

In other news, EVP Jeffrey Hessekiel sold 60,000 shares of Exelixis stock in a transaction on Friday, November 29th. The shares were sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the transaction, the executive vice president now owns 486,059 shares in the company, valued at approximately $17,823,783.53. The trade was a 10.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dana Aftab sold 96,986 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $35.00, for a total transaction of $3,394,510.00. Following the completion of the transaction, the executive vice president now owns 498,945 shares in the company, valued at approximately $17,463,075. The trade was a 16.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 314,736 shares of company stock valued at $10,849,110. 2.85% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Exelixis

Several hedge funds and other institutional investors have recently bought and sold shares of EXEL. Los Angeles Capital Management LLC lifted its holdings in Exelixis by 124.0% in 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 period. Caisse DE Depot ET Placement DU Quebec acquired a new position in Exelixis in the third quarter valued at $14,979,000. AQR Capital Management LLC raised its holdings in shares of Exelixis by 12.7% during the second quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock valued at $73,425,000 after purchasing an additional 370,199 shares during the period. Burney Co. bought a new position in shares of Exelixis during the 4th quarter worth about $12,267,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Exelixis by 263.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 483,064 shares of the biotechnology company’s stock worth $12,536,000 after purchasing an additional 350,026 shares in the last quarter. Institutional investors and hedge funds 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.