Exelixis, Inc. (NASDAQ:EXEL) Given Average Rating of "Hold" by Analysts

Key Points

• Analysts have a consensus “Hold” rating on Exelixis, with 10 holds, eight buys and one sell among 19 analysts. The average 12-month price target is $49.29, below the stock’s reported opening price of $53.03.
• Exelixis reported quarterly EPS of $0.87, exceeding the $0.75 consensus estimate, while revenue of $610.81 million topped expectations and increased 10% year over year.
• Institutional investors own a substantial 85.27% of the company, while insiders have sold 219,170 shares worth approximately $10.6 million over the past three months.

Exelixis, Inc. (NASDAQ:EXEL - Get Free Report) has been assigned an average recommendation of "Hold" from the nineteen brokerages that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $49.2857.

EXEL has been the topic of several research reports. UBS Group restated a "buy" rating on shares of Exelixis in a report on Thursday, July 2nd. Truist Financial upped their price objective on shares of Exelixis from $54.00 to $56.00 and gave the stock a "hold" rating in a research note on Tuesday, July 7th. Citigroup reiterated a "market outperform" rating on shares of Exelixis in a report on Wednesday, July 22nd. Stifel Nicolaus raised their target price on shares of Exelixis from $44.00 to $47.00 and gave the company a "hold" rating in a research report on Wednesday, May 6th. Finally, TD Cowen boosted their price target on shares of Exelixis from $51.00 to $55.00 and gave the company a "buy" rating in a report on Wednesday, May 6th.

Insider Buying and Selling at Exelixis

In related news, EVP Dana Aftab sold 43,451 shares of the company's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $50.35, for a total transaction of $2,187,757.85. Following the completion of the sale, the executive vice president directly owned 594,741 shares in the company, valued at $29,945,209.35. This represents a 6.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jack L. Wyszomierski sold 3,925 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $50.55, for a total value of $198,408.75. Following the sale, the director directly owned 284,384 shares in the company, valued at approximately $14,375,611.20. The trade was a 1.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 219,170 shares of company stock worth $10,620,641. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of Exelixis

Several hedge funds have recently modified their holdings of EXEL. AQR Capital Management LLC boosted its holdings in shares of Exelixis by 48.8% in the 4th quarter. AQR Capital Management LLC now owns 13,658,388 shares of the biotechnology company's stock valued at $598,647,000 after buying an additional 4,477,029 shares in the last quarter. Invesco Ltd. raised its stake in shares of Exelixis by 1.6% during the 4th quarter. Invesco Ltd. now owns 6,054,743 shares of the biotechnology company's stock worth $265,379,000 after acquiring an additional 94,218 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Exelixis by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 4,299,597 shares of the biotechnology company's stock valued at $184,391,000 after acquiring an additional 39,920 shares during the last quarter. Morgan Stanley lifted its position in Exelixis by 31.0% during the fourth quarter. Morgan Stanley now owns 4,206,656 shares of the biotechnology company's stock valued at $184,378,000 after acquiring an additional 995,949 shares during the last quarter. Finally, UBS Group AG boosted its stake in Exelixis by 40.2% in the fourth quarter. UBS Group AG now owns 3,722,334 shares of the biotechnology company's stock valued at $163,150,000 after acquiring an additional 1,067,265 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Price Performance

Shares of EXEL opened at $53.03 on Monday. Exelixis has a 1-year low of $33.76 and a 1-year high of $57.57. The company has a 50-day moving average of $53.73 and a 200 day moving average of $47.61. The firm has a market capitalization of $13.33 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 1.53 and a beta of 0.44.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.12. The business had revenue of $610.81 million for the quarter, compared to the consensus estimate of $607.51 million. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The company's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 EPS. On average, equities analysts anticipate that Exelixis will post 3.15 earnings per share for the current fiscal year.

Exelixis Company Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis's translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company's most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.

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