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Exelixis, Inc. (NASDAQ:EXEL) Receives Average Rating of "Moderate Buy" from Brokerages

Exelixis logo with Medical background

Shares of Exelixis, Inc. (NASDAQ:EXEL - Get Free Report) have earned an average rating of "Moderate Buy" from the twenty-one ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $45.33.

Several research analysts have issued reports on the company. Stephens upgraded Exelixis from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $29.00 to $60.00 in a research note on Tuesday, June 24th. Stifel Nicolaus increased their price objective on Exelixis from $36.00 to $38.00 and gave the stock a "hold" rating in a research note on Wednesday, May 14th. HC Wainwright increased their price objective on Exelixis from $47.00 to $53.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Benchmark reiterated a "neutral" rating on shares of Exelixis in a research note on Monday, June 23rd. Finally, Morgan Stanley increased their target price on Exelixis from $47.00 to $48.00 and gave the stock an "overweight" rating in a report on Tuesday.

Check Out Our Latest Research Report on Exelixis

Insider Activity at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 34,387 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $44.06, for a total transaction of $1,515,091.22. Following the transaction, the executive vice president owned 412,072 shares of the company's stock, valued at $18,155,892.32. The trade was a 7.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Amy C. Peterson sold 72,776 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $45.47, for a total value of $3,309,124.72. Following the transaction, the chief marketing officer directly owned 465,393 shares in the company, valued at $21,161,419.71. This trade represents a 13.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 458,113 shares of company stock valued at $21,024,817 over the last 90 days. Insiders own 2.82% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Truist Financial Corp lifted its position in shares of Exelixis by 1.1% during the 2nd quarter. Truist Financial Corp now owns 22,292 shares of the biotechnology company's stock valued at $983,000 after acquiring an additional 250 shares during the period. Frank Rimerman Advisors LLC grew its position in shares of Exelixis by 4.7% in the 1st quarter. Frank Rimerman Advisors LLC now owns 6,342 shares of the biotechnology company's stock valued at $234,000 after buying an additional 285 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Exelixis by 6.1% in the 1st quarter. Farther Finance Advisors LLC now owns 5,372 shares of the biotechnology company's stock valued at $195,000 after buying an additional 307 shares during the last quarter. Balyasny Asset Management L.P. grew its position in shares of Exelixis by 1.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 17,203 shares of the biotechnology company's stock valued at $573,000 after buying an additional 317 shares during the last quarter. Finally, Rathbones Group PLC boosted its position in shares of Exelixis by 5.3% during the 1st quarter. Rathbones Group PLC now owns 6,847 shares of the biotechnology company's stock valued at $253,000 after purchasing an additional 347 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

Exelixis Stock Down 1.3%

Exelixis stock traded down $0.61 during mid-day trading on Thursday, hitting $44.79. 2,188,526 shares of the company were exchanged, compared to its average volume of 2,601,056. The business has a fifty day moving average of $43.46 and a 200 day moving average of $38.71. Exelixis has a 1-year low of $22.36 and a 1-year high of $49.62. The company has a market capitalization of $12.21 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 0.91 and a beta of 0.28.

About Exelixis

(Get Free Report

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.

Further Reading

Analyst Recommendations for Exelixis (NASDAQ:EXEL)

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