Exelixis' (EXEL) "Sector Perform" Rating Reaffirmed at Royal Bank Of Canada

Exelixis (NASDAQ:EXEL - Get Free Report)'s stock had its "sector perform" rating reissued by research analysts at Royal Bank Of Canada in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. They presently have a $50.00 target price on the biotechnology company's stock, up from their prior target price of $45.00. Royal Bank Of Canada's price objective would indicate a potential upside of 14.92% from the company's previous close.

A number of other equities research analysts have also recently issued reports on the stock. Jefferies Financial Group set a $50.00 price objective on shares of Exelixis and gave the stock a "buy" rating in a report on Tuesday, June 24th. HC Wainwright increased their price objective on Exelixis from $47.00 to $53.00 and gave the company a "buy" rating in a report on Monday, June 30th. Wells Fargo & Company restated a "market outperform" rating on shares of Exelixis in a report on Thursday, April 17th. Wall Street Zen downgraded Exelixis from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 15th. Finally, JMP Securities boosted their price objective on shares of Exelixis from $47.00 to $50.00 and gave the stock a "market outperform" rating in a research note on Monday, June 23rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Exelixis has a consensus rating of "Moderate Buy" and a consensus target price of $44.11.

Exelixis Stock Performance

Shares of NASDAQ EXEL traded down $0.65 during mid-day trading on Tuesday, reaching $43.51. The company had a trading volume of 2,780,821 shares, compared to its average volume of 2,510,303. The stock has a market capitalization of $11.87 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 0.93 and a beta of 0.28. The stock's 50 day moving average is $41.99 and its 200-day moving average is $37.79. Exelixis has a twelve month low of $21.86 and a twelve month high of $49.62.

Insider Buying and Selling at Exelixis

In other news, Director Tomas J. Heyman sold 4,544 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $44.29, for a total value of $201,253.76. Following the completion of the transaction, the director directly owned 32,470 shares of the company's stock, valued at $1,438,096.30. This trade represents a 12.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack L. Wyszomierski sold 7,535 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $43.09, for a total transaction of $324,683.15. Following the transaction, the director directly owned 358,882 shares of the company's stock, valued at approximately $15,464,225.38. This trade represents a 2.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 458,113 shares of company stock valued at $21,024,817 in the last ninety days. 2.85% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Range Financial Group LLC grew its position in Exelixis by 13.3% during the second quarter. Range Financial Group LLC now owns 39,866 shares of the biotechnology company's stock valued at $1,757,000 after buying an additional 4,694 shares during the period. OMNI 360 Wealth Inc. bought a new position in shares of Exelixis during the second quarter worth $232,000. Voya Investment Management LLC increased its holdings in shares of Exelixis by 21.0% in the first quarter. Voya Investment Management LLC now owns 327,296 shares of the biotechnology company's stock worth $12,084,000 after purchasing an additional 56,708 shares during the last quarter. Modern Wealth Management LLC purchased a new stake in shares of Exelixis during the 1st quarter worth approximately $251,000. Finally, Strs Ohio purchased a new position in shares of Exelixis in the 1st quarter worth $2,267,000. Institutional investors own 85.27% of the company's stock.

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.