Exelixis (NASDAQ:EXEL) Trading 6.4% Higher - Should You Buy?

Exelixis, Inc. (NASDAQ:EXEL - Get Free Report)'s share price was up 6.4% on Thursday . The company traded as high as $48.42 and last traded at $47.11. Approximately 2,537,644 shares were traded during mid-day trading, an increase of 3% from the average daily volume of 2,472,466 shares. The stock had previously closed at $44.30.

Analyst Ratings Changes

A number of brokerages have issued reports on EXEL. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $40.00 price target on shares of Exelixis in a report on Wednesday, May 14th. JMP Securities raised their target price on Exelixis from $47.00 to $50.00 and gave the stock a "market outperform" rating in a research report on Monday, June 23rd. Wall Street Zen downgraded Exelixis from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 15th. 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. Finally, HC Wainwright boosted their price objective on shares of Exelixis from $47.00 to $53.00 and gave the stock a "buy" rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $43.56.

Exelixis Stock Performance

The company has a 50-day moving average of $41.54 and a 200-day moving average of $37.51. The stock has a market cap of $12.52 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 0.88 and a beta of 0.28.

Insider Buying and Selling at Exelixis

In related news, Director Jack L. Wyszomierski sold 7,535 shares of Exelixis stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $43.09, for a total value of $324,683.15. Following the transaction, the director directly owned 358,882 shares in the company, valued at $15,464,225.38. This trade represents a 2.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Amy C. Peterson sold 72,776 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $45.47, for a total transaction of $3,309,124.72. Following the completion of the sale, the chief marketing officer owned 465,393 shares of the company's stock, 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. Over the last three months, insiders have sold 458,113 shares of company stock valued at $21,024,817. Corporate insiders own 2.82% of the company's stock.

Institutional Investors Weigh In On Exelixis

A number of institutional investors have recently added to or reduced their stakes in EXEL. Coppell Advisory Solutions LLC acquired a new stake in shares of Exelixis in the 4th quarter valued at approximately $25,000. Hemington Wealth Management raised its position in Exelixis by 211.3% in the first quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company's stock worth $28,000 after acquiring an additional 522 shares in the last quarter. Colonial Trust Co SC lifted its holdings in Exelixis by 616.9% in the fourth quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock valued at $30,000 after acquiring an additional 765 shares during the period. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of Exelixis during the 1st quarter worth $37,000. Finally, Costello Asset Management INC acquired a new position in shares of Exelixis during the 1st quarter worth $39,000. Hedge funds and other 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.

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