JMP Securities Reiterates "Market Outperform" Rating for Exelixis (NASDAQ:EXEL)

Exelixis (NASDAQ:EXEL - Get Free Report)'s stock had its "market outperform" rating restated by equities research analysts at JMP Securities in a report issued on Thursday,Benzinga reports. They presently have a $41.00 price objective on the biotechnology company's stock. JMP Securities' price target indicates a potential upside of 13.40% from the company's current price.

Other equities research analysts have also issued research reports about the company. Piper Sandler lifted their target price on Exelixis from $37.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Barclays raised their target price on shares of Exelixis from $25.00 to $29.00 and gave the company an "equal weight" rating in a research report on Thursday, February 13th. Truist Financial raised their price objective on Exelixis from $42.00 to $43.00 and gave the company a "buy" rating in a report on Monday, January 27th. Morgan Stanley raised Exelixis from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $30.00 to $40.00 in a research report on Monday, January 27th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $40.00 price target on shares of Exelixis in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $37.59.

Exelixis Price Performance

EXEL traded up $0.57 during trading on Thursday, reaching $36.16. The company had a trading volume of 592,844 shares, compared to its average volume of 2,168,330. The business's fifty day moving average price is $36.49 and its 200 day moving average price is $34.42. Exelixis has a 12 month low of $20.14 and a 12 month high of $40.02. The company has a market cap of $10.12 billion, a P/E ratio of 20.43, a PEG ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. As a group, sell-side analysts predict that Exelixis will post 2.04 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Christopher J. Senner sold 29,314 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $36.14, for a total transaction of $1,059,407.96. Following the transaction, the chief financial officer now directly owns 779,607 shares of the company's stock, valued at approximately $28,174,996.98. This trade represents a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Patrick J. Haley sold 52,636 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $36.98, for a total value of $1,946,479.28. Following the completion of the sale, the executive vice president now owns 303,310 shares of the company's stock, valued at approximately $11,216,403.80. This trade represents a 14.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 140,343 shares of company stock valued at $5,177,234. Insiders own 2.85% of the company's stock.

Institutional Trading of Exelixis

Large investors have recently modified their holdings of the stock. Coppell Advisory Solutions LLC bought a new stake in Exelixis during the fourth quarter worth about $25,000. Colonial Trust Co SC lifted its holdings in shares of Exelixis by 616.9% during the 4th quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock worth $30,000 after acquiring an additional 765 shares during the period. USA Financial Formulas bought a new stake in shares of Exelixis during the 4th quarter worth approximately $32,000. Principal Securities Inc. boosted its position in shares of Exelixis by 62.8% during the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company's stock worth $32,000 after acquiring an additional 373 shares in the last quarter. Finally, Kestra Investment Management LLC bought a new position in Exelixis in the fourth quarter valued at approximately $39,000. 85.27% of the stock is owned by institutional investors and hedge funds.

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.