Exelixis, Inc., an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. The company's products include 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 patients with progressive and metastatic medullary thyroid cancer. Its CABOMETYX and COMETRIQ are derived from cabozantinib, an inhibitor of multiple tyrosine kinases, including MET, AXL, RET, and VEGF receptors. The company also offers COTELLIC, an inhibitor of MEK as a combination regimen to treat advanced melanoma; and MINNEBRO, an oral non-steroidal selective blocker of the mineralocorticoid receptor for the treatment of hypertension in Japan. In addition, it is developing XL092, an oral tyrosine kinase inhibitor that targets VEGF receptors, MET, AXL, MER, and other kinases implicated in growth and spread of cancer; XB002, an antibody-drug conjugate composed of human mAb against tissue factor (TF) for the treatment of advanced solid tumors; XL102, an orally bioavailable cyclin-dependent kinase 7 (CDK7) inhibitor for the treatment of advanced or metastatic solid tumors; and XB002 for the treatment of non-hodgkin's lymphoma. Exelixis, Inc. has research collaborations and license agreements with Ipsen Pharma SAS; Takeda Pharmaceutical Company Ltd.; F. Hoffmann-La Roche Ltd.; Redwood Bioscience, Inc.; R.P. Scherer Technologies, LLC; Catalent Pharma Solutions, Inc.; NBE Therapeutics AG; Aurigene Discovery Technologies Limited; Iconic Therapeutics, Inc.; Invenra, Inc.; StemSynergy Therapeutics, Inc.; Genentech, Inc.; Bristol-Myers Squibb Company; and Daiichi Sankyo Company, Limited. The company was formerly known as Exelixis Pharmaceuticals, Inc. and changed its name to Exelixis, Inc. in February 2000. Exelixis, Inc. was incorporated in 1994 and is headquartered in Alameda, California.
Exelixis Stock Up 0.4 %
EXEL Stock opened at $21.52 on Friday. Exelixis has a 12-month low of $15.50 and a 12-month high of $23.40. The company has a market cap of $6.90 billion, a price-to-earnings ratio of 23.39, a PEG ratio of 0.63 and a beta of 0.60. The company has a 50 day moving average of $20.39 and a two-hundred day moving average of $20.48.
Exelixis (NASDAQ:EXEL - Get Rating) last released its earnings results on Tuesday, May 10th. The biotechnology company reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.07. The company had revenue of $356.00 million during the quarter, compared to the consensus estimate of $363.22 million. Exelixis had a net margin of 19.60% and a return on equity of 13.77%. The company's revenue was up 31.7% on a year-over-year basis. On average, research analysts anticipate that Exelixis will post 0.94 EPS for the current year.
Analyst Ratings Changes
A number of analysts recently weighed in on EXEL shares. Piper Sandler raised their target price on shares of Exelixis from $30.00 to $32.00 and gave the stock an "overweight" rating in a report on Tuesday, July 26th. Jefferies Financial Group began coverage on shares of Exelixis in a research note on Thursday, May 12th. They issued a "buy" rating and a $28.00 price objective for the company. BMO Capital Markets began coverage on shares of Exelixis in a research note on Thursday, June 23rd. They issued an "outperform" rating and a $28.00 price objective for the company. StockNews.com lowered shares of Exelixis from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, May 18th. Finally, Morgan Stanley raised their price objective on shares of Exelixis from $22.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Friday, July 15th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.13.
Insider Activity
In other news, EVP Patrick J. Haley sold 18,812 shares of the firm's stock in a transaction on Friday, May 27th. The shares were sold at an average price of $18.21, for a total transaction of $342,566.52. Following the transaction, the executive vice president now owns 239,818 shares in the company, valued at approximately $4,367,085.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Lance Willsey sold 40,000 shares of Exelixis stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $19.65, for a total value of $786,000.00. Following the transaction, the director now owns 424,415 shares in the company, valued at approximately $8,339,754.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Patrick J. Haley sold 18,812 shares of Exelixis stock in a transaction on Friday, May 27th. The stock was sold at an average price of $18.21, for a total transaction of $342,566.52. Following the completion of the transaction, the executive vice president now owns 239,818 shares in the company, valued at approximately $4,367,085.78. The disclosure for this sale can be found here. 2.90% of the stock is owned by insiders.
