Exelixis’ (EXEL) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Exelixis (NASDAQ:EXEL) in a research report released on Thursday morning,Benzinga reports. JMP Securities currently has a $41.00 price objective on the biotechnology company’s stock.

Other analysts have also recently issued research reports about the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $34.00 target price on shares of Exelixis in a report on Wednesday, October 30th. Brookline Capital Management began coverage on shares of Exelixis in a report on Monday, December 23rd. They issued a “buy” rating on the stock. HC Wainwright boosted their target price on shares of Exelixis from $29.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Oppenheimer raised their price target on Exelixis from $38.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Finally, Stephens upped their price objective on Exelixis from $23.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Exelixis has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

Exelixis Stock Down 5.1 %

NASDAQ:EXEL opened at $32.38 on Thursday. Exelixis has a 52 week low of $20.01 and a 52 week high of $37.59. The company has a fifty day simple moving average of $34.87 and a two-hundred day simple moving average of $29.77. The company has a market cap of $9.25 billion, a price-to-earnings ratio of 20.76, a price-to-earnings-growth ratio of 0.72 and a beta of 0.53.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. The firm had revenue of $539.50 million during the quarter, compared to analysts’ expectations of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. Exelixis’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 EPS. On average, analysts expect that Exelixis will post 1.74 EPS for the current year.

Insider Transactions at Exelixis

In other news, EVP Jeffrey Hessekiel sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $28.39, for a total transaction of $709,750.00. Following the completion of the sale, the executive vice president now owns 580,325 shares in the company, valued at $16,475,426.75. This represents a 4.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Dana Aftab sold 1,162 shares of Exelixis stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total transaction of $36,486.80. Following the completion of the transaction, the executive vice president now owns 498,945 shares in the company, valued at approximately $15,666,873. This trade represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 314,736 shares of company stock worth $10,849,110. Company insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in Exelixis in the 3rd quarter valued at approximately $30,000. USA Financial Formulas purchased a new stake in shares of Exelixis in the fourth quarter valued at approximately $32,000. Brooklyn Investment Group acquired a new position in Exelixis during the third quarter worth $42,000. UMB Bank n.a. raised its position in Exelixis by 68.4% in the fourth quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 553 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in Exelixis in the third quarter valued at $61,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

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.