StockNews.com Lowers Exelixis (NASDAQ:EXEL) to Hold

Posted by Defense World Staff on Apr 6th, 2023

Exelixis (NASDAQ:EXEL – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

EXEL has been the subject of a number of other reports. Cowen cut their target price on Exelixis from $21.00 to $20.00 in a research note on Monday, January 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $32.00 target price on shares of Exelixis in a research note on Wednesday, February 8th. Credit Suisse Group began coverage on Exelixis in a research note on Thursday, January 26th. They issued an “outperform” rating and a $29.00 target price for the company. EF Hutton Acquisition Co. I reiterated a “buy” rating and set a $24.00 price target on shares of Exelixis in a report on Friday, March 3rd. Finally, JMP Securities lowered their price target on Exelixis from $25.00 to $24.00 and set a “market outperform” rating for the company in a report on Thursday, January 19th. Two analysts have 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 company has a consensus rating of “Moderate Buy” and an average price target of $26.00.

Exelixis Stock Performance

NASDAQ EXEL opened at $19.89 on Thursday. The business has a fifty day moving average price of $17.76 and a 200 day moving average price of $16.87. Exelixis has a one year low of $14.87 and a one year high of $23.29. The company has a market cap of $6.45 billion, a P/E ratio of 34.90, a P/E/G ratio of 0.80 and a beta of 0.68.

Exelixis (NASDAQ:EXEL – Get Rating) last posted its quarterly earnings data on Tuesday, February 7th. The biotechnology company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.04). Exelixis had a net margin of 11.31% and a return on equity of 7.54%. The firm had revenue of $423.92 million during the quarter, compared to analyst estimates of $418.71 million. During the same period in the prior year, the company posted $0.29 earnings per share. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, sell-side analysts predict that Exelixis will post 0.66 EPS for the current fiscal year.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Jeffrey Hessekiel sold 38,930 shares of the company’s stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $20.01, for a total value of $778,989.30. Following the sale, the executive vice president now owns 582,435 shares of the company’s stock, valued at $11,654,524.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Carl B. Feldbaum sold 40,000 shares of the company’s stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $17.78, for a total value of $711,200.00. Following the sale, the director now directly owns 18,701 shares in the company, valued at $332,503.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey Hessekiel sold 38,930 shares of the company’s stock in a transaction on Wednesday, April 5th. The shares were sold at an average price of $20.01, for a total value of $778,989.30. Following the completion of the sale, the executive vice president now owns 582,435 shares in the company, valued at $11,654,524.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 237,100 shares of company stock valued at $4,212,089. Insiders own 2.90% of the company’s stock.

Institutional Trading of Exelixis

Several institutional investors and hedge funds have recently made changes to their positions in EXEL. Signaturefd LLC lifted its position in shares of Exelixis by 400.7% in the third quarter. Signaturefd LLC now owns 2,148 shares of the biotechnology company’s stock valued at $34,000 after acquiring an additional 1,719 shares in the last quarter. Covestor Ltd lifted its position in shares of Exelixis by 245.6% in the first quarter. Covestor Ltd now owns 1,676 shares of the biotechnology company’s stock valued at $38,000 after acquiring an additional 1,191 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Exelixis by 129.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,697 shares of the biotechnology company’s stock valued at $43,000 after acquiring an additional 1,521 shares in the last quarter. Wipfli Financial Advisors LLC purchased a new stake in shares of Exelixis in the third quarter valued at $46,000. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in shares of Exelixis in the third quarter valued at $47,000. 84.74% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Company Profile

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Exelixis, Inc operates as an oncology company, which focuses on discovering, developing, and commercialization of new medicines for difficult-to-treat cancers. Its products include cabometyx, cometriq, and cotellic. The company was founded by Stelios Papadopoulos on November 15, 1994, and is headquartered in Alameda, CA.