Exelixis (NASDAQ:EXEL) Rating Reiterated by JMP Securities

Exelixis (NASDAQ:EXEL)‘s stock had its “market outperform” rating reiterated by JMP Securities in a note issued to investors on Wednesday, Benzinga reports. They currently have a $27.00 target price on the biotechnology company’s stock. JMP Securities’ target price indicates a potential upside of 14.55% from the stock’s current price.

Several other research analysts also recently commented on EXEL. Stifel Nicolaus boosted their target price on Exelixis from $23.00 to $25.00 and gave the stock a “hold” rating in a report on Friday, February 2nd. Barclays boosted their target price on Exelixis from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. Royal Bank of Canada boosted their target price on Exelixis from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Citigroup assumed coverage on Exelixis in a report on Friday, December 15th. They set a “buy” rating and a $31.00 price objective on the stock. Finally, TheStreet raised Exelixis from a “c+” rating to a “b-” rating in a report on Monday, March 18th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.29.

Exelixis Stock Performance

NASDAQ EXEL traded down $0.15 during trading on Wednesday, reaching $23.57. 318,973 shares of the company traded hands, compared to its average volume of 2,288,612. The stock’s 50 day moving average price is $22.22 and its two-hundred day moving average price is $22.09. The company has a market cap of $7.15 billion, a price-to-earnings ratio of 36.83, a P/E/G ratio of 0.62 and a beta of 0.54. Exelixis has a 1-year low of $18.08 and a 1-year high of $24.34.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, February 6th. The biotechnology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.25 by $0.02. The business had revenue of $479.65 million for the quarter, compared to the consensus estimate of $481.23 million. Exelixis had a return on equity of 8.57% and a net margin of 11.35%. Equities research analysts expect that Exelixis will post 1.22 EPS for the current fiscal year.

Insider Buying and Selling at Exelixis

In other Exelixis news, Director David Edward Johnson bought 190,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was bought at an average price of $20.70 per share, for a total transaction of $3,933,000.00. Following the transaction, the director now owns 1,100,730 shares of the company’s stock, valued at approximately $22,785,111. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Patrick J. Haley sold 47,020 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $21.45, for a total value of $1,008,579.00. Following the completion of the sale, the executive vice president now owns 384,866 shares in the company, valued at approximately $8,255,375.70. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director David Edward Johnson acquired 190,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was purchased at an average price of $20.70 per share, with a total value of $3,933,000.00. Following the transaction, the director now owns 1,100,730 shares in the company, valued at $22,785,111. The disclosure for this purchase can be found here. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Exelixis

A number of large investors have recently made changes to their positions in EXEL. Natixis Advisors L.P. acquired a new position in Exelixis in the 1st quarter worth $325,000. BlackRock Inc. boosted its stake in Exelixis by 1.9% in the 1st quarter. BlackRock Inc. now owns 32,884,561 shares of the biotechnology company’s stock worth $745,493,000 after purchasing an additional 607,183 shares during the period. Great West Life Assurance Co. Can boosted its stake in Exelixis by 7.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 171,286 shares of the biotechnology company’s stock worth $3,990,000 after purchasing an additional 11,941 shares during the period. Yousif Capital Management LLC boosted its stake in Exelixis by 1.2% in the 1st quarter. Yousif Capital Management LLC now owns 166,497 shares of the biotechnology company’s stock worth $3,774,000 after purchasing an additional 1,931 shares during the period. Finally, LSV Asset Management acquired a new position in Exelixis in the 1st quarter worth $12,872,000. 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.