Exelixis (NASDAQ:EXEL) Reaches New 12-Month High – Here’s What Happened

Shares of Exelixis, Inc. (NASDAQ:EXEL) reached a new 52-week high during trading on Monday . The company traded as high as $36.69 and last traded at $36.69, with a volume of 1061601 shares trading hands. The stock had previously closed at $35.61.

Wall Street Analyst Weigh In

EXEL has been the topic of several research analyst reports. The Goldman Sachs Group raised shares of Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. Truist Financial upped their price objective on Exelixis from $33.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Guggenheim raised their price objective on Exelixis from $32.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. TD Cowen boosted their target price on Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, BMO Capital Markets lifted their price target on shares of Exelixis from $29.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.44.

Exelixis Stock Performance

The company has a market capitalization of $10.39 billion, a PE ratio of 23.32, a PEG ratio of 0.90 and a beta of 0.51. The business’s 50-day moving average is $30.08 and its 200-day moving average is $25.73.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The firm had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.10 earnings per share. Analysts expect that Exelixis, Inc. will post 1.69 EPS for the current year.

Insider Activity

In other Exelixis news, EVP Patrick J. Haley sold 41,588 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.36, for a total transaction of $1,428,963.68. Following the completion of the transaction, the executive vice president now owns 288,665 shares of the company’s stock, valued at $9,918,529.40. This represents a 12.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dana Aftab sold 1,162 shares of Exelixis stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total value of $36,486.80. Following the completion of the sale, the executive vice president now directly owns 498,945 shares in the company, valued at approximately $15,666,873. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 269,736 shares of company stock valued at $8,955,710 in the last 90 days. Company insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

A number of large investors have recently made changes to their positions in EXEL. EntryPoint Capital LLC grew its stake in shares of Exelixis by 537.2% during the first quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock valued at $49,000 after buying an additional 1,746 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of Exelixis by 35.6% during the first quarter. Advisors Asset Management Inc. now owns 21,014 shares of the biotechnology company’s stock worth $499,000 after purchasing an additional 5,513 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of Exelixis by 26.6% during the first quarter. Lazard Asset Management LLC now owns 37,555 shares of the biotechnology company’s stock valued at $890,000 after purchasing an additional 7,891 shares during the period. Redwood Investment Management LLC grew its holdings in shares of Exelixis by 8.3% in the first quarter. Redwood Investment Management LLC now owns 63,380 shares of the biotechnology company’s stock worth $1,504,000 after purchasing an additional 4,842 shares during the last quarter. Finally, Tidal Investments LLC increased its stake in Exelixis by 10.0% in the 1st quarter. Tidal Investments LLC now owns 9,710 shares of the biotechnology company’s stock worth $230,000 after buying an additional 886 shares during the period. 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.