Exelixis (NASDAQ:EXEL – Get Rating) released its earnings results on Tuesday. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.04), Briefing.com reports. The company had revenue of $423.92 million for the quarter, compared to the consensus estimate of $418.71 million. Exelixis had a return on equity of 13.11% and a net margin of 18.78%. The business's revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.29 EPS.
Exelixis Price Performance
NASDAQ:EXEL traded up $0.53 during mid-day trading on Wednesday, reaching $17.82. The stock had a trading volume of 1,101,195 shares, compared to its average volume of 2,793,073. Exelixis has a 12 month low of $14.87 and a 12 month high of $23.40. The stock has a market capitalization of $5.75 billion, a PE ratio of 18.53, a P/E/G ratio of 0.58 and a beta of 0.72. The stock has a 50-day simple moving average of $16.60 and a two-hundred day simple moving average of $17.26.
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Wall Street Analyst Weigh In
A number of brokerages recently weighed in on EXEL. Royal Bank of Canada lowered their target price on shares of Exelixis from $31.00 to $29.00 and set an "outperform" rating on the stock in a report on Wednesday, November 2nd. Piper Sandler reaffirmed an "overweight" rating and issued a $32.00 price objective on shares of Exelixis in a research report on Wednesday. EF Hutton Acquisition Co. I reissued a "buy" rating and set a $24.00 target price on shares of Exelixis in a report on Wednesday. Credit Suisse Group started coverage on shares of Exelixis in a research note on Thursday, January 26th. They issued an "outperform" rating and a $29.00 price target on the stock. Finally, Cowen decreased their price objective on Exelixis from $21.00 to $20.00 in a report on Monday, January 9th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $27.58.
Insiders Place Their Bets
In other news, EVP Peter Lamb sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $15.88, for a total value of $317,600.00. Following the sale, the executive vice president now directly owns 410,958 shares in the company, valued at approximately $6,526,013.04. The transaction was disclosed in a filing with the SEC, which is available at
the SEC website. In other news, EVP Peter Lamb sold 20,000 shares of Exelixis stock in a transaction dated Thursday, December 15th. The stock was sold at an average price of $15.88, for a total transaction of $317,600.00. Following the sale, the executive vice president now directly owns 410,958 shares of the company's stock, valued at $6,526,013.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through
the SEC website. Also, Director George Poste sold 40,000 shares of the company's stock in a transaction that occurred on Tuesday, November 29th. The shares were sold at an average price of $16.68, for a total value of $667,200.00. Following the completion of the transaction, the director now directly owns 193,189 shares of the company's stock, valued at approximately $3,222,392.52. The disclosure for this sale can be found
here. Corporate insiders own 2.90% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of EXEL. Toroso Investments LLC bought a new stake in shares of Exelixis in the third quarter valued at $198,000. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Exelixis in the third quarter worth $672,000. Captrust Financial Advisors boosted its stake in Exelixis by 167.4% during the third quarter. Captrust Financial Advisors now owns 15,766 shares of the biotechnology company's stock valued at $247,000 after buying an additional 9,871 shares during the period. Balyasny Asset Management LLC purchased a new position in Exelixis during the third quarter worth about $6,672,000. Finally, BNP Paribas Arbitrage SNC increased its stake in Exelixis by 17.0% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 214,537 shares of the biotechnology company's stock worth $3,364,000 after acquiring an additional 31,114 shares during the last quarter. Institutional investors and hedge funds own 84.74% of the company's stock.
About Exelixis
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Exelixis, Inc is a biopharmaceutical company, which engages in the development, commercialization, and discovery of new medicines for the treatment of cancer. It offers products under the brands of COMETRIQ, CABOMETYX, COTELLIC, and MINNEBRO. The company was founded by Corey S. Goodman and Stelios B.
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