BMO Capital Markets slashes price target on Exelixis Inc. [EXEL] – find out why.

Exelixis Inc. [NASDAQ: EXEL] loss -0.72% on the last trading session, reaching $20.79 price per share at the time. The company report on June 21, 2022 that Exelixis Announces Initiation of the STELLAR-303 Phase 3 Pivotal Trial Evaluating XL092 in Patients with Metastatic Colorectal Cancer.

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– STELLAR-303 is the first phase 3 pivotal trial evaluating XL092, a next-generation oral tyrosine kinase inhibitor –.

Exelixis, Inc. (Nasdaq: EXEL) today announced the initiation of STELLAR-303, a phase 3 pivotal trial evaluating XL092 in combination with atezolizumab versus regorafenib in patients with metastatic colorectal cancer (CRC) that is not microsatellite instability-high or mismatch repair-deficient, who have progressed after or are intolerant to the standard of care therapy. XL092 is a next-generation tyrosine kinase inhibitor (TKI) in development for multiple advanced tumor types.

Exelixis Inc. represents 319.58 million in outstanding shares, while the company has a total market value of $6.40 billion with the latest information. EXEL stock price has been found in the range of $20.67 to $21.11.

If compared to the average trading volume of 2.74M shares, EXEL reached a trading volume of 3278231 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Exelixis Inc. [EXEL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EXEL shares is $27.15 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EXEL stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BMO Capital Markets have made an estimate for Exelixis Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 24, 2022. While these analysts kept the previous recommendation, Piper Sandler raised their target price to Overweight. The new note on the price target was released on November 19, 2021, representing the official price target for Exelixis Inc. stock. Previously, the target price had yet another raise to $28, while Jefferies analysts kept a Buy rating on EXEL stock.

The Average True Range (ATR) for Exelixis Inc. is set at 0.84, with the Price to Sales ratio for EXEL stock in the period of the last 12 months amounting to 4.21. The Price to Book ratio for the last quarter was 2.90, with the Price to Cash per share for the same quarter was set at 5.10. Price to Free Cash Flow for EXEL in the course of the last twelve months was 14.14 with Quick ratio for the last quarter at 6.30.

Trading performance analysis for EXEL stock

Exelixis Inc. [EXEL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.97. With this latest performance, EXEL shares gained by 12.99% in over the last four-week period, additionally plugging by 10.35% over the last 6 months – not to mention a rise of 15.82% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EXEL stock in for the last two-week period is set at 57.27, with the RSI for the last a single of trading hit 59.07, and the three-weeks RSI is set at 55.00 for Exelixis Inc. [EXEL]. The present Moving Average for the last 50 days of trading for this stock 20.10, while it was recorded at 21.50 for the last single week of trading, and 19.79 for the last 200 days.

Exelixis Inc. [EXEL]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Exelixis Inc. [EXEL] shares currently have an operating margin of +19.98 and a Gross Margin at +96.32. Exelixis Inc.’s Net Margin is presently recorded at +16.10.

Return on Equity for this stock inclined to 11.30, with Return on Assets sitting at 9.70.

Exelixis Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.30 and a Current Ratio set at 6.40.

Exelixis Inc. [EXEL]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for EXEL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Exelixis Inc. go to 46.00%.

An analysis of insider ownership at Exelixis Inc. [EXEL]

There are presently around $5,749 million, or 86.70% of EXEL stock, in the hands of institutional investors. The top three institutional holders of EXEL stocks are: BLACKROCK INC. with ownership of 32,884,561, which is approximately 1.881% of the company’s market cap and around 1.50% of the total institutional ownership; VANGUARD GROUP INC, holding 30,268,772 shares of the stock with an approximate value of $633.83 million in EXEL stocks shares; and FMR LLC, currently with $360.17 million in EXEL stock with ownership of nearly -8.535% of the company’s market capitalization.

Positions in Exelixis Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 194 institutional holders increased their position in Exelixis Inc. [NASDAQ:EXEL] by around 20,846,667 shares. Additionally, 148 investors decreased positions by around 18,342,384 shares, while 60 investors held positions by with 235,360,042 shares. The mentioned changes placed institutional holdings at 274,549,093 shares, according to the latest SEC report filing. EXEL stock had 70 new institutional investments in for a total of 5,042,368 shares, while 36 institutional investors sold positions of 1,225,117 shares during the same period.


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