Exelixis Inc. [EXEL] is 22.44% higher this YTD. Is it still time to buy?

Exelixis Inc. [NASDAQ: EXEL] surged by $0.15 during the normal trading session on Thursday and reaching a high of $19.915 during the day while it closed the day at $19.64. The company report on April 13, 2023 that Exelixis Advances Board Refreshment Plan.

Exelixis, Inc. (Nasdaq: EXEL) (the “Company”) today announced that Carl Feldbaum, Esq. and Vincent Marchesi, M.D., Ph.D., two long-standing and valued members of the Board of Directors, will not stand for re-election at the Company’s 2023 Annual Meeting of Stockholders (the “Annual Meeting”). As part of its ongoing refreshment program, the Board is recommending Tomas Heyman, current Chief Executive Officer of Interlaken Therapeutics and former President of Johnson & Johnson’s Corporate Venture Capital Group, and Robert Oliver, former President and Chief Executive Officer of Otsuka America Pharmaceutical, for election as independent directors at the Company’s Annual Meeting to fill Mr. Feldbaum’s and Dr. Marchesi’s seats.

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As previously disclosed, Messrs. Heyman and Oliver were originally nominated by Farallon Capital Management, L.L.C. (“Farallon”). As part of the Company’s efforts to reach an agreement with Farallon to avoid a proxy contest, in the third week of March numerous members of the Exelixis Board met individually with both candidates to assess their qualifications to serve as members of the Board. The Board subsequently agreed to appoint both Messrs. Heyman and Oliver to the Board as part of a proposed settlement agreement with Farallon. However, Farallon was unwilling to sign an agreement and demanded a highly unusual breadth and depth of access to company confidential and proprietary information as a non-negotiable part of any settlement, including unprecedented access to Exelixis’ pipeline, people and clinical trial data. While the Exelixis Board could not concede to Farallon’s information and access demands, the Board determined at the time of the interviews that Messrs. Heyman and Oliver were excellent candidates for the Board, and the failure of settlement negotiations with Farallon does not in any way affect that view.

Exelixis Inc. stock has also loss -1.26% of its value over the past 7 days. However, EXEL stock has inclined by 16.97% in the 3 months of the year. Over the past six months meanwhile, it has gained 26.63% and gained 22.44% year-on date.

The market cap for EXEL stock reached $6.18 billion, with 323.26 million shares outstanding and 315.46 million shares in the current float. Compared to the average trading volume of 3.30M shares, EXEL reached a trading volume of 2486269 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $24.88 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.

Wells Fargo have made an estimate for Exelixis Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on March 09, 2023. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Outperform. The new note on the price target was released on January 26, 2023, representing the official price target for Exelixis Inc. stock. Previously, the target price had yet another raise to $26, while JMP Securities analysts kept a Mkt Outperform rating on EXEL stock.

The Average True Range (ATR) for Exelixis Inc. is set at 0.50, with the Price to Sales ratio for EXEL stock in the period of the last 12 months amounting to 3.84. The Price to Book ratio for the last quarter was 2.55, with the Price to Cash per share for the same quarter was set at 4.16. Price to Free Cash Flow for EXEL in the course of the last twelve months was 18.46 with Quick ratio for the last quarter at 4.90.

EXEL stock trade performance evaluation

Exelixis Inc. [EXEL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.26. With this latest performance, EXEL shares gained by 12.42% in over the last four-week period, additionally plugging by 26.63% over the last 6 months – not to mention a drop of -12.28% 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 61.19, with the RSI for the last a single of trading hit 58.57, and the three-weeks RSI is set at 61.36 for Exelixis Inc. [EXEL]. The present Moving Average for the last 50 days of trading for this stock 18.00, while it was recorded at 19.96 for the last single week of trading, and 17.83 for the last 200 days.

Exelixis Inc. [EXEL]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Exelixis Inc. [EXEL] shares currently have an operating margin of +12.51 and a Gross Margin at +96.41. Exelixis Inc.’s Net Margin is presently recorded at +11.31.

Return on Total Capital for EXEL is now 8.12, given the latest momentum, and Return on Invested Capital for the company is 7.38. Return on Equity for this stock inclined to 7.76, with Return on Assets sitting at 6.41. When it comes to the capital structure of this company, Exelixis Inc. [EXEL] has a Total Debt to Total Equity ratio set at 8.35. Additionally, EXEL Total Debt to Total Capital is recorded at 7.71, with Total Debt to Total Assets ending up at 6.77. Long-Term Debt to Equity for the company is recorded at 7.64, with the Long-Term Debt to Total Capital now at 7.05.

Reflecting on the efficiency of the workforce at the company, Exelixis Inc. [EXEL] managed to generate an average of $149,045 per employee. Receivables Turnover for the company is 6.35 with a Total Asset Turnover recorded at a value of 0.57.Exelixis Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.90 and a Current Ratio set at 5.00.

Earnings per share (EPS) analysis for Exelixis Inc. [EXEL] stock

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%.

Exelixis Inc. [EXEL]: Insider Ownership positions

There are presently around $5,457 million, or 88.10% of EXEL stock, in the hands of institutional investors. The top three institutional holders of EXEL stocks are: BLACKROCK INC. with ownership of 34,530,294, which is approximately 1.873% of the company’s market cap and around 0.70% of the total institutional ownership; VANGUARD GROUP INC, holding 32,289,014 shares of the stock with an approximate value of $629.31 million in EXEL stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $291.59 million in EXEL stock with ownership of nearly -6.673% of the company’s market capitalization.

Positions in Exelixis Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 211 institutional holders increased their position in Exelixis Inc. [NASDAQ:EXEL] by around 23,554,491 shares. Additionally, 174 investors decreased positions by around 20,527,382 shares, while 56 investors held positions by with 235,899,274 shares. The mentioned changes placed institutional holdings at 279,981,147 shares, according to the latest SEC report filing. EXEL stock had 47 new institutional investments in for a total of 3,099,723 shares, while 50 institutional investors sold positions of 6,836,603 shares during the same period.


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