Exelixis (EXEL) Received its Third Buy in a Row

After RBC Capital and Needham gave Exelixis (NASDAQ: EXEL) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Silvan Tuerkcan maintained a Buy rating on Exelixis yesterday and set a price target of $28.00. The company’s shares closed last Tuesday at $25.29.

According to TipRanks.com, Tuerkcan is a 5-star analyst with an average return of 38.4% and a 78.6% success rate. Tuerkcan covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals, Crispr Therapeutics AG, and Intellia Therapeutics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Exelixis with a $26.55 average price target, a 2.2% upside from current levels. In a report issued on April 20, RBC Capital also maintained a Buy rating on the stock with a $28.00 price target.

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Based on Exelixis’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $240 million and net profit of $68.74 million. In comparison, last year the company earned revenue of $229 million and had a net profit of $360 million.

Based on the recent corporate insider activity of 115 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EXEL in relation to earlier this year. Most recently, in March 2020, Gisela Schwab, the Pres, Prod Dev & Med Aff & CMO of EXEL sold 100,000 shares for a total of $1,940,000.

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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, and Cotellic. The company was founded by Corey S. Goodman and Stelios B. Papadopoulos on November 15, 1994 and is headquartered in Alameda, CA.