Brokerages Set Exelixis, Inc. (NASDAQ:EXEL) Target Price at $27.43

Shares of Exelixis, Inc. (NASDAQ:EXEL) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $27.43.

Several analysts have issued reports on the company. JMP Securities boosted their price objective on Exelixis from $27.00 to $29.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 7th. Truist Financial restated a “buy” rating and issued a $33.00 price target (up previously from $32.00) on shares of Exelixis in a research report on Thursday, August 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $27.00 price objective on shares of Exelixis in a research note on Wednesday, August 7th. StockNews.com raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 13th. Finally, Stephens started coverage on Exelixis in a research report on Tuesday, May 14th. They issued an “equal weight” rating and a $23.00 target price for the company.

Insider Activity at Exelixis

In other Exelixis news, CFO Christopher J. Senner sold 125,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $27.19, for a total transaction of $3,398,750.00. Following the transaction, the chief financial officer now directly owns 721,680 shares in the company, valued at $19,622,479.20. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Exelixis news, Director George Poste sold 33,725 shares of Exelixis stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $26.89, for a total transaction of $906,865.25. Following the sale, the director now directly owns 199,020 shares of the company’s stock, valued at $5,351,647.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christopher J. Senner sold 125,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $27.19, for a total value of $3,398,750.00. Following the completion of the sale, the chief financial officer now directly owns 721,680 shares in the company, valued at approximately $19,622,479.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 302,858 shares of company stock valued at $7,980,629. 2.85% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in EXEL. Norges Bank bought a new stake in Exelixis during the 4th quarter worth about $73,449,000. LSV Asset Management lifted its holdings in shares of Exelixis by 107.7% in the second quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock valued at $129,511,000 after purchasing an additional 2,989,021 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Exelixis by 948.3% during the first quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock worth $58,240,000 after buying an additional 2,220,150 shares during the period. Jupiter Asset Management Ltd. grew its holdings in shares of Exelixis by 148.2% during the first quarter. Jupiter Asset Management Ltd. now owns 2,267,894 shares of the biotechnology company’s stock worth $53,817,000 after buying an additional 1,354,062 shares in the last quarter. Finally, Swedbank AB acquired a new stake in Exelixis in the 1st quarter valued at approximately $22,455,000. 85.27% of the stock is owned by institutional investors.

Exelixis Stock Performance

Exelixis stock opened at $25.15 on Monday. The firm has a market cap of $7.63 billion, a price-to-earnings ratio of 39.30, a price-to-earnings-growth ratio of 0.50 and a beta of 0.54. Exelixis has a 1 year low of $18.64 and a 1 year high of $27.53. The firm’s 50 day moving average price is $24.31 and its two-hundred day moving average price is $22.99.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.44. The business had revenue of $637.18 million during the quarter, compared to analyst estimates of $468.21 million. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. As a group, equities analysts predict that Exelixis will post 1.54 EPS for the current fiscal year.

About Exelixis

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.