Exelixis (NASDAQ:EXEL – Get Free Report) had its price objective raised by research analysts at Stephens from $23.00 to $29.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the biotechnology company’s stock. Stephens’ price objective points to a potential downside of 11.69% from the company’s previous close.
A number of other research analysts also recently weighed in on the company. Oppenheimer restated an “outperform” rating and issued a $29.00 price target on shares of Exelixis in a research note on Tuesday, July 30th. Truist Financial upped their target price on Exelixis from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $34.00 price objective on shares of Exelixis in a research report on Wednesday. Stifel Nicolaus raised their price objective on Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $29.00 target price on shares of Exelixis in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.44.
Get Our Latest Stock Analysis on EXEL
Exelixis Stock Up 14.3 %
Exelixis (NASDAQ:EXEL – Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.44. Exelixis had a net margin of 17.38% and a return on equity of 15.54%. The company had revenue of $637.18 million during the quarter, compared to the consensus estimate of $468.21 million. On average, sell-side analysts predict that Exelixis will post 1.58 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Exelixis news, EVP Jeffrey Hessekiel sold 25,000 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $26.38, for a total transaction of $659,500.00. Following the completion of the transaction, the executive vice president now owns 605,325 shares in the company, valued at $15,968,473.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Jeffrey Hessekiel sold 25,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $26.38, for a total transaction of $659,500.00. Following the completion of the sale, the executive vice president now owns 605,325 shares of the company’s stock, valued at $15,968,473.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $3,398,750.00. Following the completion of the transaction, the chief financial officer now owns 721,680 shares of the company’s stock, valued at approximately $19,622,479.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 327,858 shares of company stock worth $8,640,129. Company insiders own 2.85% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of EXEL. First Trust Direct Indexing L.P. acquired a new stake in shares of Exelixis in the 1st quarter worth $250,000. Commonwealth Equity Services LLC lifted its position in Exelixis by 4.1% during the first quarter. Commonwealth Equity Services LLC now owns 128,033 shares of the biotechnology company’s stock valued at $3,038,000 after buying an additional 5,037 shares in the last quarter. Smith Group Asset Management LLC acquired a new stake in shares of Exelixis in the 1st quarter valued at about $228,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Exelixis by 3.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,771 shares of the biotechnology company’s stock valued at $778,000 after purchasing an additional 1,301 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in Exelixis by 6.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 60,746 shares of the biotechnology company’s stock worth $1,442,000 after buying an additional 3,510 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.
Exelixis Company Profile
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.
Read More
- Five stocks we like better than Exelixis
- Find and Profitably Trade Stocks at 52-Week Lows
- Boeing: Why Analysts Think Now’s The Time To Be Brave
- The 3 Best Retail Stocks to Shop for in August
- Advanced Micro Devices is Building Momentum with AI: Buy the Dip
- How to Use the MarketBeat Stock Screener
- Can Evolv Stock Recover From Its Massive Self-Inflicted Drop?
Receive News & Ratings for Exelixis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exelixis and related companies with MarketBeat.com's FREE daily email newsletter.