HC Wainwright Issues Positive Forecast for Exelixis (NASDAQ:EXEL) Stock Price

Exelixis (NASDAQ:EXEL) had its price target lifted by HC Wainwright from $29.00 to $40.00 in a report published on Friday morning,Benzinga reports. HC Wainwright currently has a buy rating on the biotechnology company’s stock.

A number of other brokerages have also commented on EXEL. Stephens raised their price objective on shares of Exelixis from $23.00 to $29.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. UBS Group started coverage on Exelixis in a research note on Thursday, September 19th. They issued a “neutral” rating and a $30.00 price target on the stock. Wells Fargo & Company upped their price objective on Exelixis from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Morgan Stanley boosted their target price on Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. Finally, BMO Capital Markets cut shares of Exelixis from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $36.00 to $40.00 in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.69.

Exelixis Trading Up 4.4 %

Shares of Exelixis stock opened at $36.02 on Friday. Exelixis has a 12 month low of $20.01 and a 12 month high of $36.97. The company has a market capitalization of $10.29 billion, a PE ratio of 23.09, a PEG ratio of 0.88 and a beta of 0.53. The stock’s fifty day simple moving average is $34.84 and its 200 day simple moving average is $28.71.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The business had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $490.31 million. During the same quarter in the previous year, the business posted $0.10 EPS. Exelixis’s revenue for the quarter was up 14.3% on a year-over-year basis. Analysts predict that Exelixis will post 1.69 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Dana Aftab sold 96,986 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $35.00, for a total transaction of $3,394,510.00. Following the completion of the sale, the executive vice president now owns 498,945 shares in the company, valued at $17,463,075. The trade was a 16.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the transaction, the executive vice president now directly owns 486,059 shares in the company, valued at $17,823,783.53. The trade was a 10.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 314,736 shares of company stock valued at $10,849,110. 2.85% of the stock is owned by insiders.

Institutional Trading of Exelixis

Institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in shares of Exelixis by 15.2% in the second quarter. Victory Capital Management Inc. now owns 116,806 shares of the biotechnology company’s stock valued at $2,625,000 after acquiring an additional 15,368 shares during the period. Cornercap Investment Counsel Inc. increased its holdings in shares of Exelixis by 1.1% during the second quarter. Cornercap Investment Counsel Inc. now owns 50,497 shares of the biotechnology company’s stock worth $1,135,000 after purchasing an additional 539 shares during the period. Federated Hermes Inc. raised its position in shares of Exelixis by 1.0% in the second quarter. Federated Hermes Inc. now owns 227,909 shares of the biotechnology company’s stock valued at $5,121,000 after buying an additional 2,333 shares in the last quarter. Inspire Advisors LLC acquired a new stake in shares of Exelixis in the second quarter valued at approximately $454,000. Finally, Massachusetts Financial Services Co. MA grew its position in Exelixis by 3.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 465,048 shares of the biotechnology company’s stock worth $10,450,000 after buying an additional 14,443 shares in the last quarter. 85.27% of the stock is currently owned by 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.