Exelixis (NASDAQ:EXEL) Price Target Raised to $36.00

Exelixis (NASDAQ:EXEL) had its target price lifted by Stifel Nicolaus from $30.00 to $36.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the biotechnology company’s stock.

Other research analysts have also issued research reports about the company. The Goldman Sachs Group upgraded Exelixis to a “strong sell” rating in a research report on Tuesday, October 15th. Truist Financial raised their price objective on Exelixis from $42.00 to $43.00 and gave the company a “buy” rating in a report on Monday, January 27th. Piper Sandler raised their price objective on Exelixis from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday. Brookline Capital Management assumed coverage on Exelixis in a report on Monday, December 23rd. They issued a “buy” rating on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $34.00 price objective on shares of Exelixis in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.24.

Exelixis Price Performance

Shares of NASDAQ:EXEL opened at $35.00 on Wednesday. Exelixis has a 1 year low of $20.14 and a 1 year high of $37.59. The firm has a market capitalization of $10.00 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 0.63 and a beta of 0.53. The business’s 50 day moving average price is $34.19 and its 200-day moving average price is $30.83.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a net margin of 22.43% and a return on equity of 20.99%. On average, sell-side analysts expect that Exelixis will post 1.74 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Jeffrey Hessekiel sold 60,000 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the completion of the sale, the executive vice president now directly owns 486,059 shares of the company’s stock, valued at approximately $17,823,783.53. This trade represents a 10.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Patrick J. Haley sold 10,000 shares of Exelixis stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $35.27, for a total value of $352,700.00. Following the completion of the transaction, the executive vice president now directly owns 278,665 shares of the company’s stock, valued at approximately $9,828,514.55. This represents a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,588 shares of company stock valued at $3,981,864. 2.85% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Exelixis

Institutional investors have recently bought and sold shares of the company. Seizert Capital Partners LLC grew its position in Exelixis by 8.0% in the 3rd quarter. Seizert Capital Partners LLC now owns 469,940 shares of the biotechnology company’s stock valued at $12,195,000 after acquiring an additional 34,875 shares in the last quarter. Los Angeles Capital Management LLC grew its position in Exelixis by 124.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock valued at $46,473,000 after acquiring an additional 991,494 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in Exelixis by 60.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 54,863 shares of the biotechnology company’s stock valued at $1,424,000 after acquiring an additional 20,641 shares in the last quarter. Tri Ri Asset Management Corp acquired a new position in Exelixis in the 3rd quarter valued at about $4,396,000. Finally, CWA Asset Management Group LLC acquired a new position in Exelixis in the 3rd quarter valued at about $577,000. 85.27% of the stock is owned by institutional investors and hedge funds.

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.