Citizens Jmp Forecasts Strong Price Appreciation for Exelixis (NASDAQ:EXEL) Stock

Exelixis (NASDAQ:EXEL) had its target price hoisted by analysts at Citizens Jmp from $55.00 to $65.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “market outperform” rating on the biotechnology company’s stock. Citizens Jmp’s price objective would suggest a potential upside of 4.45% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. William Blair restated an “outperform” rating on shares of Exelixis in a research note on Friday, September 11th. Truist Financial upped their target price on shares of Exelixis from $52.00 to $54.00 and gave the stock a “hold” rating in a report on Wednesday, October 7th. Barclays increased their target price on shares of Exelixis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 14th. Citigroup reiterated a “market outperform” rating on shares of Exelixis in a research report on Monday. Finally, Leerink Partners downgraded Exelixis from an “outperform” rating to a “market perform” rating and set a $52.00 price target for the company. in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $51.50.

Exelixis Price Performance

Exelixis stock opened at $62.23 on Monday. The firm has a market capitalization of $15.42 billion, a P/E ratio of 19.57, a PEG ratio of 1.75 and a beta of 0.47. Exelixis has a one year low of $33.76 and a one year high of $63.39. The business has a fifty day moving average price of $56.89 and a 200-day moving average price of $52.95.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Exelixis had a return on equity of 42.17% and a net margin of 35.33%. The company had revenue of $628.69 million for the quarter, compared to analyst estimates of $636.40 million. During the same period in the previous year, the company posted $0.75 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. Sell-side analysts expect that Exelixis will post 3.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Mary Beckerle sold 9,812 shares of Exelixis stock in a transaction on Monday, August 10th. The shares were sold at an average price of $53.66, for a total value of $526,511.92. Following the transaction, the director owned 16,079 shares in the company, valued at $862,799.14. This trade represents a 37.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Exelixis

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cassaday & Co Wealth Management LLC purchased a new stake in Exelixis during the 1st quarter valued at $27,000. Western Wealth Management LLC purchased a new position in shares of Exelixis during the first quarter valued at approximately $29,000. Mather Group LLC. increased its position in Exelixis by 124.6% during the 3rd quarter. Mather Group LLC. now owns 757 shares of the biotechnology company’s stock valued at $44,000 after purchasing an additional 420 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Exelixis in the 2nd quarter worth $46,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Exelixis in the 2nd quarter worth about $57,000. Institutional investors own 85.27% of the company’s stock.

Exelixis Company Profile

Exelixis, Inc is a biopharmaceutical company focused on discovering, developing, and commercializing medicines for cancer and other serious diseases. The company’s research programs center primarily on targeted therapies, including treatments designed to inhibit signaling pathways involved in tumor growth and progression.

Exelixis’ lead product is CABOMETYX (cabozantinib), an oral medicine approved in the United States for certain patients with renal cell carcinoma, hepatocellular carcinoma, and differentiated thyroid cancer.