Exelixis (NASDAQ:EXEL) Price Target Raised to $29.00

Exelixis (NASDAQ:EXEL) had its price objective boosted by Stephens from $23.00 to $29.00 in a report published on Wednesday morning, Benzinga reports. The firm currently has an equal weight rating on the biotechnology company’s stock.

A number of other research analysts have also recently commented on the company. Morgan Stanley upped their price target on Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. JMP Securities restated a “market outperform” rating and set a $29.00 price target on shares of Exelixis in a research note on Friday, October 11th. Guggenheim upped their price target on Exelixis from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday. HC Wainwright restated a “buy” rating and set a $29.00 price target on shares of Exelixis in a research note on Wednesday, September 18th. Finally, Piper Sandler upped their price target on Exelixis from $33.00 to $36.00 and gave the stock an “overweight” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Exelixis presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.44.

Exelixis Stock Performance

Shares of Exelixis stock opened at $34.12 on Wednesday. The firm has a market capitalization of $9.74 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 0.69 and a beta of 0.54. Exelixis has a fifty-two week low of $19.20 and a fifty-two week high of $34.45. The stock has a 50 day moving average of $27.13 and a 200 day moving average of $24.29.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. The company had revenue of $539.50 million during the quarter, compared to analyst estimates of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 earnings per share. Analysts forecast that Exelixis will post 1.59 EPS for the current year.

Insider Buying and Selling

In related news, EVP Dana Aftab sold 1,162 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total transaction of $36,486.80. Following the transaction, the executive vice president now owns 498,945 shares of the company’s stock, valued at $15,666,873. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Maria C. Freire sold 8,250 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $26.56, for a total transaction of $219,120.00. Following the transaction, the director now owns 91,007 shares of the company’s stock, valued at $2,417,145.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Dana Aftab sold 1,162 shares of Exelixis stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total value of $36,486.80. Following the completion of the sale, the executive vice president now directly owns 498,945 shares in the company, valued at $15,666,873. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 354,020 shares of company stock valued at $9,386,366 over the last quarter. 2.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Exelixis

A number of institutional investors have recently added to or reduced their stakes in the business. Covestor Ltd boosted its holdings in Exelixis by 5.7% in the 3rd quarter. Covestor Ltd now owns 6,335 shares of the biotechnology company’s stock valued at $164,000 after purchasing an additional 341 shares in the last quarter. CWA Asset Management Group LLC purchased a new stake in Exelixis in the 3rd quarter valued at approximately $577,000. Capital Performance Advisors LLP purchased a new stake in Exelixis in the 3rd quarter valued at approximately $61,000. Heritage Investors Management Corp purchased a new stake in Exelixis in the 3rd quarter valued at approximately $201,000. Finally, Capital Management Corp VA boosted its holdings in Exelixis by 7.5% in the 3rd quarter. Capital Management Corp VA now owns 365,270 shares of the biotechnology company’s stock valued at $9,479,000 after purchasing an additional 25,350 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

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.