Truist Financial Boosts Exelixis (NASDAQ:EXEL) Price Target to $38.00

Exelixis (NASDAQ:EXEL) had its price target boosted by Truist Financial from $33.00 to $38.00 in a research note published on Wednesday, Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Other equities analysts also recently issued reports about the stock. JMP Securities reiterated a “market outperform” rating and set a $29.00 price objective on shares of Exelixis in a research note on Friday, October 11th. The Goldman Sachs Group upgraded shares of Exelixis to a “strong sell” rating in a research note on Tuesday, October 15th. Bank of America increased their price objective on shares of Exelixis from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. StockNews.com raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 13th. Finally, Stifel Nicolaus increased their target price on shares of Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.44.

Exelixis Price Performance

Exelixis stock opened at $34.12 on Wednesday. The stock has a market cap of $9.74 billion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 0.89 and a beta of 0.51. Exelixis has a 1 year low of $19.20 and a 1 year high of $34.45. The firm has a 50-day moving average of $27.13 and a two-hundred day moving average of $24.29.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The firm had revenue of $539.50 million for the quarter, compared to the consensus estimate of $490.31 million. During the same period last year, the firm earned $0.10 earnings per share. The company’s quarterly revenue was up 14.3% on a year-over-year basis. Research analysts expect that Exelixis will post 1.59 earnings per share for the current year.

Insiders Place Their Bets

In other Exelixis news, EVP Dana Aftab sold 1,162 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 498,945 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. In related news, Director Maria C. Freire sold 8,250 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $26.56, for a total transaction of $219,120.00. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Dana Aftab sold 1,162 shares of the firm’s stock in a transaction on 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 directly owns 498,945 shares of the company’s stock, valued at approximately $15,666,873. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 354,020 shares of company stock valued at $9,386,366. Insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EXEL. V Square Quantitative Management LLC acquired a new stake in Exelixis during the third quarter valued at $30,000. Park Place Capital Corp acquired a new stake in Exelixis during the second quarter valued at $45,000. GAMMA Investing LLC grew its position in Exelixis by 107.9% during the second quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 1,041 shares during the period. EntryPoint Capital LLC grew its position in Exelixis by 537.2% during the first quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock valued at $49,000 after buying an additional 1,746 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in Exelixis during the third quarter valued at $61,000. Institutional investors and hedge funds 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.