Exelixis (NASDAQ:EXEL – Free Report) had its target price hoisted by UBS Group from $30.00 to $34.00 in a research report report published on Tuesday,Benzinga reports. They currently have a neutral rating on the biotechnology company’s stock.
A number of other brokerages have also recently issued reports on EXEL. Oppenheimer cut Exelixis from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $41.00 to $33.00 in a report on Friday, January 24th. JMP Securities restated a “market outperform” rating and set a $41.00 price objective on shares of Exelixis in a report on Thursday, January 23rd. Stephens reiterated an “equal weight” rating and issued a $29.00 target price on shares of Exelixis in a report on Monday. Truist Financial boosted their price target on shares of Exelixis from $42.00 to $43.00 and gave the company a “buy” rating in a report on Monday. Finally, Piper Sandler raised their price objective on shares of Exelixis from $36.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Exelixis has a consensus rating of “Moderate Buy” and a consensus price target of $36.06.
Get Our Latest Stock Analysis on EXEL
Exelixis Trading Down 0.1 %
Exelixis (NASDAQ:EXEL – Get Free Report) last issued its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $490.31 million. During the same period last year, the firm posted $0.10 earnings per share. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, research analysts forecast that Exelixis will post 1.74 earnings per share for the current year.
Insider Activity
In other Exelixis 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 transaction, the executive vice president now directly owns 486,059 shares in the company, valued at $17,823,783.53. This trade represents a 10.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dana Aftab sold 96,986 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $35.00, for a total value of $3,394,510.00. Following the completion of the sale, the executive vice president now directly owns 498,945 shares of the company’s stock, valued at $17,463,075. This represents a 16.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 208,574 shares of company stock worth $7,376,374. 2.85% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Exelixis
A number of institutional investors have recently modified their holdings of the company. FMR LLC boosted its holdings in shares of Exelixis by 6.1% during the 3rd quarter. FMR LLC now owns 2,462,072 shares of the biotechnology company’s stock worth $63,891,000 after buying an additional 140,568 shares during the period. Los Angeles Capital Management LLC lifted its position in Exelixis by 124.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock worth $46,473,000 after acquiring an additional 991,494 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in Exelixis by 6.1% during the third quarter. Two Sigma Advisers LP now owns 1,702,590 shares of the biotechnology company’s stock valued at $44,182,000 after acquiring an additional 98,000 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Exelixis by 82.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company’s stock valued at $52,884,000 after purchasing an additional 704,786 shares during the last quarter. Finally, Systematic Financial Management LP increased its stake in shares of Exelixis by 7.1% in the third quarter. Systematic Financial Management LP now owns 1,168,391 shares of the biotechnology company’s stock worth $30,320,000 after purchasing an additional 77,599 shares during the period. Institutional investors own 85.27% of the company’s stock.
About Exelixis
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.
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