Exelixis (NASDAQ:EXEL) Stock Price Expected to Rise, Citigroup Analyst Says

Exelixis (NASDAQ:EXEL) had its price target hoisted by Citigroup from $38.00 to $45.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock.

EXEL has been the topic of several other reports. Oppenheimer lowered Exelixis from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $41.00 to $33.00 in a research note on Friday, January 24th. Truist Financial boosted their price objective on Exelixis from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, January 27th. The Goldman Sachs Group upgraded shares of Exelixis to a “strong sell” rating in a research report on Tuesday, October 15th. Piper Sandler raised their price objective on shares of Exelixis from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Morgan Stanley raised shares of Exelixis from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $30.00 to $40.00 in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Exelixis Stock Down 0.0 %

EXEL stock opened at $32.80 on Wednesday. The firm has a market capitalization of $9.37 billion, a PE ratio of 21.03, a P/E/G ratio of 0.63 and a beta of 0.53. Exelixis has a twelve month low of $20.14 and a twelve month high of $37.59. The stock’s 50 day moving average is $34.24 and its 200-day moving average is $30.72.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a net margin of 22.43% and a return on equity of 20.99%. On average, equities research analysts anticipate that Exelixis will post 1.74 earnings per share for the current fiscal year.

Insider Activity

In other Exelixis news, EVP Jeffrey Hessekiel sold 60,000 shares of Exelixis stock in a transaction on 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 transaction, the executive vice president now owns 486,059 shares in the company, valued at approximately $17,823,783.53. The trade was a 10.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Patrick J. Haley sold 10,000 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $35.27, for a total value of $352,700.00. Following the completion of the sale, the executive vice president now directly owns 278,665 shares in the company, 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. Over the last ninety days, insiders sold 111,588 shares of company stock worth $3,981,864. Insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

Institutional investors have recently modified their holdings of the business. V Square Quantitative Management LLC purchased a new stake in shares of Exelixis during the 3rd quarter valued at about $30,000. USA Financial Formulas bought a new stake in Exelixis during the fourth quarter valued at approximately $32,000. Principal Securities Inc. grew its position in Exelixis by 62.8% during the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 373 shares during the period. Kestra Investment Management LLC purchased a new stake in Exelixis during the fourth quarter valued at approximately $39,000. Finally, Brooklyn Investment Group bought a new position in Exelixis in the third quarter worth approximately $42,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

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.