Exelixis (NASDAQ:EXEL) Given New $28.00 Price Target at Morgan Stanley

Exelixis (NASDAQ:EXEL) had its price target boosted by Morgan Stanley from $26.00 to $28.00 in a research note published on Friday, Benzinga reports. The firm currently has an equal weight rating on the biotechnology company’s stock.

EXEL has been the subject of several other research reports. HC Wainwright reaffirmed a buy rating and set a $29.00 price objective on shares of Exelixis in a research note on Wednesday, September 18th. JMP Securities restated a market outperform rating and set a $29.00 price objective on shares of Exelixis in a research report on Friday, September 20th. Oppenheimer reiterated an outperform rating and issued a $29.00 target price on shares of Exelixis in a report on Tuesday, July 30th. Truist Financial restated a buy rating and set a $33.00 price target (up previously from $32.00) on shares of Exelixis in a report on Thursday, August 8th. Finally, Royal Bank of Canada upped their price objective on Exelixis from $27.00 to $30.00 and gave the company an outperform rating in a report on Friday, October 4th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $28.07.

Exelixis Stock Up 2.0 %

EXEL stock opened at $26.23 on Friday. Exelixis has a 52 week low of $18.64 and a 52 week high of $27.83. The firm has a 50-day simple moving average of $26.14 and a 200-day simple moving average of $23.67. The stock has a market capitalization of $7.48 billion, a P/E ratio of 22.61, a P/E/G ratio of 0.54 and a beta of 0.54.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.31 by $0.44. The company had revenue of $637.18 million during the quarter, compared to analyst estimates of $468.21 million. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. On average, analysts expect that Exelixis will post 1.59 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Christopher J. Senner sold 125,000 shares of Exelixis stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $27.19, for a total value of $3,398,750.00. Following the completion of the transaction, the chief financial officer now owns 721,680 shares in the company, valued at approximately $19,622,479.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Christopher J. Senner sold 125,000 shares of Exelixis stock in a transaction on Friday, August 9th. The shares were sold at an average price of $27.19, for a total transaction of $3,398,750.00. Following the completion of the sale, the chief financial officer now directly owns 721,680 shares of the company’s stock, valued at approximately $19,622,479.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dana Aftab sold 95,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total transaction of $2,375,000.00. Following the transaction, the executive vice president now owns 520,990 shares of the company’s stock, valued at approximately $13,024,750. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 327,858 shares of company stock valued at $8,640,129 in the last three months. 2.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Exelixis

Several hedge funds have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC grew its position in shares of Exelixis by 232.6% in the 4th quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 728 shares during the last quarter. Rise Advisors LLC purchased a new stake in shares of Exelixis in the 1st quarter valued at about $28,000. Park Place Capital Corp acquired a new stake in shares of Exelixis in the 2nd quarter valued at about $45,000. GAMMA Investing LLC grew its stake in Exelixis by 107.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock worth $45,000 after buying an additional 1,041 shares during the last quarter. Finally, EntryPoint Capital LLC increased 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 worth $49,000 after buying an additional 1,746 shares during the period. 85.27% of the stock is currently 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.