Exelixis (NASDAQ:EXEL) Given New $36.00 Price Target at BMO Capital Markets

Exelixis (NASDAQ:EXEL) had its target price boosted by investment analysts at BMO Capital Markets from $29.00 to $36.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the biotechnology company’s stock. BMO Capital Markets’ target price would suggest a potential upside of 9.82% from the stock’s previous close.

A number of other brokerages have also commented on EXEL. HC Wainwright reaffirmed a “buy” rating and set a $29.00 price objective on shares of Exelixis in a research report on Wednesday, September 18th. Stifel Nicolaus increased their price objective on Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Morgan Stanley lifted their price target on shares of Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. The Goldman Sachs Group upgraded Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. Finally, Oppenheimer reissued an “outperform” rating and set a $29.00 price objective on shares of Exelixis in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.00.

Exelixis Trading Up 14.1 %

EXEL stock traded up $4.05 during mid-day trading on Wednesday, hitting $32.78. The stock had a trading volume of 1,713,175 shares, compared to its average volume of 2,020,749. The stock has a market capitalization of $9.35 billion, a price-to-earnings ratio of 27.46, a PEG ratio of 0.61 and a beta of 0.54. Exelixis has a 1-year low of $19.20 and a 1-year high of $32.98. The company has a fifty day moving average of $26.69 and a 200 day moving average of $24.09.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.44. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. The business had revenue of $637.18 million during the quarter, compared to analysts’ expectations of $468.21 million. As a group, sell-side analysts expect that Exelixis will post 1.58 earnings per share for the current fiscal year.

Insider Activity at Exelixis

In related news, CFO Christopher J. Senner sold 125,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $27.19, for a total value of $3,398,750.00. Following the sale, the chief financial officer now directly owns 721,680 shares in the company, valued at $19,622,479.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Exelixis news, CFO Christopher J. Senner sold 125,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $27.19, for a total value of $3,398,750.00. Following the completion of the sale, the chief financial officer now owns 721,680 shares of the company’s stock, valued at approximately $19,622,479.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dana Aftab sold 20,883 shares of Exelixis stock in a transaction on Monday, August 12th. The stock was sold at an average price of $27.06, for a total transaction of $565,093.98. Following the transaction, the executive vice president now directly owns 500,107 shares in the company, valued at approximately $13,532,895.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 327,858 shares of company stock worth $8,640,129. 2.85% of the stock is owned by insiders.

Hedge Funds Weigh In On Exelixis

Several institutional investors have recently modified their holdings of EXEL. LSV Asset Management lifted its stake in Exelixis by 1,651.4% in the first quarter. LSV Asset Management now owns 2,774,707 shares of the biotechnology company’s stock valued at $65,844,000 after buying an additional 2,616,278 shares in the last quarter. Hsbc Holdings PLC increased its stake in Exelixis by 45.3% in the 2nd quarter. Hsbc Holdings PLC now owns 90,211 shares of the biotechnology company’s stock valued at $2,031,000 after buying an additional 28,126 shares during the last quarter. Farallon Capital Management LLC increased its stake in shares of Exelixis by 1.6% during the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock worth $608,993,000 after purchasing an additional 424,000 shares during the last quarter. Intech Investment Management LLC raised its holdings in shares of Exelixis by 155.8% in the 1st quarter. Intech Investment Management LLC now owns 100,039 shares of the biotechnology company’s stock valued at $2,374,000 after purchasing an additional 60,925 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in shares of Exelixis in the 1st quarter valued at about $1,281,000. 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.