Exelixis, Inc. (NASDAQ:EXEL) Receives $31.44 Average Price Target from Analysts

Shares of Exelixis, Inc. (NASDAQ:EXEL) have been assigned an average recommendation of “Moderate Buy” from the nineteen ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $31.88.

A number of equities analysts have commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $34.00 price objective on shares of Exelixis in a research report on Wednesday, October 30th. Stifel Nicolaus upped their price target on shares of Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. HC Wainwright reissued a “buy” rating and issued a $29.00 price target on shares of Exelixis in a report on Wednesday, September 18th. The Goldman Sachs Group raised Exelixis to a “strong sell” rating in a research report on Tuesday, October 15th. Finally, BMO Capital Markets lifted their price target on Exelixis from $29.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th.

Exelixis Price Performance

Exelixis stock opened at $34.69 on Wednesday. The company’s 50-day moving average is $33.04 and its 200-day moving average is $27.38. The firm has a market capitalization of $9.91 billion, a PE ratio of 22.24, a P/E/G ratio of 0.89 and a beta of 0.52. Exelixis has a fifty-two week low of $19.20 and a fifty-two week high of $36.97.

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 the consensus estimate of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The firm had revenue of $539.50 million for the quarter, compared to analyst estimates of $490.31 million. During the same quarter in the prior year, the company earned $0.10 earnings per share. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, analysts expect that Exelixis will post 1.69 EPS for the current year.

Insider Buying and Selling at Exelixis

In related news, EVP Jeffrey Hessekiel sold 25,000 shares of Exelixis stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $26.38, for a total transaction of $659,500.00. Following the sale, the executive vice president now directly owns 605,325 shares of the company’s stock, valued at approximately $15,968,473.50. The trade was a 3.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dana Aftab sold 96,986 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $35.00, for a total transaction of $3,394,510.00. Following the transaction, the executive vice president now owns 498,945 shares of the company’s stock, valued at approximately $17,463,075. This represents a 16.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 339,736 shares of company stock valued at $11,508,610. 2.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Exelixis

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Covestor Ltd grew its holdings in shares of Exelixis by 5.7% during the third quarter. Covestor Ltd now owns 6,335 shares of the biotechnology company’s stock worth $164,000 after purchasing an additional 341 shares during the last quarter. Resonant Capital Advisors LLC boosted its position in Exelixis by 3.6% during the 2nd quarter. Resonant Capital Advisors LLC now owns 13,746 shares of the biotechnology company’s stock worth $309,000 after buying an additional 477 shares during the period. Cornercap Investment Counsel Inc. grew its holdings in Exelixis by 1.1% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 50,497 shares of the biotechnology company’s stock worth $1,135,000 after acquiring an additional 539 shares during the last quarter. Creative Planning increased its position in Exelixis by 0.8% in the 2nd quarter. Creative Planning now owns 71,700 shares of the biotechnology company’s stock valued at $1,611,000 after acquiring an additional 548 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in shares of Exelixis by 3.2% during the third quarter. Advisors Asset Management Inc. now owns 19,853 shares of the biotechnology company’s stock valued at $515,000 after acquiring an additional 609 shares during the last quarter. 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.