Exelixis (NASDAQ:EXEL) Price Target Raised to $43.00

Exelixis (NASDAQ:EXEL) had its price objective hoisted by Truist Financial from $42.00 to $43.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock.

Other equities analysts have also issued reports about the stock. JMP Securities restated a “market outperform” rating and set a $41.00 target price on shares of Exelixis in a research report on Thursday, January 23rd. Oppenheimer downgraded 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. Bank of America lowered shares of Exelixis from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $35.00 to $39.00 in a research report on Tuesday, December 17th. HC Wainwright restated a “buy” rating and issued a $40.00 target price on shares of Exelixis in a research note on Monday. Finally, Guggenheim reissued a “buy” rating on shares of Exelixis in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.06.

Exelixis Stock Up 1.1 %

Shares of EXEL opened at $32.96 on Monday. Exelixis has a 52-week low of $20.01 and a 52-week high of $37.59. The stock has a 50 day moving average price of $34.77 and a 200 day moving average price of $29.99. The company has a market capitalization of $9.41 billion, a price-to-earnings ratio of 21.13, a price-to-earnings-growth ratio of 0.72 and a beta of 0.53.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. The firm had revenue of $539.50 million for the quarter, compared to analyst estimates of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. Exelixis’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period last year, the business earned $0.10 EPS. On average, equities analysts anticipate that Exelixis will post 1.74 EPS for the current fiscal year.

Insider Activity

In other Exelixis news, EVP Dana Aftab sold 96,986 shares of the stock in a transaction 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 sale, the executive vice president now owns 498,945 shares in the company, valued at approximately $17,463,075. This represents a 16.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George Poste sold 30,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $34.00, for a total value of $1,020,000.00. Following the completion of the transaction, the director now directly owns 169,020 shares of the company’s stock, valued at approximately $5,746,680. This trade represents a 15.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 288,574 shares of company stock worth $10,102,874 over the last 90 days. 2.85% of the stock is currently owned by corporate insiders.

Institutional Trading of Exelixis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. USA Financial Formulas purchased a new position in Exelixis in the 4th quarter valued at about $32,000. V Square Quantitative Management LLC acquired a new position in shares of Exelixis in the third quarter valued at approximately $30,000. UMB Bank n.a. lifted its stake in shares of Exelixis by 68.4% during the fourth quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 553 shares during the period. Brooklyn Investment Group acquired a new stake in Exelixis during the third quarter worth approximately $42,000. Finally, MassMutual Private Wealth & Trust FSB grew its stake in Exelixis by 18.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,890 shares of the biotechnology company’s stock worth $63,000 after acquiring an additional 290 shares during the period. Hedge funds and other institutional investors 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.