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

Exelixis (NASDAQ:EXEL) had its price objective hoisted by BMO Capital Markets from $29.00 to $36.00 in a report released on Wednesday, Benzinga reports. The firm currently has an outperform rating on the biotechnology company’s stock.

A number of other research analysts have also recently issued reports on EXEL. Oppenheimer reiterated an “outperform” rating and set a $29.00 price objective on shares of Exelixis in a research note on Tuesday, July 30th. StockNews.com upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 13th. Truist Financial restated a “buy” rating and set a $33.00 price objective (up from $32.00) on shares of Exelixis in a research note on Thursday, August 8th. JMP Securities reiterated a “market outperform” rating and issued a $29.00 target price on shares of Exelixis in a research note on Friday, October 11th. Finally, Stifel Nicolaus raised their price target on shares of Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.44.

Exelixis Price Performance

NASDAQ:EXEL opened at $32.44 on Wednesday. The firm’s 50-day moving average price is $26.81 and its 200-day moving average price is $24.15. The company has a market capitalization of $9.25 billion, a PE ratio of 27.97, a P/E/G 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 $33.32.

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

Insider Buying and Selling at Exelixis

In other news, EVP Dana Aftab sold 95,000 shares of Exelixis stock in a transaction on Wednesday, August 7th. The shares were 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 in the company, valued at $13,024,750. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Jeffrey Hessekiel sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $28.39, for a total transaction of $709,750.00. Following the completion of the transaction, the executive vice president now directly owns 580,325 shares in the company, valued at approximately $16,475,426.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Dana Aftab sold 95,000 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 520,990 shares of the company’s stock, valued at $13,024,750. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 352,858 shares of company stock valued at $9,349,879. Insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

A number of hedge funds and other institutional investors have recently modified their holdings of EXEL. Resonant Capital Advisors LLC boosted its holdings in Exelixis by 3.6% in 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. boosted its stake in shares of Exelixis by 1.1% in the second 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 period. Creative Planning boosted its stake in shares of Exelixis by 0.8% in the second quarter. Creative Planning now owns 71,700 shares of the biotechnology company’s stock worth $1,611,000 after acquiring an additional 548 shares during the period. Signaturefd LLC grew its position in shares of Exelixis by 12.2% during the third quarter. Signaturefd LLC now owns 6,138 shares of the biotechnology company’s stock worth $159,000 after purchasing an additional 666 shares in the last quarter. Finally, Tidal Investments LLC raised its stake in Exelixis by 10.0% during the 1st quarter. Tidal Investments LLC now owns 9,710 shares of the biotechnology company’s stock valued at $230,000 after purchasing an additional 886 shares during the period. 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.