Exelixis (NASDAQ:EXEL) Price Target Raised to $41.00

Exelixis (NASDAQ:EXEL) had its target price upped by equities researchers at JMP Securities from $34.00 to $41.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “market outperform” rating on the biotechnology company’s stock. JMP Securities’ price objective suggests a potential upside of 11.17% from the company’s current price.

A number of other brokerages have also commented on EXEL. Truist Financial boosted their price objective on Exelixis from $33.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. TD Cowen upped their target price on Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a report on Monday, October 21st. Guggenheim upped their price target on Exelixis from $33.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. HC Wainwright raised their price objective on shares of Exelixis from $29.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Finally, Stifel Nicolaus upped their target price on shares of Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.75.

Exelixis Stock Up 3.5 %

NASDAQ:EXEL traded up $1.23 on Wednesday, hitting $36.88. The stock had a trading volume of 411,468 shares, compared to its average volume of 2,157,794. The company has a market cap of $10.53 billion, a PE ratio of 23.64, a P/E/G ratio of 0.88 and a beta of 0.53. Exelixis has a 52 week low of $20.01 and a 52 week high of $36.97. The business’s fifty day moving average is $34.90 and its 200 day moving average is $28.99.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results 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 net margin of 22.43% and a return on equity of 20.99%. The business had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. During the same quarter last year, the firm posted $0.10 EPS. Exelixis’s revenue was up 14.3% compared to the same quarter last year. Equities analysts predict that Exelixis will post 1.69 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Jeffrey Hessekiel sold 25,000 shares of the company’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 owns 580,325 shares in the company, valued at $16,475,426.75. This represents a 4.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director George Poste sold 30,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $34.00, for a total transaction of $1,020,000.00. Following the completion of the transaction, the director now owns 169,020 shares of the company’s stock, valued at $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. Over the last ninety days, insiders sold 314,736 shares of company stock valued at $10,849,110. Insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

Several institutional investors and hedge funds have recently bought and sold shares of EXEL. Victory Capital Management Inc. grew its holdings in shares of Exelixis by 15.2% during the 2nd quarter. Victory Capital Management Inc. now owns 116,806 shares of the biotechnology company’s stock worth $2,625,000 after acquiring an additional 15,368 shares during the period. Federated Hermes Inc. boosted its position in shares of Exelixis by 1.0% during the second quarter. Federated Hermes Inc. now owns 227,909 shares of the biotechnology company’s stock valued at $5,121,000 after purchasing an additional 2,333 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Exelixis by 3.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 465,048 shares of the biotechnology company’s stock worth $10,450,000 after purchasing an additional 14,443 shares during the period. Dimensional Fund Advisors LP raised its holdings in Exelixis by 7.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,137,201 shares of the biotechnology company’s stock worth $115,434,000 after purchasing an additional 349,837 shares in the last quarter. Finally, Edgestream Partners L.P. lifted its position in Exelixis by 128.6% during the second quarter. Edgestream Partners L.P. now owns 114,785 shares of the biotechnology company’s stock valued at $2,579,000 after buying an additional 64,571 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.