Exelixis (NASDAQ:EXEL) PT Raised to $34.00

Exelixis (NASDAQ:EXEL) had its price target boosted by Royal Bank of Canada from $30.00 to $34.00 in a research report released on Wednesday, MarketBeat.com reports. Royal Bank of Canada currently has an outperform rating on the biotechnology company’s stock.

EXEL has been the subject of several other reports. Bank of America increased their price target on shares of Exelixis from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday. Morgan Stanley increased their target price on Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. StockNews.com upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 13th. Oppenheimer reiterated an “outperform” rating and issued a $29.00 price objective on shares of Exelixis in a research report on Tuesday, July 30th. Finally, HC Wainwright restated a “buy” rating and set a $29.00 target price on shares of Exelixis in a research report on Wednesday, September 18th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Exelixis presently has an average rating of “Moderate Buy” and a consensus price target of $29.07.

Exelixis Trading Up 3.0 %

NASDAQ:EXEL opened at $29.35 on Wednesday. Exelixis has a 12-month low of $18.64 and a 12-month high of $29.60. The stock’s 50 day simple moving average is $26.35 and its 200-day simple moving average is $23.76. The firm has a market cap of $8.90 billion, a P/E ratio of 45.86, a PEG ratio of 0.54 and a beta of 0.54.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.44. Exelixis had a net margin of 17.38% and a return on equity of 15.54%. The company had revenue of $637.18 million for the quarter, compared to analysts’ expectations of $468.21 million. Research analysts forecast that Exelixis will post 1.59 EPS for the current fiscal year.

Insider Buying and Selling at Exelixis

In related news, CFO Christopher J. Senner sold 125,000 shares of Exelixis stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $27.19, for a total transaction of $3,398,750.00. Following the completion of the transaction, the chief financial officer now directly owns 721,680 shares in the company, valued at $19,622,479.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Exelixis news, EVP Dana Aftab sold 95,000 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 520,990 shares of the company’s stock, valued at $13,024,750. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher J. Senner sold 125,000 shares of Exelixis stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $27.19, for a total transaction of $3,398,750.00. Following the sale, the chief financial officer now owns 721,680 shares of the company’s stock, valued at approximately $19,622,479.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 327,858 shares of company stock valued at $8,640,129 over the last quarter. Corporate insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

A number of hedge funds have recently bought and sold shares of EXEL. Farallon Capital Management LLC lifted 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 period. Renaissance Technologies LLC increased its stake in Exelixis by 0.4% in the second quarter. Renaissance Technologies LLC now owns 15,163,066 shares of the biotechnology company’s stock valued at $340,714,000 after purchasing an additional 61,350 shares during the last quarter. LSV Asset Management lifted its position in Exelixis by 107.7% during the second quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock worth $129,511,000 after buying an additional 2,989,021 shares during the period. Dimensional Fund Advisors LP boosted its stake in Exelixis by 7.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,137,201 shares of the biotechnology company’s stock worth $115,434,000 after buying an additional 349,837 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in Exelixis by 12.7% in the 2nd quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock valued at $73,425,000 after buying an additional 370,199 shares during the period. Institutional investors and hedge funds 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.