Exelixis (NASDAQ:EXEL) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Exelixis (NASDAQ:EXEL) had its target price upped by BMO Capital Markets from $29.00 to $36.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the biotechnology company’s stock.

Other research analysts have also issued research reports about the stock. Bank of America upped their price target on shares of Exelixis from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. TD Cowen upped their target price on Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, October 21st. The Goldman Sachs Group upgraded Exelixis to a “strong sell” rating in a research note on Tuesday, October 15th. Royal Bank of Canada increased their price objective on Exelixis from $30.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Truist Financial reissued a “buy” rating and issued a $33.00 target price (up previously from $32.00) on shares of Exelixis in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.44.

Exelixis Trading Up 2.8 %

Shares of NASDAQ EXEL opened at $34.12 on Wednesday. The company has a market capitalization of $9.74 billion, a P/E ratio of 21.87, a P/E/G ratio of 0.69 and a beta of 0.54. Exelixis has a 12 month low of $19.20 and a 12 month high of $34.45. The stock has a 50 day moving average of $27.13 and a 200-day moving average of $24.29.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The firm had revenue of $539.50 million during the quarter, compared to analysts’ expectations of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.10 earnings per share. Analysts predict that Exelixis will post 1.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Dana Aftab sold 1,162 shares of Exelixis stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total value of $36,486.80. Following the transaction, the executive vice president now owns 498,945 shares in the company, valued at approximately $15,666,873. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Dana Aftab sold 1,162 shares of Exelixis stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total transaction of $36,486.80. Following the sale, the executive vice president now directly owns 498,945 shares of the company’s stock, valued at approximately $15,666,873. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Christopher J. Senner sold 125,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were 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 of the company’s stock, valued at approximately $19,622,479.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 354,020 shares of company stock worth $9,386,366 over the last three months. Insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Trust Direct Indexing L.P. bought a new position in Exelixis in the first quarter valued at about $250,000. Commonwealth Equity Services LLC increased its stake in shares of Exelixis by 4.1% in the first quarter. Commonwealth Equity Services LLC now owns 128,033 shares of the biotechnology company’s stock valued at $3,038,000 after buying an additional 5,037 shares during the period. Smith Group Asset Management LLC bought a new position in Exelixis in the 1st quarter valued at approximately $228,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Exelixis by 3.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,771 shares of the biotechnology company’s stock worth $778,000 after buying an additional 1,301 shares during the period. Finally, Janney Montgomery Scott LLC grew its holdings in Exelixis by 6.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 60,746 shares of the biotechnology company’s stock worth $1,442,000 after acquiring an additional 3,510 shares during the last quarter. 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.