Piper Sandler Issues Positive Forecast for Exelixis (NASDAQ:EXEL) Stock Price

Exelixis (NASDAQ:EXEL) had its price objective boosted by Piper Sandler from $33.00 to $36.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the biotechnology company’s stock.

Other equities research analysts have also issued reports about the stock. StockNews.com upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 13th. Bank of America raised their price target on Exelixis from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $34.00 price objective on shares of Exelixis in a research report on Wednesday. Morgan Stanley raised their target price on Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, October 11th. Finally, Stifel Nicolaus upped their price target on Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, five have given 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 company has an average rating of “Moderate Buy” and a consensus price target of $31.44.

Exelixis Trading Up 2.8 %

NASDAQ:EXEL opened at $34.12 on Wednesday. The stock has a fifty day moving average price of $27.13 and a 200 day moving average price of $24.29. Exelixis has a 12-month low of $19.20 and a 12-month high of $34.45. The firm has a market cap of $9.74 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 0.89 and a beta of 0.51.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data 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 return on equity of 20.99% and a net margin of 22.43%. The business had revenue of $539.50 million during the quarter, compared to analysts’ expectations of $490.31 million. During the same quarter last year, the business posted $0.10 EPS. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. Equities analysts forecast that Exelixis will post 1.59 EPS for the current year.

Insider Activity at Exelixis

In other Exelixis news, 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 approximately $13,024,750. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director George Poste sold 33,725 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $26.89, for a total transaction of $906,865.25. Following the completion of the transaction, the director now directly owns 199,020 shares of the company’s stock, valued at $5,351,647.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Dana Aftab sold 95,000 shares of Exelixis stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $25.00, for a total value of $2,375,000.00. Following the completion of the sale, the executive vice president now directly owns 520,990 shares in the company, valued at $13,024,750. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 354,020 shares of company stock worth $9,386,366 in the last quarter. Company insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

Several hedge funds have recently modified their holdings of EXEL. V Square Quantitative Management LLC purchased a new position in Exelixis in the third quarter worth $30,000. Park Place Capital Corp acquired a new position in shares of Exelixis during the 2nd quarter worth $45,000. GAMMA Investing LLC increased its holdings in shares of Exelixis by 107.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 1,041 shares in the last quarter. EntryPoint Capital LLC lifted its stake in shares of Exelixis by 537.2% in the first quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock valued at $49,000 after purchasing an additional 1,746 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in Exelixis during the third quarter worth about $61,000. 85.27% of the stock is owned by institutional investors and hedge funds.

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.