Exelixis (NASDAQ:EXEL) Stock Price Expected to Rise, Citigroup Analyst Says

Exelixis (NASDAQ:EXEL) had its target price raised by stock analysts at Citigroup from $38.00 to $45.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Citigroup’s price objective indicates a potential upside of 35.61% from the company’s previous close.

A number of other research firms have also issued reports on EXEL. The Goldman Sachs Group upgraded shares of Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. Wells Fargo & Company upped their target price on shares of Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Truist Financial upped their target price on shares of Exelixis from $42.00 to $43.00 and gave the company a “buy” rating in a report on Monday, January 27th. HC Wainwright restated a “buy” rating and issued a $40.00 target price on shares of Exelixis in a report on Monday, January 27th. Finally, Oppenheimer lowered shares of Exelixis from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $41.00 to $33.00 in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $37.00.

Exelixis Stock Performance

EXEL traded up $0.37 during trading on Wednesday, hitting $33.18. The stock had a trading volume of 2,600,836 shares, compared to its average volume of 2,497,740. Exelixis has a twelve month low of $20.14 and a twelve month high of $37.59. The firm has a market capitalization of $9.48 billion, a P/E ratio of 21.27, a PEG ratio of 0.63 and a beta of 0.53. The company’s 50-day moving average price is $34.30 and its 200 day moving average price is $30.71.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a return on equity of 20.99% and a net margin of 22.43%. As a group, equities analysts expect that Exelixis will post 1.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Exelixis news, EVP Patrick J. Haley sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $35.27, for a total transaction of $352,700.00. Following the completion of the sale, the executive vice president now directly owns 278,665 shares in the company, valued at approximately $9,828,514.55. This trade represents a 3.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the sale, the executive vice president now owns 486,059 shares of the company’s stock, valued at $17,823,783.53. The trade was a 10.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,588 shares of company stock worth $3,981,864. 2.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Exelixis

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Exelixis by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 29,429,252 shares of the biotechnology company’s stock valued at $979,994,000 after buying an additional 121,750 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Exelixis by 104.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,159,395 shares of the biotechnology company’s stock valued at $105,208,000 after buying an additional 1,613,482 shares during the last quarter. Norges Bank acquired a new stake in shares of Exelixis during the 4th quarter valued at about $94,867,000. FMR LLC lifted its holdings in shares of Exelixis by 6.1% during the 3rd quarter. FMR LLC now owns 2,462,072 shares of the biotechnology company’s stock valued at $63,891,000 after buying an additional 140,568 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Exelixis by 20.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 2,156,996 shares of the biotechnology company’s stock valued at $71,828,000 after buying an additional 366,141 shares during the last quarter. 85.27% of the stock is currently 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.