Exelixis (NASDAQ:EXEL) Given New $29.00 Price Target at Barclays

Exelixis (NASDAQ:EXEL) had its price target boosted by Barclays from $25.00 to $29.00 in a research note released on Thursday,Benzinga reports. Barclays currently has an equal weight rating on the biotechnology company’s stock.

A number of other brokerages also recently weighed in on EXEL. Truist Financial boosted their target price on shares of Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, January 27th. TD Cowen raised their target price on shares of Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, October 21st. StockNews.com downgraded Exelixis from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Piper Sandler upped their price objective on shares of Exelixis from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, JMP Securities reissued a “market outperform” rating and issued a $41.00 price target on shares of Exelixis in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.24.

Exelixis Price Performance

EXEL stock opened at $34.49 on Thursday. The business has a 50-day moving average of $34.21 and a 200-day moving average of $30.75. Exelixis has a fifty-two week low of $20.14 and a fifty-two week high of $37.59. The stock has a market capitalization of $9.85 billion, a P/E ratio of 22.11, a P/E/G ratio of 0.63 and a beta of 0.53.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a return on equity of 20.99% and a net margin of 22.43%. Equities analysts expect that Exelixis will post 1.74 EPS for the current year.

Insider Activity at Exelixis

In related news, EVP Patrick J. Haley sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $35.27, for a total value of $352,700.00. Following the completion of the transaction, the executive vice president now owns 278,665 shares in the company, valued at $9,828,514.55. This trade represents a 3.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the sale, the executive vice president now directly owns 486,059 shares in the company, 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 three months, insiders have sold 111,588 shares of company stock valued at $3,981,864. 2.85% of the stock is owned by insiders.

Institutional Trading of Exelixis

Institutional investors have recently modified their holdings of the business. Alpha DNA Investment Management LLC acquired a new position in shares of Exelixis in the fourth quarter worth approximately $479,000. NewEdge Advisors LLC grew its stake in Exelixis by 113.8% during the fourth quarter. NewEdge Advisors LLC now owns 27,908 shares of the biotechnology company’s stock worth $929,000 after purchasing an additional 14,857 shares during the period. EAM Global Investors LLC bought a new stake in shares of Exelixis in the 4th quarter valued at $3,615,000. EAM Investors LLC bought a new position in Exelixis during the fourth quarter worth $5,920,000. Finally, United Capital Financial Advisors LLC acquired a new stake in Exelixis in the fourth quarter worth $207,000. Institutional investors 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.