Exelixis (NASDAQ:EXEL) Given New $36.00 Price Target at Stifel Nicolaus

Exelixis (NASDAQ:EXEL) had its price objective raised by Stifel Nicolaus from $30.00 to $36.00 in a report released on Wednesday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the biotechnology company’s stock.

Other analysts have also issued research reports about the company. HC Wainwright reiterated a “buy” rating and set a $40.00 target price on shares of Exelixis in a report on Monday, January 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $34.00 price objective on shares of Exelixis in a research note on Wednesday, October 30th. Morgan Stanley raised shares of Exelixis from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $30.00 to $40.00 in a research note on Monday, January 27th. Stephens restated an “equal weight” rating and set a $29.00 target price on shares of Exelixis in a report on Wednesday. Finally, Oppenheimer downgraded shares of Exelixis from an “outperform” rating to a “market perform” rating and cut their target price for the company from $41.00 to $33.00 in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $37.00.

Exelixis Stock Down 0.0 %

NASDAQ:EXEL opened at $32.80 on Wednesday. The company has a market cap of $9.37 billion, a P/E ratio of 21.03, a price-to-earnings-growth ratio of 0.63 and a beta of 0.53. Exelixis has a twelve month low of $20.14 and a twelve month high of $37.59. The business has a 50 day moving average price of $34.24 and a two-hundred day moving average price of $30.72.

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%. As a group, analysts anticipate that Exelixis will post 1.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Patrick J. Haley sold 41,588 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.36, for a total transaction of $1,428,963.68. Following the completion of the sale, the executive vice president now owns 288,665 shares in the company, valued at approximately $9,918,529.40. This represents a 12.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the business’s stock in a transaction on Friday, November 29th. The shares were 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 of the company’s stock, valued at approximately $17,823,783.53. The trade was a 10.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,588 shares of company stock valued at $3,981,864 over the last 90 days. Insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Several large investors have recently added to or reduced their stakes in the company. Hurley Capital LLC purchased a new stake in Exelixis during the 4th quarter valued at approximately $68,000. Envestnet Asset Management Inc. grew its position in Exelixis by 17.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 200,228 shares of the biotechnology company’s stock valued at $6,668,000 after acquiring an additional 29,892 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its stake in Exelixis by 80.2% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 151,153 shares of the biotechnology company’s stock worth $5,033,000 after buying an additional 67,256 shares during the period. Resona Asset Management Co. Ltd. bought a new stake in shares of Exelixis during the fourth quarter valued at approximately $1,558,000. Finally, Wells Fargo & Company MN lifted its stake in Exelixis by 1,637.9% in the fourth quarter. Wells Fargo & Company MN now owns 746,286 shares of the biotechnology company’s stock worth $24,851,000 after acquiring an additional 703,343 shares during the period. Hedge funds and other 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.