Exelixis (NASDAQ:EXEL) Price Target Raised to $38.00

Exelixis (NASDAQ:EXEL) had its price target lifted by Truist Financial from $33.00 to $38.00 in a research note published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the biotechnology company’s stock.

EXEL has been the subject of a number of other research reports. HC Wainwright reissued a “buy” rating and issued a $29.00 target price on shares of Exelixis in a research report on Wednesday, September 18th. BMO Capital Markets increased their price objective on shares of Exelixis from $29.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday. JMP Securities reaffirmed a “market outperform” rating and issued a $29.00 target price on shares of Exelixis in a research report on Friday, October 11th. The Goldman Sachs Group raised Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. Finally, Royal Bank of Canada lifted their price objective on Exelixis from $30.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Exelixis presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.44.

Exelixis Stock Performance

Shares of NASDAQ EXEL opened at $32.44 on Wednesday. The firm’s 50 day moving average price is $26.81 and its 200-day moving average price is $24.15. Exelixis has a 52-week low of $19.20 and a 52-week high of $33.32. The company has a market cap of $9.25 billion, a PE ratio of 27.97, a P/E/G ratio of 0.61 and a beta of 0.54.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.44. The business had revenue of $637.18 million for the quarter, compared to analysts’ expectations of $468.21 million. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. On average, analysts forecast that Exelixis will post 1.58 earnings per share for the current fiscal year.

Insider Activity at Exelixis

In other Exelixis news, EVP Jeffrey Hessekiel sold 25,000 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $28.39, for a total value of $709,750.00. Following the completion of the sale, the executive vice president now owns 580,325 shares in the company, valued at approximately $16,475,426.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Christopher J. Senner sold 125,000 shares of the company’s stock in a transaction 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 owns 721,680 shares in the company, valued at approximately $19,622,479.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey Hessekiel sold 25,000 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $28.39, for a total transaction of $709,750.00. Following the transaction, the executive vice president now directly owns 580,325 shares of the company’s stock, valued at $16,475,426.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 352,858 shares of company stock worth $9,349,879. 2.85% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in Exelixis during the third quarter valued at approximately $30,000. Park Place Capital Corp purchased a new stake in shares of Exelixis during the 2nd quarter worth approximately $45,000. GAMMA Investing LLC boosted its position in shares of Exelixis by 107.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 1,041 shares during the last quarter. EntryPoint Capital LLC grew its holdings 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 in the last quarter. Finally, Essex Investment Management Co. LLC purchased a new position in shares of Exelixis in the third quarter valued at $74,000. 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.