Exelixis (NASDAQ:EXEL) Price Target Raised to $36.00

Exelixis (NASDAQ:EXEL) had its price target boosted by Wells Fargo & Company from $32.00 to $36.00 in a report published on Wednesday, Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

Several other equities analysts also recently weighed in on the company. Truist Financial raised their price target on Exelixis from $33.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday. Morgan Stanley lifted their target price on shares of Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. UBS Group assumed coverage on shares of Exelixis in a report on Thursday, September 19th. They set a “neutral” rating and a $30.00 price target on the stock. Royal Bank of Canada upped their price objective on Exelixis from $30.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group upgraded Exelixis to a “strong sell” rating in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.44.

Exelixis Trading Up 2.8 %

Shares of Exelixis stock opened at $34.12 on Wednesday. Exelixis has a 12 month low of $19.20 and a 12 month high of $34.45. The firm has a market capitalization of $9.74 billion, a P/E ratio of 21.87, a P/E/G ratio of 0.69 and a beta of 0.54. The business has a fifty day simple moving average of $27.13 and a two-hundred day simple moving average of $24.29.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The business had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $490.31 million. During the same quarter in the prior year, the company earned $0.10 earnings per share. The business’s revenue was up 14.3% compared to the same quarter last year. Analysts predict that Exelixis will post 1.59 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Dana Aftab sold 95,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total value of $2,375,000.00. Following the transaction, the executive vice president now directly owns 520,990 shares in the company, valued at $13,024,750. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Exelixis news, EVP Dana Aftab sold 95,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total value of $2,375,000.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Christopher J. Senner sold 125,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was 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 directly owns 721,680 shares in the company, valued at $19,622,479.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 354,020 shares of company stock valued at $9,386,366. Company insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

Hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in Exelixis in the 3rd quarter worth approximately $30,000. Park Place Capital Corp purchased a new stake in Exelixis during the second quarter valued at $45,000. GAMMA Investing LLC lifted its position in Exelixis by 107.9% during the second 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 during the last quarter. EntryPoint Capital LLC grew its stake in shares of Exelixis by 537.2% in the 1st quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock worth $49,000 after buying an additional 1,746 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Exelixis in the 3rd quarter worth $61,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

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.