Exelixis (NASDAQ:EXEL) Given New $41.00 Price Target at Oppenheimer

Exelixis (NASDAQ:EXEL) had its price target boosted by research analysts at Oppenheimer from $38.00 to $41.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the biotechnology company’s stock. Oppenheimer’s target price indicates a potential upside of 11.14% from the company’s current price.

A number of other analysts also recently commented on the company. TD Cowen boosted their target price on Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Bank of America downgraded Exelixis from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $35.00 to $39.00 in a research note on Tuesday, December 17th. Morgan Stanley increased their price objective on shares of Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. JMP Securities lifted their target price on shares of Exelixis from $34.00 to $41.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Finally, Guggenheim increased their price target on shares of Exelixis from $33.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Exelixis presently has an average rating of “Moderate Buy” and a consensus target price of $35.50.

Exelixis Trading Down 1.0 %

Shares of NASDAQ:EXEL traded down $0.38 on Thursday, reaching $36.89. 551,320 shares of the company were exchanged, compared to its average volume of 2,462,530. The company has a 50-day moving average of $34.95 and a 200-day moving average of $29.14. The firm has a market cap of $10.54 billion, a price-to-earnings ratio of 23.65, a price-to-earnings-growth ratio of 0.87 and a beta of 0.53. Exelixis has a 1-year low of $20.01 and a 1-year high of $37.59.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The company had revenue of $539.50 million for the quarter, compared to analyst estimates of $490.31 million. During the same period in the prior year, the business posted $0.10 earnings per share. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, analysts forecast that Exelixis will post 1.7 earnings per share for the current year.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 41,588 shares of Exelixis stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.36, for a total value of $1,428,963.68. Following the transaction, the executive vice president now owns 288,665 shares in the company, valued at $9,918,529.40. This trade represents a 12.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeffrey Hessekiel sold 25,000 shares of the business’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 sale, the executive vice president now directly owns 580,325 shares of the company’s stock, valued at $16,475,426.75. This represents a 4.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 314,736 shares of company stock worth $10,849,110 in the last 90 days. 2.85% of the stock is owned by company insiders.

Hedge Funds Weigh In On Exelixis

A number of large investors have recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased its position in shares of Exelixis by 18.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,890 shares of the biotechnology company’s stock worth $63,000 after acquiring an additional 290 shares in the last quarter. UMB Bank n.a. boosted its position in Exelixis by 68.4% during the 4th quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 553 shares during the period. HB Wealth Management LLC lifted its stake in shares of Exelixis by 26.6% during the fourth quarter. HB Wealth Management LLC now owns 20,936 shares of the biotechnology company’s stock worth $697,000 after purchasing an additional 4,394 shares in the last quarter. Merit Financial Group LLC purchased a new stake in shares of Exelixis in the fourth quarter worth about $437,000. Finally, Tallon Kerry Patrick acquired a new stake in shares of Exelixis in the fourth quarter valued at about $2,619,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

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.