Exelixis (NASDAQ:EXEL) Stock Price Expected to Rise, Citigroup Analyst Says

Exelixis (NASDAQ:EXEL) had its price target upped by stock analysts at Citigroup from $38.00 to $45.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Citigroup’s price target indicates a potential upside of 35.61% from the company’s current price.

EXEL has been the topic of a number of other reports. Oppenheimer cut Exelixis from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $41.00 to $33.00 in a research report on Friday, January 24th. BMO Capital Markets cut Exelixis from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $36.00 to $40.00 in a research report on Friday, December 20th. StockNews.com cut Exelixis from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Royal Bank of Canada restated an “outperform” rating and set a $34.00 price objective on shares of Exelixis in a research report on Wednesday, October 30th. Finally, Piper Sandler boosted their price objective on Exelixis from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Exelixis has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Exelixis Stock Up 1.1 %

NASDAQ EXEL traded up $0.37 during trading on Wednesday, hitting $33.18. The company’s stock had a trading volume of 2,600,836 shares, compared to its average volume of 2,497,740. The firm has a 50 day moving average price of $34.30 and a 200 day moving average price of $30.71. The firm has a market cap of $9.48 billion, a P/E ratio of 21.27, a price-to-earnings-growth ratio of 0.63 and a beta of 0.53. Exelixis has a 52 week low of $20.14 and a 52 week high of $37.59.

Exelixis (NASDAQ:EXEL) last issued its quarterly 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%. On average, equities analysts expect that Exelixis will post 1.74 earnings per share for the current year.

Insider Transactions at Exelixis

In related news, EVP Jeffrey Hessekiel sold 60,000 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the transaction, the executive vice president now owns 486,059 shares in the company, valued at $17,823,783.53. This trade represents a 10.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Patrick J. Haley sold 41,588 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 288,665 shares in the company, valued at $9,918,529.40. The trade was a 12.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,588 shares of company stock worth $3,981,864. Insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Hedge funds have recently added to or reduced their stakes in the stock. Seizert Capital Partners LLC lifted its stake in Exelixis by 8.0% in the third quarter. Seizert Capital Partners LLC now owns 469,940 shares of the biotechnology company’s stock valued at $12,195,000 after buying an additional 34,875 shares during the period. Los Angeles Capital Management LLC raised its position in shares of Exelixis by 124.0% during the third quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock worth $46,473,000 after purchasing an additional 991,494 shares during the period. China Universal Asset Management Co. Ltd. raised its position in shares of Exelixis by 60.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 54,863 shares of the biotechnology company’s stock worth $1,424,000 after purchasing an additional 20,641 shares during the period. Tri Ri Asset Management Corp acquired a new stake in shares of Exelixis during the third quarter worth about $4,396,000. Finally, CWA Asset Management Group LLC acquired a new stake in shares of Exelixis during the third quarter worth about $577,000. Institutional investors and hedge funds 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.