Stifel Nicolaus Increases Exelixis (NASDAQ:EXEL) Price Target to $36.00

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

A number of other research firms have also issued reports on EXEL. JMP Securities reaffirmed a “market outperform” rating and set a $41.00 target price on shares of Exelixis in a report on Thursday, January 23rd. Guggenheim reissued a “buy” rating and issued a $42.00 target price on shares of Exelixis in a research note on Wednesday. Stephens reaffirmed an “equal weight” rating and issued a $29.00 price target on shares of Exelixis in a report on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $34.00 price objective on shares of Exelixis in a research note on Wednesday, October 30th. Finally, Truist Financial lifted their price target on Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, January 27th. One 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Exelixis Price Performance

NASDAQ EXEL opened at $32.80 on Wednesday. The stock’s fifty day moving average price is $34.24 and its 200 day moving average price is $30.72. The company has a market cap of $9.37 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 0.63 and a beta of 0.53. Exelixis has a 1 year low of $20.14 and a 1 year high of $37.59.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a return on equity of 20.99% and a net margin of 22.43%. Research analysts expect that Exelixis will post 1.74 earnings per share for the current year.

Insider Transactions at Exelixis

In related news, EVP Patrick J. Haley sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $35.27, for a total transaction of $352,700.00. Following the completion of the sale, the executive vice president now owns 278,665 shares in the company, valued at $9,828,514.55. The trade was a 3.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the transaction, the executive vice president now directly owns 486,059 shares of the company’s stock, valued at $17,823,783.53. This trade represents a 10.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 111,588 shares of company stock valued at $3,981,864. Insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. V Square Quantitative Management LLC purchased a new stake in Exelixis in the third quarter valued at $30,000. USA Financial Formulas purchased a new stake in shares of Exelixis in the 4th quarter valued at about $32,000. Principal Securities Inc. boosted its position in shares of Exelixis by 62.8% in the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 373 shares during the period. Kestra Investment Management LLC purchased a new position in Exelixis during the 4th quarter worth approximately $39,000. Finally, Brooklyn Investment Group acquired a new position in Exelixis during the third quarter worth approximately $42,000. 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.