HC Wainwright Issues Positive Forecast for Exelixis (NASDAQ:EXEL) Stock Price

Exelixis (NASDAQ:EXEL) had its target price upped by equities research analysts at HC Wainwright from $29.00 to $40.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price suggests a potential upside of 15.94% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Morgan Stanley increased their price objective 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. The Goldman Sachs Group raised Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. TD Cowen increased their price objective on Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, October 21st. JMP Securities restated a “market outperform” rating and issued a $29.00 target price on shares of Exelixis in a research report on Friday, October 11th. Finally, BMO Capital Markets lowered Exelixis from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $36.00 to $40.00 in a research report on Friday, December 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.69.

Exelixis Stock Up 0.8 %

Shares of NASDAQ EXEL opened at $34.50 on Friday. The firm’s 50-day moving average price is $34.84 and its two-hundred day moving average price is $28.71. Exelixis has a 52-week low of $20.01 and a 52-week high of $36.97. The stock has a market capitalization of $9.85 billion, a P/E ratio of 22.12, a P/E/G ratio of 0.88 and a beta of 0.53.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The business had revenue of $539.50 million for the quarter, compared to the consensus estimate of $490.31 million. During the same quarter last year, the business posted $0.10 EPS. The business’s revenue was up 14.3% on a year-over-year basis. As a group, equities research analysts expect that Exelixis will post 1.69 earnings per share for the current year.

Insider Buying and Selling at Exelixis

In other news, EVP Dana Aftab sold 1,162 shares of Exelixis stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total value of $36,486.80. Following the transaction, the executive vice president now directly owns 498,945 shares of the company’s stock, valued at $15,666,873. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction of $2,200,200.00. Following the completion of the sale, the executive vice president now owns 486,059 shares of the company’s stock, valued at approximately $17,823,783.53. This trade represents a 10.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 314,736 shares of company stock valued at $10,849,110. Corporate insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

Large investors have recently added to or reduced their stakes in the company. Covestor Ltd boosted its stake in shares of Exelixis by 5.7% during the 3rd quarter. Covestor Ltd now owns 6,335 shares of the biotechnology company’s stock worth $164,000 after acquiring an additional 341 shares in the last quarter. Cornercap Investment Counsel Inc. boosted its position in Exelixis by 1.1% during the second quarter. Cornercap Investment Counsel Inc. now owns 50,497 shares of the biotechnology company’s stock worth $1,135,000 after purchasing an additional 539 shares during the period. Creative Planning grew its holdings in Exelixis by 0.8% during the second quarter. Creative Planning now owns 71,700 shares of the biotechnology company’s stock valued at $1,611,000 after purchasing an additional 548 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Exelixis by 3.2% in the third quarter. Advisors Asset Management Inc. now owns 19,853 shares of the biotechnology company’s stock valued at $515,000 after purchasing an additional 609 shares during the period. Finally, Signaturefd LLC lifted its stake in shares of Exelixis by 12.2% in the third quarter. Signaturefd LLC now owns 6,138 shares of the biotechnology company’s stock worth $159,000 after buying an additional 666 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

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.