Exelixis (NASDAQ:EXEL) Price Target Increased to $34.00 by Analysts at TD Cowen

Exelixis (NASDAQ:EXEL) had its price target increased by TD Cowen from $27.00 to $34.00 in a report issued on Monday, Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock.

EXEL has been the subject of a number of other research reports. Royal Bank of Canada boosted their target price on shares of Exelixis from $30.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. UBS Group started coverage on Exelixis in a research report on Thursday, September 19th. They set a “neutral” rating and a $30.00 price objective for the company. Morgan Stanley lifted their price target on Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, October 11th. Truist Financial reissued a “buy” rating and issued a $33.00 price objective (up from $32.00) on shares of Exelixis in a research report on Thursday, August 8th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $29.00 target price on shares of Exelixis in a research report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Exelixis currently has an average rating of “Moderate Buy” and a consensus target price of $29.57.

Exelixis Price Performance

Exelixis stock opened at $28.66 on Monday. Exelixis has a one year low of $18.64 and a one year high of $29.75. The company’s fifty day moving average price is $26.42 and its two-hundred day moving average price is $23.83. The company has a market capitalization of $8.69 billion, a price-to-earnings ratio of 44.78, a PEG ratio of 0.54 and a beta of 0.54.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.44. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. The firm had revenue of $637.18 million during the quarter, compared to analyst estimates of $468.21 million. As a group, sell-side analysts anticipate that Exelixis will post 1.59 earnings per share for the current year.

Insider Buying and Selling at Exelixis

In related news, 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 value of $3,398,750.00. Following the sale, the chief financial officer now owns 721,680 shares of the company’s stock, valued at $19,622,479.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Christopher J. Senner sold 125,000 shares of Exelixis stock in a transaction dated Friday, August 9th. The shares were 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 of the company’s stock, valued at $19,622,479.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Dana Aftab sold 95,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total transaction of $2,375,000.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 327,858 shares of company stock valued at $8,640,129. 2.85% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EXEL. Signaturefd LLC increased its position in Exelixis by 12.2% in the 3rd quarter. Signaturefd LLC now owns 6,138 shares of the biotechnology company’s stock valued at $159,000 after acquiring an additional 666 shares in the last quarter. Raymond James & Associates grew its stake in shares of Exelixis by 118.2% during the third quarter. Raymond James & Associates now owns 239,661 shares of the biotechnology company’s stock valued at $6,219,000 after purchasing an additional 129,805 shares during the last quarter. Friedenthal Financial acquired a new stake in shares of Exelixis in the third quarter valued at approximately $744,000. Blue Trust Inc. increased its holdings in shares of Exelixis by 54.2% in the third quarter. Blue Trust Inc. now owns 6,094 shares of the biotechnology company’s stock valued at $158,000 after purchasing an additional 2,141 shares in the last quarter. Finally, Inspire Advisors LLC raised its position in Exelixis by 24.9% in the 3rd quarter. Inspire Advisors LLC now owns 25,207 shares of the biotechnology company’s stock worth $654,000 after purchasing an additional 5,023 shares during the last quarter. 85.27% of the stock is owned by 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.