Analysts Set Exelixis, Inc. (NASDAQ:EXEL) Price Target at $27.67

Exelixis, Inc. (NASDAQ:EXEL) has been given an average rating of “Moderate Buy” by the fifteen ratings firms that are covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $27.67.

Several equities research analysts have recently commented on the company. Oppenheimer restated an “outperform” rating and set a $29.00 price objective on shares of Exelixis in a report on Tuesday, July 30th. StockNews.com upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $29.00 price objective on shares of Exelixis in a research note on Friday, September 20th. HC Wainwright reiterated a “buy” rating and set a $29.00 price objective on shares of Exelixis in a report on Wednesday, September 18th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $27.00 target price on shares of Exelixis in a report on Thursday.

Exelixis Stock Down 1.1 %

Shares of EXEL stock opened at $25.96 on Friday. The firm has a 50 day moving average of $25.56 and a 200-day moving average of $23.48. The company has a market cap of $7.87 billion, a price-to-earnings ratio of 40.56, a price-to-earnings-growth ratio of 0.56 and a beta of 0.54. Exelixis has a 52 week low of $18.64 and a 52 week high of $27.83.

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

Insider Activity

In other news, EVP Dana Aftab sold 95,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $25.00, for a total transaction of $2,375,000.00. Following the completion of the sale, the executive vice president now owns 520,990 shares in the company, valued at approximately $13,024,750. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Christopher J. Senner sold 125,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Dana Aftab sold 95,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 520,990 shares of the company’s stock, valued at $13,024,750. The disclosure for this sale can be found here. Insiders sold a total of 327,858 shares of company stock valued at $8,640,129 in the last ninety days. 2.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Exelixis

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sanctuary Advisors LLC bought a new stake in shares of Exelixis during the 2nd quarter valued at $652,000. Creative Planning increased its position in shares of 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 buying an additional 548 shares during the period. Algert Global LLC lifted its holdings in shares of Exelixis by 7.6% in the second quarter. Algert Global LLC now owns 276,352 shares of the biotechnology company’s stock worth $6,210,000 after buying an additional 19,559 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Exelixis by 62.1% in the second quarter. Mackenzie Financial Corp now owns 433,311 shares of the biotechnology company’s stock valued at $9,736,000 after acquiring an additional 166,057 shares during the period. Finally, Deerfield Management Company L.P. Series C grew its stake in Exelixis by 137.1% during the second quarter. Deerfield Management Company L.P. Series C now owns 20,816 shares of the biotechnology company’s stock valued at $468,000 after acquiring an additional 12,036 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

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.