Exelixis, Inc. (NASDAQ:EXEL) Receives $31.44 Consensus Target Price from Brokerages

Shares of Exelixis, Inc. (NASDAQ:EXEL) have received an average recommendation of “Moderate Buy” from the twenty ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $31.44.

A number of brokerages have weighed in on EXEL. TD Cowen increased their price target on Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Stephens boosted their price target on Exelixis from $23.00 to $29.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. BMO Capital Markets raised their price objective on shares of Exelixis from $29.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Guggenheim increased their target price on shares of Exelixis from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $34.00 price target on shares of Exelixis in a research note on Wednesday, October 30th.

Exelixis Trading Down 0.4 %

Shares of EXEL stock opened at $35.03 on Wednesday. Exelixis has a 1-year low of $19.20 and a 1-year high of $36.97. The stock has a market cap of $10.00 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 0.89 and a beta of 0.52. The stock has a 50-day moving average of $32.66 and a 200-day moving average of $27.09.

Exelixis (NASDAQ:EXEL) last released 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 net margin of 22.43% and a return on equity of 20.99%. The firm had revenue of $539.50 million during the quarter, compared to analyst estimates of $490.31 million. During the same quarter last year, the business earned $0.10 EPS. The company’s revenue was up 14.3% compared to the same quarter last year. Sell-side analysts forecast that Exelixis will post 1.69 earnings per share for the current year.

Insider Activity

In other news, EVP Dana Aftab sold 1,162 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total transaction of $36,486.80. Following the completion of the sale, the executive vice president now owns 498,945 shares in the company, valued at $15,666,873. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 owns 486,059 shares in the company, valued at approximately $17,823,783.53. The trade was a 10.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 339,736 shares of company stock valued at $11,508,610 over the last three months. Corporate insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

Several hedge funds have recently made changes to their positions in EXEL. Covestor Ltd boosted its holdings in Exelixis by 5.7% in the 3rd quarter. Covestor Ltd now owns 6,335 shares of the biotechnology company’s stock worth $164,000 after buying an additional 341 shares during the period. Resonant Capital Advisors LLC boosted its holdings in shares of Exelixis by 3.6% in the second quarter. Resonant Capital Advisors LLC now owns 13,746 shares of the biotechnology company’s stock worth $309,000 after acquiring an additional 477 shares during the period. Cornercap Investment Counsel Inc. boosted its holdings in shares of Exelixis by 1.1% in the second quarter. Cornercap Investment Counsel Inc. now owns 50,497 shares of the biotechnology company’s stock worth $1,135,000 after acquiring an additional 539 shares during the period. Creative Planning grew its position in shares of Exelixis by 0.8% in 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 in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of Exelixis by 3.2% during the 3rd 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. 85.27% of the stock is currently 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.