Piper Sandler Raises Exelixis (NASDAQ:EXEL) Price Target to $37.00

Exelixis (NASDAQ:EXEL) had its price objective lifted by Piper Sandler from $36.00 to $37.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

EXEL has been the topic of several other reports. Wells Fargo & Company raised their target price on Exelixis from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. JMP Securities restated a “market outperform” rating and set a $29.00 target price on shares of Exelixis in a research report on Friday, October 11th. Brookline Capital Management started coverage on shares of Exelixis in a research report on Monday, December 23rd. They issued a “buy” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $34.00 price objective on shares of Exelixis in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group raised Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Exelixis presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.75.

Exelixis Stock Down 2.0 %

Shares of EXEL stock opened at $35.30 on Monday. The company has a 50 day moving average price of $34.90 and a 200-day moving average price of $28.99. Exelixis has a 52 week low of $20.01 and a 52 week high of $36.97. The firm has a market capitalization of $10.08 billion, a PE ratio of 22.63, a P/E/G ratio of 0.88 and a beta of 0.53.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $539.50 million during the quarter, compared to analyst estimates of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS. Analysts anticipate that Exelixis will post 1.69 earnings per share for the current year.

Insider Transactions at Exelixis

In related news, EVP Jeffrey Hessekiel sold 60,000 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the sale, the executive vice president now directly owns 486,059 shares in the company, valued at approximately $17,823,783.53. The trade was a 10.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $36,486.80. Following the transaction, the executive vice president now owns 498,945 shares of the company’s stock, valued at $15,666,873. This represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 314,736 shares of company stock valued at $10,849,110. 2.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Exelixis

Large investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC boosted its stake in Exelixis by 45.3% during the second quarter. Hsbc Holdings PLC now owns 90,211 shares of the biotechnology company’s stock worth $2,031,000 after buying an additional 28,126 shares during the period. Farallon Capital Management LLC boosted its stake in shares of Exelixis by 1.6% during the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock worth $608,993,000 after purchasing an additional 424,000 shares during the period. Seizert Capital Partners LLC grew its holdings in Exelixis by 8.0% during the 3rd quarter. Seizert Capital Partners LLC now owns 469,940 shares of the biotechnology company’s stock valued at $12,195,000 after purchasing an additional 34,875 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in Exelixis by 124.0% in the third quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock worth $46,473,000 after purchasing an additional 991,494 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of Exelixis by 60.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 54,863 shares of the biotechnology company’s stock valued at $1,424,000 after buying an additional 20,641 shares during the period. 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.