Exelixis (NASDAQ:EXEL) Price Target Raised to $34.00

Exelixis (NASDAQ:EXEL) had its target price boosted by UBS Group from $30.00 to $34.00 in a report published on Tuesday,Benzinga reports. They currently have a neutral rating on the biotechnology company’s stock.

A number of other research firms have also issued reports on EXEL. Oppenheimer lowered shares of Exelixis from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $41.00 to $33.00 in a research note on Friday, January 24th. Bank of America lowered Exelixis from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $35.00 to $39.00 in a research report on Tuesday, December 17th. Morgan Stanley raised Exelixis from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $30.00 to $40.00 in a report on Monday. Stifel Nicolaus lifted their price objective on Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Finally, JMP Securities reiterated a “market outperform” rating and set a $41.00 target price on shares of Exelixis in a research note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Exelixis currently has an average rating of “Moderate Buy” and an average price target of $36.06.

Exelixis Price Performance

NASDAQ EXEL opened at $32.93 on Tuesday. Exelixis has a 1-year low of $20.01 and a 1-year high of $37.59. The firm has a market capitalization of $9.40 billion, a P/E ratio of 21.11, a P/E/G ratio of 0.72 and a beta of 0.53. The business’s 50-day simple moving average is $34.73 and its 200-day simple moving average is $30.01.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data 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 company had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. During the same period in the previous year, the firm earned $0.10 earnings per share. Exelixis’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, equities research analysts expect that Exelixis will post 1.74 EPS for the current fiscal year.

Insider Transactions at Exelixis

In other news, EVP Jeffrey Hessekiel sold 60,000 shares of Exelixis stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the sale, the executive vice president now owns 486,059 shares of the company’s stock, 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 SEC, which is accessible through the SEC website. Also, EVP Dana Aftab sold 96,986 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $35.00, for a total value of $3,394,510.00. Following the completion of the transaction, the executive vice president now directly owns 498,945 shares of the company’s stock, valued at $17,463,075. This trade represents a 16.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 208,574 shares of company stock worth $7,376,374. 2.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its stake in shares of Exelixis by 6.1% during the third quarter. FMR LLC now owns 2,462,072 shares of the biotechnology company’s stock valued at $63,891,000 after purchasing an additional 140,568 shares in the last quarter. Los Angeles Capital Management LLC raised its position in shares of Exelixis by 124.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock worth $46,473,000 after buying an additional 991,494 shares in the last quarter. Two Sigma Advisers LP raised its position in shares of Exelixis by 6.1% during the 3rd quarter. Two Sigma Advisers LP now owns 1,702,590 shares of the biotechnology company’s stock worth $44,182,000 after buying an additional 98,000 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Exelixis by 82.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company’s stock worth $52,884,000 after acquiring an additional 704,786 shares during the period. Finally, Systematic Financial Management LP boosted its holdings in shares of Exelixis by 7.1% in the third quarter. Systematic Financial Management LP now owns 1,168,391 shares of the biotechnology company’s stock valued at $30,320,000 after acquiring an additional 77,599 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

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.