Exelixis (NASDAQ:EXEL) Stock Price Expected to Rise, Truist Financial Analyst Says

Exelixis (NASDAQ:EXEL) had its price target raised by analysts at Truist Financial from $38.00 to $42.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Truist Financial’s price target would indicate a potential upside of 14.91% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. BMO Capital Markets lowered shares of Exelixis from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $36.00 to $40.00 in a research note on Friday, December 20th. Morgan Stanley raised their target price on Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, October 11th. Brookline Capital Management started coverage on Exelixis in a research report on Monday, December 23rd. They set a “buy” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $34.00 price objective on shares of Exelixis in a report on Wednesday, October 30th. Finally, JMP Securities upped their price objective on shares of Exelixis from $34.00 to $41.00 and gave the company a “market outperform” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Exelixis currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.50.

Exelixis Trading Down 1.9 %

Shares of EXEL opened at $36.55 on Wednesday. The stock has a 50 day moving average of $34.95 and a 200 day moving average of $29.14. The company has a market capitalization of $10.44 billion, a price-to-earnings ratio of 23.43, a PEG ratio of 0.87 and a beta of 0.53. Exelixis has a 12 month low of $20.01 and a 12 month high of $37.59.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The company had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $490.31 million. During the same period in the previous year, the business posted $0.10 EPS. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities research analysts predict that Exelixis will post 1.7 earnings per share for the current year.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Jeffrey Hessekiel sold 25,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $28.39, for a total value of $709,750.00. Following the sale, the executive vice president now owns 580,325 shares of the company’s stock, valued at $16,475,426.75. This trade represents a 4.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Dana Aftab sold 1,162 shares of Exelixis stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total value of $36,486.80. Following the sale, the executive vice president now owns 498,945 shares of the company’s stock, valued at approximately $15,666,873. This trade represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 314,736 shares of company stock valued at $10,849,110 in the last three months. Company insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

A number of institutional investors have recently made changes to their positions in EXEL. V Square Quantitative Management LLC purchased a new position in Exelixis in the third quarter worth $30,000. USA Financial Formulas purchased a new stake in Exelixis during the fourth quarter valued at about $32,000. Brooklyn Investment Group bought a new stake in Exelixis during the third quarter worth about $42,000. UMB Bank n.a. boosted its holdings in shares of Exelixis by 68.4% in the 4th quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 553 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Exelixis during the 3rd quarter valued at about $61,000. Institutional investors 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.