Brokerages Set Exelixis, Inc. (NASDAQ:EXEL) Target Price at $36.06

Shares of Exelixis, Inc. (NASDAQ:EXEL) have been assigned an average recommendation of “Moderate Buy” from the nineteen ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $36.06.

A number of equities research analysts recently issued reports on the stock. Oppenheimer cut shares of Exelixis from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $41.00 to $33.00 in a research report on Friday, January 24th. JMP Securities reaffirmed a “market outperform” rating and set a $41.00 price objective on shares of Exelixis in a report on Thursday, January 23rd. UBS Group boosted their target price on Exelixis from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Wells Fargo & Company raised their price target on Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Bank of America lowered Exelixis from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $35.00 to $39.00 in a research note on Tuesday, December 17th.

Exelixis Trading Up 0.7 %

NASDAQ EXEL opened at $33.15 on Thursday. Exelixis has a 1-year low of $20.01 and a 1-year high of $37.59. The company has a market capitalization of $9.47 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 0.72 and a beta of 0.53. The stock’s 50 day moving average is $34.68 and its two-hundred day moving average is $30.13.

Insider Transactions at Exelixis

In other Exelixis news, EVP Jeffrey Hessekiel sold 60,000 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 486,059 shares in the company, valued at approximately $17,823,783.53. This trade represents a 10.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Dana Aftab sold 96,986 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $35.00, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders have sold 208,574 shares of company stock worth $7,376,374 in the last three months. Insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

A number of hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC bought a new stake in Exelixis during the 3rd quarter worth approximately $30,000. USA Financial Formulas acquired a new position in shares of Exelixis in the fourth quarter valued at approximately $32,000. Principal Securities Inc. increased its position in shares of Exelixis by 62.8% during the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 373 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Exelixis during the fourth quarter worth $39,000. Finally, Brooklyn Investment Group bought a new stake in Exelixis in the 3rd quarter valued at $42,000. Institutional investors and hedge funds 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.