Exelixis, Inc. (NASDAQ:EXEL) Receives $37.59 Consensus Price Target from Brokerages

Shares of Exelixis, Inc. (NASDAQ:EXEL) have received a consensus rating of “Moderate Buy” from the twenty analysts that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $37.59.

A number of analysts recently issued reports on EXEL shares. Bank of America downgraded shares of Exelixis from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $35.00 to $39.00 in a report on Tuesday, December 17th. 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. Stephens reiterated an “equal weight” rating and issued a $29.00 target price on shares of Exelixis in a research note on Wednesday, February 12th. StockNews.com upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 19th. Finally, Truist Financial raised their price objective on shares of Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, January 27th.

Insiders Place Their Bets

In other Exelixis news, Director Jack L. Wyszomierski sold 8,768 shares of Exelixis stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $37.80, for a total transaction of $331,430.40. Following the completion of the sale, the director now owns 356,605 shares of the company’s stock, valued at $13,479,669. The trade was a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Patrick J. Haley sold 10,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $38.80, for a total value of $388,000.00. Following the completion of the transaction, the executive vice president now owns 341,028 shares of the company’s stock, valued at $13,231,886.40. The trade was a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 140,343 shares of company stock valued at $5,177,234 in the last quarter. Corporate insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

A number of hedge funds have recently bought and sold shares of EXEL. Invesco Ltd. grew its position in Exelixis by 308.1% during the fourth quarter. Invesco Ltd. now owns 3,975,241 shares of the biotechnology company’s stock valued at $132,376,000 after acquiring an additional 3,001,204 shares during the last quarter. Norges Bank bought a new position in shares of Exelixis during the 4th quarter valued at $94,867,000. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Exelixis by 330.4% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,484,395 shares of the biotechnology company’s stock valued at $82,730,000 after purchasing an additional 1,907,167 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Exelixis by 104.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,159,395 shares of the biotechnology company’s stock worth $105,208,000 after purchasing an additional 1,613,482 shares during the period. Finally, Voloridge Investment Management LLC bought a new stake in Exelixis in the fourth quarter worth $30,321,000. Institutional investors own 85.27% of the company’s stock.

Exelixis Stock Performance

NASDAQ:EXEL opened at $36.96 on Friday. Exelixis has a 52 week low of $20.14 and a 52 week high of $40.02. The firm has a 50-day moving average price of $35.61 and a two-hundred day moving average price of $32.91. The firm has a market cap of $10.34 billion, a price-to-earnings ratio of 20.88, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. As a group, sell-side analysts forecast that Exelixis will post 2.04 earnings per share for the current year.

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.