Exelixis (NASDAQ:EXEL) PT Raised to $32.00

Exelixis (NASDAQ:EXEL) had its target price boosted by equities research analysts at Bank of America from $30.00 to $32.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. Bank of America‘s price target suggests a potential upside of 9.03% from the company’s previous close.

Several other equities analysts have also recently commented on EXEL. UBS Group began coverage on shares of Exelixis in a research note on Thursday, September 19th. They set a “neutral” rating and a $30.00 target price for the company. Royal Bank of Canada upped their target price on shares of Exelixis from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. HC Wainwright reiterated a “buy” rating and set a $29.00 target price on shares of Exelixis in a research note on Wednesday, September 18th. Truist Financial reiterated a “buy” rating and set a $33.00 target price (up from $32.00) on shares of Exelixis in a research note on Thursday, August 8th. Finally, Oppenheimer reiterated an “outperform” rating and set a $29.00 target price on shares of Exelixis in a research note on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $29.07.

Exelixis Price Performance

Shares of Exelixis stock opened at $29.35 on Tuesday. The stock has a 50-day simple moving average of $26.35 and a 200-day simple moving average of $23.76. Exelixis has a 52-week low of $18.64 and a 52-week high of $29.60. The firm has a market cap of $8.90 billion, a price-to-earnings ratio of 45.86, a P/E/G ratio of 0.54 and a beta of 0.54.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.44. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. The firm had revenue of $637.18 million during the quarter, compared to analyst estimates of $468.21 million. As a group, equities research analysts predict that Exelixis will post 1.59 earnings per share for the current year.

Insider Transactions at Exelixis

In other news, EVP Jeffrey Hessekiel sold 25,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $26.38, for a total value of $659,500.00. Following the sale, the executive vice president now owns 605,325 shares of the company’s stock, valued at approximately $15,968,473.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Jeffrey Hessekiel sold 25,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $26.38, for a total value of $659,500.00. Following the sale, the executive vice president now owns 605,325 shares of the company’s stock, valued at approximately $15,968,473.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Maria C. Freire sold 8,250 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $26.56, for a total transaction of $219,120.00. Following the sale, the director now directly owns 91,007 shares in the company, valued at approximately $2,417,145.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 327,858 shares of company stock valued at $8,640,129. 2.85% of the stock is owned by insiders.

Institutional Investors Weigh In On Exelixis

A number of hedge funds have recently added to or reduced their stakes in EXEL. LSV Asset Management grew its holdings in Exelixis by 107.7% during the 2nd quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock worth $129,511,000 after acquiring an additional 2,989,021 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in Exelixis by 948.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock valued at $58,240,000 after purchasing an additional 2,220,150 shares during the period. Jupiter Asset Management Ltd. lifted its position in Exelixis by 148.2% during the 1st quarter. Jupiter Asset Management Ltd. now owns 2,267,894 shares of the biotechnology company’s stock valued at $53,817,000 after purchasing an additional 1,354,062 shares during the period. Swedbank AB acquired a new position in Exelixis during the 1st quarter valued at about $22,455,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Exelixis during the 1st quarter valued at about $10,906,000. Institutional investors 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.