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

Exelixis (NASDAQ:EXEL) had its price objective lifted by investment analysts at Stephens from $23.00 to $29.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the biotechnology company’s stock. Stephens’ target price points to a potential downside of 12.65% from the company’s current price.

A number of other equities analysts have also recently commented on the company. Stifel Nicolaus lifted their price target on Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Guggenheim lifted their price target on Exelixis from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday. Bank of America lifted their price target on Exelixis from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. TD Cowen lifted their price target on Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Truist Financial lifted their price target on Exelixis from $33.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Exelixis presently has an average rating of “Moderate Buy” and an average price target of $31.44.

Exelixis Price Performance

Shares of NASDAQ EXEL opened at $33.20 on Wednesday. The stock has a market capitalization of $9.47 billion, a price-to-earnings ratio of 28.62, a PEG ratio of 0.61 and a beta of 0.54. The business has a 50-day moving average of $26.96 and a 200-day moving average of $24.21. Exelixis has a fifty-two week low of $19.20 and a fifty-two week high of $33.60.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.44. The company had revenue of $637.18 million during the quarter, compared to analysts’ expectations of $468.21 million. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. On average, sell-side analysts expect that Exelixis will post 1.58 EPS for the current year.

Insider Activity

In other news, Director Maria C. Freire sold 8,250 shares of Exelixis stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $26.56, for a total value of $219,120.00. Following the completion of the sale, the director now directly owns 91,007 shares in the company, valued at approximately $2,417,145.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Exelixis news, Director Maria C. Freire sold 8,250 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $26.56, for a total transaction of $219,120.00. Following the completion of the transaction, the director now directly owns 91,007 shares in the company, valued at $2,417,145.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Christopher J. Senner sold 125,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $27.19, for a total transaction of $3,398,750.00. Following the transaction, the chief financial officer now owns 721,680 shares of the company’s stock, valued at approximately $19,622,479.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 352,858 shares of company stock worth $9,349,879. Corporate insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

Hedge funds and other institutional investors have recently modified their holdings of the stock. Farallon Capital Management LLC grew its stake in shares of Exelixis by 1.6% in the second quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock worth $608,993,000 after purchasing an additional 424,000 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Exelixis by 0.4% in the second quarter. Renaissance Technologies LLC now owns 15,163,066 shares of the biotechnology company’s stock worth $340,714,000 after purchasing an additional 61,350 shares during the last quarter. LSV Asset Management grew its stake in shares of Exelixis by 107.7% in the second quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock worth $129,511,000 after purchasing an additional 2,989,021 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Exelixis by 7.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,137,201 shares of the biotechnology company’s stock worth $115,434,000 after purchasing an additional 349,837 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Exelixis by 12.7% in the second quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock worth $73,425,000 after purchasing an additional 370,199 shares during the last quarter. 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.