Exelixis, Inc. (NASDAQ:EXEL) Receives $31.44 Consensus Target Price from Analysts

Shares of Exelixis, Inc. (NASDAQ:EXEL) have received an average rating of “Moderate Buy” from the twenty research firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $31.44.

EXEL has been the topic of several research reports. Bank of America increased their price target on shares of Exelixis from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Guggenheim increased their target price on shares of Exelixis from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. JMP Securities restated a “market outperform” rating and issued a $29.00 price target on shares of Exelixis in a research note on Friday, October 11th. UBS Group initiated coverage on Exelixis in a research report on Thursday, September 19th. They set a “neutral” rating and a $30.00 price objective on the stock. Finally, TD Cowen increased their price target on Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, October 21st.

Insider Transactions at Exelixis

In other Exelixis news, EVP Jeffrey Hessekiel sold 20,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $25.79, for a total value of $515,800.00. Following the transaction, the executive vice president now directly owns 630,325 shares of the company’s stock, valued at approximately $16,256,081.75. The trade was a 3.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Dana Aftab sold 1,162 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total transaction of $36,486.80. Following the transaction, the executive vice president now directly owns 498,945 shares of the company’s stock, valued at $15,666,873. This represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 248,148 shares of company stock worth $8,042,547. Company insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

Several institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC lifted its stake in shares of Exelixis by 45.3% in the second quarter. Hsbc Holdings PLC now owns 90,211 shares of the biotechnology company’s stock valued at $2,031,000 after purchasing an additional 28,126 shares during the period. Farallon Capital Management LLC lifted its position in shares of Exelixis by 1.6% during the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock valued at $608,993,000 after acquiring an additional 424,000 shares during the period. Los Angeles Capital Management LLC lifted its position in shares of Exelixis by 124.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock valued at $46,473,000 after acquiring an additional 991,494 shares during the period. Intech Investment Management LLC boosted its stake in shares of Exelixis by 155.8% during the 1st quarter. Intech Investment Management LLC now owns 100,039 shares of the biotechnology company’s stock worth $2,374,000 after acquiring an additional 60,925 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of Exelixis by 60.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 54,863 shares of the biotechnology company’s stock worth $1,424,000 after acquiring an additional 20,641 shares during the period. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Stock Up 0.2 %

Shares of EXEL opened at $34.52 on Friday. The stock has a fifty day simple moving average of $29.22 and a two-hundred day simple moving average of $25.26. Exelixis has a 52-week low of $19.20 and a 52-week high of $36.60. The company has a market capitalization of $9.86 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 0.88 and a beta of 0.51.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The firm had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 earnings per share. As a group, equities analysts anticipate that Exelixis will post 1.68 earnings per share for the current fiscal year.

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.