Exelixis, Inc. (NASDAQ:EXEL) Receives $32.44 Consensus Price Target from Analysts

Shares of Exelixis, Inc. (NASDAQ:EXEL) have been given an average recommendation of “Moderate Buy” by the nineteen brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $33.00.

EXEL has been the subject of several recent analyst reports. Guggenheim raised their price target on Exelixis from $33.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday. HC Wainwright restated a “buy” rating and set a $29.00 target price on shares of Exelixis in a report on Wednesday, September 18th. Stephens boosted their price objective on Exelixis from $23.00 to $29.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company increased their price objective on Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, BMO Capital Markets downgraded shares of Exelixis from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $36.00 to $40.00 in a research note on Friday, December 20th.

Insider Buying and Selling

In related news, EVP Jeffrey Hessekiel sold 25,000 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $28.39, for a total value of $709,750.00. Following the completion of the transaction, the executive vice president now owns 580,325 shares of the company’s stock, valued at approximately $16,475,426.75. This represents a 4.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director George Poste sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $34.00, for a total value of $1,020,000.00. Following the transaction, the director now directly owns 169,020 shares of the company’s stock, valued at approximately $5,746,680. The trade was a 15.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 314,736 shares of company stock worth $10,849,110. 2.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On Exelixis

A number of hedge funds have recently modified their holdings of EXEL. V Square Quantitative Management LLC acquired a new position in Exelixis in the third quarter valued at about $30,000. Brooklyn Investment Group acquired a new stake in shares of Exelixis in the third quarter valued at $42,000. Capital Performance Advisors LLP purchased a new stake in shares of Exelixis during the third quarter worth approximately $61,000. Essex Investment Management Co. LLC acquired a new position in shares of Exelixis during the third quarter worth $74,000. Finally, GAMMA Investing LLC lifted its stake in Exelixis by 50.0% during the third quarter. GAMMA Investing LLC now owns 3,010 shares of the biotechnology company’s stock worth $78,000 after purchasing an additional 1,004 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Exelixis Price Performance

Shares of EXEL opened at $34.21 on Friday. The business has a 50-day moving average of $34.78 and a 200-day moving average of $28.63. Exelixis has a 1 year low of $19.20 and a 1 year high of $36.97. The company has a market capitalization of $9.77 billion, a price-to-earnings ratio of 21.93, a price-to-earnings-growth ratio of 0.89 and a beta of 0.53.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. The firm had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The company’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 earnings per share. As a group, sell-side analysts anticipate that Exelixis will post 1.69 EPS 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.