Exelixis (NASDAQ:EXEL) Price Target Raised to $42.00

Exelixis (NASDAQ:EXEL) had its price target lifted by Guggenheim from $33.00 to $42.00 in a research report released on Tuesday,Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock.

Several other research analysts also recently weighed in on the stock. BMO Capital Markets downgraded shares of Exelixis from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $36.00 to $40.00 in a research report on Friday, December 20th. Stephens upped their price target on Exelixis from $23.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Bank of America cut Exelixis from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $35.00 to $39.00 in a research report on Tuesday, December 17th. JMP Securities reissued a “market outperform” rating and issued a $29.00 target price on shares of Exelixis in a report on Friday, October 11th. Finally, Morgan Stanley lifted their price target on shares of Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $33.00.

Exelixis Trading Up 0.8 %

Shares of EXEL opened at $34.50 on Tuesday. The firm has a fifty day simple moving average of $34.84 and a two-hundred day simple moving average of $28.71. The firm has a market cap of $9.85 billion, a PE ratio of 22.12, a P/E/G ratio of 0.88 and a beta of 0.52. Exelixis has a 1-year low of $20.01 and a 1-year high of $36.97.

Exelixis (NASDAQ:EXEL) last posted 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 company had revenue of $539.50 million during 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%. Exelixis’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 earnings per share. As a group, research analysts forecast that Exelixis will post 1.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Dana Aftab sold 96,986 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $35.00, for a total transaction of $3,394,510.00. Following the sale, the executive vice president now directly owns 498,945 shares in the company, valued at approximately $17,463,075. This represents a 16.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $36.67, for a total value of $2,200,200.00. Following the transaction, the executive vice president now directly owns 486,059 shares in the company, valued at approximately $17,823,783.53. This represents a 10.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 314,736 shares of company stock valued at $10,849,110 in the last quarter. 2.85% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new position in Exelixis in the 3rd quarter worth about $30,000. Brooklyn Investment Group purchased a new stake in shares of Exelixis in the third quarter valued at approximately $42,000. Capital Performance Advisors LLP bought a new position in Exelixis in the third quarter worth approximately $61,000. Essex Investment Management Co. LLC purchased a new position in Exelixis during the 3rd quarter worth $74,000. Finally, GAMMA Investing LLC raised its position in Exelixis by 50.0% during the 3rd quarter. GAMMA Investing LLC now owns 3,010 shares of the biotechnology company’s stock valued at $78,000 after purchasing an additional 1,004 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

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.