JMP Securities Boosts Exelixis (NASDAQ:EXEL) Price Target to $41.00

Exelixis (NASDAQ:EXEL) had its target price boosted by research analysts at JMP Securities from $34.00 to $41.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “market outperform” rating on the biotechnology company’s stock. JMP Securities’ price target points to a potential upside of 12.18% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. TD Cowen increased their price target on Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Morgan Stanley lifted their price target on Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. UBS Group started coverage on Exelixis in a research note on Thursday, September 19th. They issued a “neutral” rating and a $30.00 price objective for the company. Stephens lifted their target price on shares of Exelixis from $23.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, HC Wainwright increased their target price on shares of Exelixis from $29.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Exelixis presently has a consensus rating of “Moderate Buy” and an average target price of $35.50.

Exelixis Price Performance

NASDAQ:EXEL opened at $36.55 on Wednesday. The company has a 50 day moving average price of $34.95 and a 200-day moving average price of $29.14. Exelixis has a 1-year low of $20.01 and a 1-year high of $37.59. The firm has a market cap of $10.44 billion, a price-to-earnings ratio of 23.43, a price-to-earnings-growth ratio of 0.87 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The company had revenue of $539.50 million during the quarter, compared to analysts’ expectations of $490.31 million. During the same quarter in the previous year, the company earned $0.10 earnings per share. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, sell-side analysts anticipate that Exelixis will post 1.7 earnings per share for the current fiscal year.

Insider Activity at Exelixis

In other Exelixis news, EVP Jeffrey Hessekiel sold 60,000 shares of Exelixis stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the completion of the sale, the executive vice president now directly owns 486,059 shares in the company, valued at $17,823,783.53. This trade represents a 10.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dana Aftab sold 1,162 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total transaction of $36,486.80. Following the completion of the sale, the executive vice president now directly owns 498,945 shares in the company, valued at $15,666,873. This trade represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 314,736 shares of company stock worth $10,849,110. Insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

Institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new position in Exelixis during the third quarter worth $30,000. USA Financial Formulas acquired a new position in Exelixis during the 4th quarter worth about $32,000. Brooklyn Investment Group purchased a new position in Exelixis during the 3rd quarter valued at about $42,000. UMB Bank n.a. grew its position in Exelixis by 68.4% in the 4th quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 553 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in Exelixis during the third quarter worth about $61,000. Institutional investors and hedge funds 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.