Exelixis (NASDAQ:EXEL) Given New $43.00 Price Target at Truist Financial

Exelixis (NASDAQ:EXEL) had its price target raised by Truist Financial from $42.00 to $43.00 in a report published on Monday morning,Benzinga reports. Truist Financial currently has a buy rating on the biotechnology company’s stock.

EXEL has been the subject of several other reports. Royal Bank of Canada reissued an “outperform” rating and issued a $34.00 price objective on shares of Exelixis in a research report on Wednesday, October 30th. BMO Capital Markets downgraded shares of Exelixis from an “outperform” rating to a “market perform” rating and increased their price target for the company from $36.00 to $40.00 in a report on Friday, December 20th. The Goldman Sachs Group upgraded shares of Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. Brookline Capital Management began coverage on shares of Exelixis in a research note on Monday, December 23rd. They issued a “buy” rating for the company. Finally, Stephens restated an “equal weight” rating and set a $29.00 price target on shares of Exelixis in a research note on Monday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.81.

Exelixis Trading Up 1.0 %

NASDAQ:EXEL opened at $32.72 on Monday. The firm has a market capitalization of $9.34 billion, a PE ratio of 20.97, a PEG ratio of 0.72 and a beta of 0.53. Exelixis has a 1 year low of $20.01 and a 1 year high of $37.59. The firm’s fifty day simple moving average is $34.84 and its 200 day simple moving average is $29.89.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The company had revenue of $539.50 million for the quarter, compared to the consensus estimate of $490.31 million. During the same period last year, the business posted $0.10 earnings per share. The firm’s revenue was up 14.3% compared to the same quarter last year. As a group, analysts anticipate that Exelixis will post 1.74 EPS for the current fiscal year.

Insider Activity at Exelixis

In other news, Director George Poste sold 30,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $34.00, for a total transaction of $1,020,000.00. Following the sale, the director now owns 169,020 shares in the company, valued at approximately $5,746,680. This represents a 15.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dana Aftab sold 1,162 shares of Exelixis stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total value of $36,486.80. Following the completion of 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. Insiders sold 289,736 shares of company stock valued at $10,139,360 in the last ninety days. Insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

Hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP acquired a new position in shares of Exelixis during the second quarter worth approximately $801,000. Squarepoint Ops LLC raised its position in Exelixis by 242.8% in the 2nd quarter. Squarepoint Ops LLC now owns 89,449 shares of the biotechnology company’s stock worth $2,010,000 after purchasing an additional 63,352 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in Exelixis by 62.1% during the 2nd quarter. Mackenzie Financial Corp now owns 433,311 shares of the biotechnology company’s stock worth $9,736,000 after buying an additional 166,057 shares in the last quarter. Algert Global LLC boosted its position in Exelixis by 7.6% in the 2nd quarter. Algert Global LLC now owns 276,352 shares of the biotechnology company’s stock valued at $6,210,000 after buying an additional 19,559 shares during the last quarter. Finally, Creative Planning increased its stake in shares of Exelixis by 0.8% in the 2nd quarter. Creative Planning now owns 71,700 shares of the biotechnology company’s stock valued at $1,611,000 after buying an additional 548 shares during the period. 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.