Exelixis (NASDAQ:EXEL) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Exelixis (NASDAQ:EXEL) had its price objective lifted by research analysts at Stifel Nicolaus from $30.00 to $36.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the biotechnology company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 4.38% from the company’s current price.

EXEL has been the topic of a number of other reports. BMO Capital Markets cut Exelixis from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $36.00 to $40.00 in a research report on Friday, December 20th. JMP Securities reiterated a “market outperform” rating and set a $41.00 price objective on shares of Exelixis in a research report on Thursday, January 23rd. Brookline Capital Management began coverage on Exelixis in a research note on Monday, December 23rd. They issued a “buy” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $34.00 target price on shares of Exelixis in a report on Wednesday, October 30th. Finally, Wells Fargo & Company lifted their price target on Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.24.

Exelixis Stock Up 5.2 %

NASDAQ:EXEL opened at $34.49 on Wednesday. The stock has a market cap of $9.85 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 0.63 and a beta of 0.53. The company’s 50 day moving average price is $34.21 and its 200-day moving average price is $30.75. Exelixis has a 52 week low of $20.14 and a 52 week high of $37.59.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a return on equity of 20.99% and a net margin of 22.43%. As a group, sell-side analysts anticipate that Exelixis will post 1.74 earnings per share for the current year.

Insider Buying and Selling at Exelixis

In other news, EVP Jeffrey Hessekiel sold 60,000 shares of Exelixis stock in a transaction 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 of the company’s stock, valued at $17,823,783.53. The trade was a 10.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Patrick J. Haley sold 41,588 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.36, for a total value of $1,428,963.68. Following the sale, the executive vice president now owns 288,665 shares of the company’s stock, valued at $9,918,529.40. This trade represents a 12.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,588 shares of company stock valued at $3,981,864 over the last quarter. 2.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On Exelixis

Institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in shares of Exelixis during the 3rd quarter worth approximately $30,000. USA Financial Formulas acquired a new stake in Exelixis during the 4th quarter valued at $32,000. Principal Securities Inc. increased its position in Exelixis by 62.8% during the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock worth $32,000 after buying an additional 373 shares in the last quarter. Kestra Investment Management LLC acquired a new position in shares of Exelixis in the fourth quarter worth $39,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Exelixis in the third quarter valued at $42,000. Hedge funds and other 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.