Analysts Set Exelixis, Inc. (NASDAQ:EXEL) PT at $32.44

Exelixis, Inc. (NASDAQ:EXEL) has earned an average recommendation of “Moderate Buy” from the nineteen ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $33.69.

Several equities research analysts have weighed in on EXEL shares. Stifel Nicolaus raised their price target on Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Morgan Stanley boosted their target price on shares of Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, October 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $34.00 price objective on shares of Exelixis in a research note on Wednesday, October 30th. Guggenheim upped their target price on Exelixis from $33.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Finally, Piper Sandler lifted their price target on Exelixis from $33.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th.

Insider Buying and Selling at Exelixis

In other news, EVP Dana Aftab sold 1,162 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total transaction 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Jeffrey Hessekiel sold 50,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $34.13, for a total value of $1,706,500.00. Following the transaction, the executive vice president now owns 530,325 shares in the company, valued at $18,099,992.25. This trade represents a 8.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 314,736 shares of company stock valued at $10,849,110. Corporate insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

Institutional investors and hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC boosted its holdings in Exelixis by 45.3% in the 2nd quarter. Hsbc Holdings PLC now owns 90,211 shares of the biotechnology company’s stock worth $2,031,000 after buying an additional 28,126 shares during the last quarter. Farallon Capital Management LLC boosted its stake in shares of Exelixis by 1.6% in the second quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock worth $608,993,000 after acquiring an additional 424,000 shares during the last quarter. Seizert Capital Partners LLC increased its position in shares of Exelixis by 8.0% during the third quarter. Seizert Capital Partners LLC now owns 469,940 shares of the biotechnology company’s stock worth $12,195,000 after purchasing an additional 34,875 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in Exelixis by 124.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock valued at $46,473,000 after purchasing an additional 991,494 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in Exelixis by 60.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 54,863 shares of the biotechnology company’s stock valued at $1,424,000 after purchasing an additional 20,641 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Exelixis Stock Up 4.4 %

NASDAQ EXEL opened at $36.02 on Friday. Exelixis has a 52 week low of $20.01 and a 52 week high of $36.97. The company has a 50 day moving average price of $34.88 and a 200 day moving average price of $28.85. The firm has a market cap of $10.29 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 0.88 and a beta of 0.53.

Exelixis (NASDAQ:EXEL) last issued 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. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The firm had revenue of $539.50 million during the quarter, compared to analyst estimates of $490.31 million. During the same quarter in the prior year, the business posted $0.10 EPS. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, equities research analysts anticipate that Exelixis will post 1.69 earnings per share for the current fiscal year.

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.