Exelixis (NASDAQ:EXEL) Price Target Raised to $41.00 at Oppenheimer

Exelixis (NASDAQ:EXEL) had its price objective boosted by Oppenheimer from $38.00 to $41.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the biotechnology company’s stock.

EXEL has been the subject of several other research reports. BMO Capital Markets cut shares of Exelixis from an “outperform” rating to a “market perform” rating and upped their target price for the company from $36.00 to $40.00 in a report on Friday, December 20th. Stephens upped their price objective on shares of Exelixis from $23.00 to $29.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. TD Cowen lifted their target price on Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Brookline Capital Management assumed coverage on Exelixis in a research report on Monday, December 23rd. They issued a “buy” rating for the company. Finally, Stifel Nicolaus boosted their price objective on Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Exelixis currently has an average rating of “Moderate Buy” and a consensus target price of $35.50.

Exelixis Price Performance

EXEL opened at $36.55 on Thursday. The stock has a market capitalization of $10.44 billion, a price-to-earnings ratio of 23.43, a PEG ratio of 0.87 and a beta of 0.53. The business has a fifty day moving average price of $34.95 and a 200 day moving average price of $29.14. Exelixis has a 12 month low of $20.01 and a 12 month high of $37.59.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, topping the consensus estimate 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 business posted $0.10 EPS. The firm’s revenue was up 14.3% on a year-over-year basis. On average, research analysts anticipate that Exelixis will post 1.7 earnings per share for the current year.

Insider Activity

In other news, EVP Jeffrey Hessekiel sold 25,000 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $28.39, for a total value of $709,750.00. Following the completion of the transaction, the executive vice president now owns 580,325 shares in the company, valued at $16,475,426.75. This trade represents a 4.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Patrick J. Haley sold 41,588 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.36, for a total transaction of $1,428,963.68. Following the sale, the executive vice president now directly owns 288,665 shares in the company, valued at approximately $9,918,529.40. This represents a 12.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 314,736 shares of company stock valued at $10,849,110 in the last three months. 2.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Exelixis

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new stake in shares of Exelixis in the 3rd quarter worth approximately $30,000. USA Financial Formulas purchased a new stake in Exelixis during the fourth quarter worth $32,000. Brooklyn Investment Group acquired a new stake in Exelixis in the third quarter valued at $42,000. UMB Bank n.a. increased its position in shares of Exelixis by 68.4% in the fourth quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 553 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of Exelixis during the 3rd quarter worth $61,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

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.