Barclays Issues Positive Forecast for Exelixis (NASDAQ:EXEL) Stock Price

Exelixis (NASDAQ:EXEL) had its target price boosted by investment analysts at Barclays from $25.00 to $29.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the biotechnology company’s stock. Barclays‘s price target would indicate a potential downside of 14.69% from the stock’s current price.

Several other analysts also recently weighed in on EXEL. Truist Financial lifted their price target on shares of Exelixis from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Morgan Stanley raised Exelixis from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $30.00 to $40.00 in a research report on Monday, January 27th. Bank of America downgraded Exelixis from a “buy” rating to a “neutral” rating and increased their price target for the stock from $35.00 to $39.00 in a research report on Tuesday, December 17th. BMO Capital Markets lowered Exelixis from an “outperform” rating to a “market perform” rating and raised their price target for the company from $36.00 to $40.00 in a research note on Friday, December 20th. Finally, Brookline Capital Management assumed coverage on shares of Exelixis in a research note on Monday, December 23rd. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.24.

Exelixis Stock Up 3.6 %

EXEL traded up $1.19 during trading hours on Thursday, reaching $33.99. 397,850 shares of the company’s stock traded hands, compared to its average volume of 2,503,579. The firm has a 50-day moving average price of $34.24 and a 200 day moving average price of $30.72. The firm has a market capitalization of $9.71 billion, a PE ratio of 21.78, a PEG ratio of 0.63 and a beta of 0.53. 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a net margin of 22.43% and a return on equity of 20.99%. Equities analysts predict that Exelixis will post 1.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other Exelixis news, EVP Jeffrey Hessekiel sold 60,000 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the sale, the executive vice president now owns 486,059 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. 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 value of $1,428,963.68. Following the sale, the executive vice president now owns 288,665 shares in the company, valued at $9,918,529.40. The trade was a 12.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,588 shares of company stock valued at $3,981,864. 2.85% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of EXEL. Norges Bank purchased a new stake in shares of Exelixis during the fourth quarter valued at $94,867,000. Arrowstreet Capital Limited Partnership grew its stake in Exelixis by 104.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,159,395 shares of the biotechnology company’s stock valued at $105,208,000 after purchasing an additional 1,613,482 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Exelixis by 124.0% in the third 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 period. Allspring Global Investments Holdings LLC raised its stake in shares of Exelixis by 82.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company’s stock worth $52,884,000 after purchasing an additional 704,786 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Exelixis by 1,637.9% during the fourth quarter. Wells Fargo & Company MN now owns 746,286 shares of the biotechnology company’s stock worth $24,851,000 after purchasing an additional 703,343 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

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.