Exelixis (NASDAQ:EXEL) Given New $42.00 Price Target at Guggenheim

Exelixis (NASDAQ:EXEL) had its price target increased by research analysts at Guggenheim from $33.00 to $42.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Guggenheim’s price objective suggests a potential upside of 23.38% from the stock’s current price.

EXEL has been the subject of a number of other reports. Brookline Capital Management assumed coverage on shares of Exelixis in a report on Monday, December 23rd. They set a “buy” rating for the company. The Goldman Sachs Group raised shares of Exelixis to a “strong sell” rating in a research report on Tuesday, October 15th. Wells Fargo & Company lifted their price objective on Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Piper Sandler increased their target price on Exelixis from $33.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Truist Financial upped their price target on Exelixis from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $33.00.

Exelixis Trading Up 2.5 %

Shares of EXEL traded up $0.84 during midday trading on Tuesday, reaching $34.04. The stock had a trading volume of 879,581 shares, compared to its average volume of 1,502,253. The company’s 50-day moving average is $34.67 and its 200 day moving average is $28.54. The company has a market capitalization of $9.72 billion, a price-to-earnings ratio of 21.82, a price-to-earnings-growth ratio of 0.89 and a beta of 0.53. Exelixis has a 12-month low of $19.20 and a 12-month high of $36.97.

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

Insider Activity at Exelixis

In other Exelixis news, EVP Jeffrey Hessekiel sold 60,000 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $36.67, for a total transaction 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. The trade was a 10.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Dana Aftab sold 96,986 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $35.00, for a total transaction of $3,394,510.00. Following the sale, the executive vice president now owns 498,945 shares in the company, valued at approximately $17,463,075. The trade was a 16.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 314,736 shares of company stock worth $10,849,110. 2.85% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EXEL. Los Angeles Capital Management LLC raised its holdings in Exelixis by 124.0% during 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 acquiring an additional 991,494 shares during the period. Caisse DE Depot ET Placement DU Quebec bought a new position in Exelixis in the 3rd quarter worth approximately $14,979,000. Farallon Capital Management LLC grew its holdings in Exelixis by 1.6% during the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock valued at $608,993,000 after buying an additional 424,000 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Exelixis by 12.7% during the second quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock valued at $73,425,000 after buying an additional 370,199 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Exelixis by 263.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 483,064 shares of the biotechnology company’s stock worth $12,536,000 after acquiring an additional 350,026 shares during the last quarter. 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.