Exelixis (NASDAQ:EXEL) Price Target Raised to $40.00 at Royal Bank of Canada

Exelixis (NASDAQ:EXEL) had its price objective increased by stock analysts at Royal Bank of Canada from $38.00 to $40.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the biotechnology company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 8.51% from the company’s previous close.

A number of other equities research analysts also recently issued reports on EXEL. Stifel Nicolaus lifted their price target on shares of Exelixis from $30.00 to $36.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. Wells Fargo & Company cut Exelixis from an “overweight” rating to an “equal weight” rating and set a $36.00 price objective for the company. in a report on Monday, February 24th. Bank of America lowered Exelixis from a “buy” rating to a “neutral” rating and upped their target price for the company from $35.00 to $39.00 in a report on Tuesday, December 17th. Citigroup lifted their price target on Exelixis from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, Truist Financial boosted their price objective on shares of Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.59.

Exelixis Trading Down 0.9 %

NASDAQ:EXEL traded down $0.34 during midday trading on Thursday, hitting $36.86. 897,564 shares of the company were exchanged, compared to its average volume of 2,081,363. The company has a fifty day simple moving average of $35.25 and a 200 day simple moving average of $32.33. The company has a market capitalization of $10.32 billion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. Exelixis has a fifty-two week low of $20.14 and a fifty-two week high of $40.02.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. As a group, equities research analysts expect that Exelixis will post 2.04 EPS for the current year.

Insider Activity at Exelixis

In other news, Director Jack L. Wyszomierski sold 8,768 shares of Exelixis stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $37.80, for a total value of $331,430.40. Following the transaction, the director now directly owns 356,605 shares of the company’s stock, valued at $13,479,669. The trade was a 2.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Patrick J. Haley sold 10,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $38.80, for a total value of $388,000.00. Following the sale, the executive vice president now owns 341,028 shares of the company’s stock, valued at $13,231,886.40. The trade was a 2.85 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 140,343 shares of company stock worth $5,177,234. 2.85% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Coppell Advisory Solutions LLC purchased a new position in shares of Exelixis in the 4th quarter valued at $25,000. Colonial Trust Co SC raised its position in Exelixis by 616.9% in the fourth quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 765 shares during the period. Principal Securities Inc. lifted its stake in shares of 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 purchasing an additional 373 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of Exelixis in the fourth quarter worth about $32,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Exelixis in the fourth quarter valued at about $39,000. 85.27% of the stock is 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.