Exelixis, Inc. (NASDAQ:EXEL) – Analysts at SunTrust Banks raised their FY2022 earnings per share (EPS) estimates for shares of Exelixis in a note issued to investors on Tuesday, February 11th. SunTrust Banks analyst A. Goonewardene now expects that the biotechnology company will post earnings of $1.96 per share for the year, up from their prior estimate of $1.95. SunTrust Banks has a “Buy” rating and a $31.00 price objective on the stock. SunTrust Banks also issued estimates for Exelixis’ FY2023 earnings at $2.28 EPS and FY2024 earnings at $2.70 EPS.
Other analysts have also recently issued reports about the stock. Bank of America reaffirmed a “buy” rating and set a $21.00 price objective (down from $22.00) on shares of Exelixis in a research note on Monday, January 13th. Cowen reissued a “buy” rating and set a $23.00 price target on shares of Exelixis in a research note on Sunday, January 12th. Piper Sandler reissued a “buy” rating and set a $35.00 price target on shares of Exelixis in a research note on Tuesday. Zacks Investment Research cut shares of Exelixis from a “buy” rating to a “hold” rating and set a $20.00 price target on the stock. in a research note on Friday, January 10th. Finally, TheStreet cut shares of Exelixis from a “b-” rating to a “c” rating in a research note on Friday, November 22nd. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $26.09.
In other Exelixis news, CMO Gisela Schwab sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $17.36, for a total value of $868,000.00. Also, Director George A. Scangos sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $20.14, for a total value of $80,560.00. Following the sale, the director now directly owns 1,034,031 shares in the company, valued at $20,825,384.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 427,639 shares of company stock worth $7,914,164. Company insiders own 4.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of EXEL. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Exelixis by 182.1% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 176,193 shares of the biotechnology company’s stock worth $4,193,000 after acquiring an additional 113,733 shares during the last quarter. Macquarie Group Ltd. purchased a new stake in shares of Exelixis in the 2nd quarter valued at $227,000. CIBC Private Wealth Group LLC raised its holdings in shares of Exelixis by 12.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 20,631 shares of the biotechnology company’s stock valued at $365,000 after buying an additional 2,254 shares during the period. Meeder Asset Management Inc. raised its holdings in shares of Exelixis by 14.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 37,141 shares of the biotechnology company’s stock valued at $657,000 after buying an additional 4,697 shares during the period. Finally, Nisa Investment Advisors LLC purchased a new stake in shares of Exelixis in the 3rd quarter valued at $162,000. 77.01% of the stock is owned by institutional investors and hedge funds.
Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. The company's products include 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 patients with progressive and metastatic medullary thyroid cancer.
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