Piper Sandler Boosts Exelixis (NASDAQ:EXEL) Price Target to $33.00

Exelixis (NASDAQ:EXEL) had its price objective lifted by Piper Sandler from $30.00 to $33.00 in a research report sent to investors on Monday morning, The Fly reports. Piper Sandler currently has an overweight rating on the biotechnology company’s stock.

Other research analysts have also recently issued reports about the company. BidaskClub raised Exelixis from a strong sell rating to a sell rating in a research report on Tuesday, September 15th. SunTrust Banks reaffirmed a buy rating and set a $40.00 price objective on shares of Exelixis in a research report on Wednesday, July 8th. Zacks Investment Research cut Exelixis from a buy rating to a hold rating and set a $26.00 price objective on the stock. in a research report on Thursday, May 28th. William Blair reaffirmed a buy rating on shares of Exelixis in a research report on Friday, August 14th. Finally, Oppenheimer assumed coverage on Exelixis in a research note on Monday, June 1st. They set a buy rating and a $32.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. Exelixis currently has a consensus rating of Buy and an average price target of $29.92.

Shares of NASDAQ:EXEL opened at $23.72 on Monday. Exelixis has a 52-week low of $13.67 and a 52-week high of $27.80. The stock has a market capitalization of $7.33 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 1.44 and a beta of 1.41. The stock’s 50-day simple moving average is $22.65 and its two-hundred day simple moving average is $22.19.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.09. Exelixis had a return on equity of 16.40% and a net margin of 28.21%. The firm had revenue of $259.50 million for the quarter, compared to analysts’ expectations of $226.40 million. During the same period in the previous year, the firm earned $0.29 EPS. The business’s quarterly revenue was up 8.0% on a year-over-year basis. As a group, equities analysts forecast that Exelixis will post 0.46 earnings per share for the current year.

In other Exelixis news, CFO Christopher J. Senner sold 20,000 shares of Exelixis stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $25.00, for a total value of $500,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Patrick J. Haley sold 4,680 shares of Exelixis stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $26.09, for a total value of $122,101.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,831 shares of company stock worth $702,011. Corporate insiders own 4.50% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Exelixis by 182.1% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 176,193 shares of the biotechnology company’s stock worth $4,193,000 after purchasing an additional 113,733 shares during the period. Public Employees Retirement Association of Colorado boosted its holdings in shares of Exelixis by 6.6% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 45,867 shares of the biotechnology company’s stock worth $790,000 after purchasing an additional 2,853 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Exelixis by 96.6% in the 1st quarter. Russell Investments Group Ltd. now owns 137,782 shares of the biotechnology company’s stock worth $2,377,000 after purchasing an additional 67,716 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in shares of Exelixis by 114.6% in the 1st quarter. Oppenheimer & Co. Inc. now owns 27,550 shares of the biotechnology company’s stock worth $474,000 after purchasing an additional 14,715 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Exelixis by 16.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 64,694 shares of the biotechnology company’s stock worth $1,114,000 after purchasing an additional 8,923 shares during the period. 81.62% of the stock is currently owned by institutional investors and hedge funds.

About Exelixis

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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