Brokerages Set Exelixis, Inc. (NASDAQ:EXEL) Price Target at $29.57

Shares of Exelixis, Inc. (NASDAQ:EXEL) have been given an average recommendation of “Moderate Buy” by the sixteen research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $29.57.

A number of equities research analysts have recently commented on the company. Morgan Stanley increased their price objective on Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. Bank of America increased their price target on Exelixis from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Royal Bank of Canada boosted their price objective on Exelixis from $30.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. StockNews.com upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 13th. Finally, HC Wainwright restated a “buy” rating and set a $29.00 price target on shares of Exelixis in a report on Wednesday, September 18th.

Exelixis Stock Up 2.3 %

NASDAQ:EXEL opened at $28.50 on Tuesday. The business’s 50-day moving average price is $26.65 and its 200 day moving average price is $24.05. Exelixis has a 52-week low of $19.20 and a 52-week high of $29.75. The firm has a market cap of $8.13 billion, a P/E ratio of 24.57, a PEG ratio of 0.61 and a beta of 0.54.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.44. Exelixis had a net margin of 17.38% and a return on equity of 15.54%. The business had revenue of $637.18 million for the quarter, compared to the consensus estimate of $468.21 million. Sell-side analysts expect that Exelixis will post 1.58 EPS for the current year.

Insider Buying and Selling at Exelixis

In related news, EVP Dana Aftab sold 95,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total value of $2,375,000.00. Following the completion of the sale, the executive vice president now owns 520,990 shares of the company’s stock, valued at approximately $13,024,750. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Exelixis news, CFO Christopher J. Senner sold 125,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $27.19, for a total value of $3,398,750.00. Following the completion of the sale, the chief financial officer now owns 721,680 shares of the company’s stock, valued at $19,622,479.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dana Aftab sold 95,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total value of $2,375,000.00. Following the completion of the sale, the executive vice president now directly owns 520,990 shares of the company’s stock, valued at $13,024,750. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 327,858 shares of company stock worth $8,640,129 over the last 90 days. 2.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Exelixis

Large investors have recently added to or reduced their stakes in the stock. LSV Asset Management boosted its holdings in shares of Exelixis by 107.7% during the 2nd quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock worth $129,511,000 after buying an additional 2,989,021 shares during the period. Jupiter Asset Management Ltd. grew its position in shares of Exelixis by 148.2% in the first quarter. Jupiter Asset Management Ltd. now owns 2,267,894 shares of the biotechnology company’s stock valued at $53,817,000 after purchasing an additional 1,354,062 shares during the last quarter. Swedbank AB acquired a new stake in shares of Exelixis in the first quarter valued at about $22,455,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Exelixis in the first quarter worth about $10,906,000. Finally, Farallon Capital Management LLC lifted its position in shares of Exelixis by 1.6% during the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock worth $608,993,000 after purchasing an additional 424,000 shares during the last quarter. 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.