Exelixis, Inc. (NASDAQ:EXEL) Receives $31.44 Consensus Target Price from Brokerages

Exelixis, Inc. (NASDAQ:EXEL) has received an average recommendation of “Moderate Buy” from the twenty ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $31.44.

Several equities research analysts recently issued reports on EXEL shares. Oppenheimer reiterated an “outperform” rating and set a $29.00 price target on shares of Exelixis in a report on Tuesday, July 30th. Wells Fargo & Company upped their price objective on Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Piper Sandler upped their price objective on Exelixis from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. HC Wainwright restated a “buy” rating and issued a $29.00 price objective on shares of Exelixis in a research note on Wednesday, September 18th. Finally, Stifel Nicolaus upped their price objective on Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th.

Exelixis Trading Up 2.2 %

Shares of Exelixis stock opened at $35.61 on Friday. The stock has a fifty day simple moving average of $29.90 and a 200 day simple moving average of $25.57. Exelixis has a 12-month low of $19.20 and a 12-month high of $36.60. The company has a market capitalization of $10.17 billion, a P/E ratio of 22.83, a price-to-earnings-growth ratio of 0.87 and a beta of 0.51.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The business had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. Exelixis’s revenue was up 14.3% compared to the same quarter last year. On average, analysts predict that Exelixis will post 1.68 EPS for the current year.

Insider Buying and Selling

In related news, EVP Dana Aftab sold 1,162 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total transaction of $36,486.80. Following the sale, the executive vice president now owns 498,945 shares of the company’s stock, valued at approximately $15,666,873. This represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Patrick J. Haley sold 41,588 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.36, for a total value of $1,428,963.68. Following the sale, the executive vice president now directly owns 288,665 shares in the company, valued at $9,918,529.40. This trade represents a 12.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 289,736 shares of company stock valued at $9,471,510. Corporate insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

Institutional investors and hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC raised its holdings in shares of Exelixis by 45.3% in the 2nd quarter. Hsbc Holdings PLC now owns 90,211 shares of the biotechnology company’s stock valued at $2,031,000 after acquiring an additional 28,126 shares in the last quarter. Farallon Capital Management LLC raised its holdings in shares of Exelixis by 1.6% in 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 acquiring an additional 424,000 shares in the last quarter. Seizert Capital Partners LLC raised its holdings in shares of Exelixis by 8.0% in the 3rd quarter. Seizert Capital Partners LLC now owns 469,940 shares of the biotechnology company’s stock valued at $12,195,000 after acquiring an additional 34,875 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of Exelixis by 124.0% in the 3rd 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 in the last quarter. Finally, Intech Investment Management LLC raised its holdings in shares of Exelixis by 155.8% in the 1st quarter. Intech Investment Management LLC now owns 100,039 shares of the biotechnology company’s stock valued at $2,374,000 after acquiring an additional 60,925 shares in 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.