TD Cowen Increases Exelixis (NASDAQ:EXEL) Price Target to $34.00

Exelixis (NASDAQ:EXEL) had its target price increased by TD Cowen from $27.00 to $34.00 in a report published on Monday morning, Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

EXEL has been the topic of a number of other research reports. Stifel Nicolaus boosted their price objective on Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Morgan Stanley boosted their price objective on Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. UBS Group began coverage on Exelixis in a research note on Thursday, September 19th. They set a “neutral” rating and a $30.00 price objective on the stock. Truist Financial reissued a “buy” rating and set a $33.00 price objective (up previously from $32.00) on shares of Exelixis in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group raised Exelixis to a “strong sell” rating in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.57.

Exelixis Price Performance

Shares of NASDAQ:EXEL opened at $28.11 on Monday. The business’s 50 day moving average price is $26.58 and its 200-day moving average price is $23.97. The firm has a market capitalization of $8.52 billion, a PE ratio of 43.92, a P/E/G ratio of 0.54 and a beta of 0.54. Exelixis has a 1 year low of $19.12 and a 1 year high of $29.75.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.44. The firm had revenue of $637.18 million for the quarter, compared to analyst estimates of $468.21 million. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. As a group, analysts expect that Exelixis will post 1.59 earnings per share for the current year.

Insider Activity at Exelixis

In related news, CFO Christopher J. Senner sold 125,000 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now owns 721,680 shares in the company, valued at approximately $19,622,479.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Dana Aftab sold 95,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 520,990 shares in the company, valued at approximately $13,024,750. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christopher J. Senner sold 125,000 shares of the company’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 sale, the chief financial officer now owns 721,680 shares in the company, valued at approximately $19,622,479.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 327,858 shares of company stock worth $8,640,129. 2.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Exelixis

Several large investors have recently bought and sold shares of EXEL. Fisher Asset Management LLC increased its holdings in Exelixis by 232.6% during the 4th quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 728 shares during the period. V Square Quantitative Management LLC purchased a new stake in Exelixis during the 3rd quarter worth about $30,000. Park Place Capital Corp purchased a new stake in Exelixis during the 2nd quarter worth about $45,000. GAMMA Investing LLC increased its holdings in Exelixis by 107.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 1,041 shares during the period. Finally, EntryPoint Capital LLC increased its holdings in Exelixis by 537.2% during the 1st quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock worth $49,000 after purchasing an additional 1,746 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

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.