Exelixis (NASDAQ:EXEL) Price Target Raised to $36.00

Exelixis (NASDAQ:EXEL) had its price objective boosted by Wells Fargo & Company from $32.00 to $36.00 in a research report released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

Other analysts have also recently issued reports about the company. TD Cowen lifted their price objective on Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Oppenheimer reissued an “outperform” rating and issued a $29.00 price target on shares of Exelixis in a research report on Tuesday, July 30th. Bank of America boosted their price target on Exelixis from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. The Goldman Sachs Group raised Exelixis to a “strong sell” rating in a research report on Tuesday, October 15th. Finally, JMP Securities reissued a “market outperform” rating and issued a $29.00 price target on shares of Exelixis in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.44.

Exelixis Stock Performance

Exelixis stock opened at $34.12 on Wednesday. The stock’s 50 day simple moving average is $27.13 and its two-hundred day simple moving average is $24.29. The stock has a market cap of $9.74 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 0.89 and a beta of 0.51. Exelixis has a fifty-two week low of $19.20 and a fifty-two week high of $34.45.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. The business had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The business’s revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 EPS. On average, analysts predict that Exelixis will post 1.59 earnings per share for the current year.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Dana Aftab sold 95,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $25.00, for a total transaction of $2,375,000.00. Following the completion of the sale, the executive vice president now directly owns 520,990 shares in the company, 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other Exelixis news, EVP Dana Aftab sold 95,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $25.00, for a total transaction of $2,375,000.00. Following the completion of the sale, the executive vice president now directly owns 520,990 shares in the company, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeffrey Hessekiel sold 20,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $25.79, for a total transaction of $515,800.00. Following the sale, the executive vice president now owns 630,325 shares of the company’s stock, valued at approximately $16,256,081.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 354,020 shares of company stock worth $9,386,366. Insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Covestor Ltd increased its position in Exelixis by 5.7% in the third quarter. Covestor Ltd now owns 6,335 shares of the biotechnology company’s stock worth $164,000 after buying an additional 341 shares in the last quarter. CWA Asset Management Group LLC purchased a new stake in Exelixis in the 3rd quarter worth approximately $577,000. Capital Performance Advisors LLP purchased a new stake in Exelixis in the 3rd quarter worth approximately $61,000. Heritage Investors Management Corp bought a new stake in Exelixis during the 3rd quarter worth approximately $201,000. Finally, Capital Management Corp VA lifted its holdings in Exelixis by 7.5% during the third quarter. Capital Management Corp VA now owns 365,270 shares of the biotechnology company’s stock valued at $9,479,000 after purchasing an additional 25,350 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

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.