Exelixis (NASDAQ:EXEL) PT Lowered to $24.00

Exelixis (NASDAQ:EXELGet Rating) had its target price reduced by equities researchers at JMP Securities from $25.00 to $24.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “market outperform” rating on the biotechnology company’s stock. JMP Securities’ price target suggests a potential upside of 43.45% from the company’s current price.

Several other research analysts have also weighed in on the stock. EF Hutton Acquisition Co. I lowered their price objective on shares of Exelixis from $28.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, January 11th. StockNews.com started coverage on shares of Exelixis in a report on Wednesday, October 12th. They set a “buy” rating for the company. Truist Financial cut their price target on shares of Exelixis from $35.00 to $32.00 in a report on Friday, December 9th. Cowen lowered their price objective on shares of Exelixis from $21.00 to $20.00 in a research report on Monday, January 9th. Finally, Royal Bank of Canada lowered their price objective on shares of Exelixis from $31.00 to $29.00 and set an “outperform” rating for the company in a research report on Wednesday, November 2nd. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.45.

Exelixis Trading Up 1.2 %

EXEL opened at $16.73 on Thursday. The stock has a market capitalization of $5.40 billion, a P/E ratio of 17.61, a P/E/G ratio of 0.55 and a beta of 0.69. Exelixis has a 12 month low of $14.87 and a 12 month high of $23.40. The firm’s fifty day simple moving average is $16.45 and its 200 day simple moving average is $17.66.

Exelixis (NASDAQ:EXELGet Rating) last posted its quarterly earnings data on Tuesday, November 1st. The biotechnology company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.18 by $0.05. The business had revenue of $411.74 million for the quarter, compared to analysts’ expectations of $404.15 million. Exelixis had a net margin of 18.78% and a return on equity of 13.11%. On average, equities research analysts predict that Exelixis will post 0.53 EPS for the current fiscal year.

Insider Activity at Exelixis

In related news, EVP Peter Lamb sold 20,000 shares of the firm’s stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $15.88, for a total transaction of $317,600.00. Following the transaction, the executive vice president now directly owns 410,958 shares of the company’s stock, valued at $6,526,013.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director George Poste sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, November 29th. The shares were sold at an average price of $16.68, for a total transaction of $667,200.00. Following the transaction, the director now directly owns 193,189 shares of the company’s stock, valued at $3,222,392.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Lamb sold 20,000 shares of the firm’s stock in a transaction dated Thursday, December 15th. The stock was sold at an average price of $15.88, for a total transaction of $317,600.00. Following the sale, the executive vice president now owns 410,958 shares of the company’s stock, valued at approximately $6,526,013.04. The disclosure for this sale can be found here. 2.90% of the stock is owned by insiders.

Institutional Trading of Exelixis

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in Exelixis by 1.0% during the third quarter. BlackRock Inc. now owns 33,895,320 shares of the biotechnology company’s stock worth $531,477,000 after buying an additional 338,589 shares during the last quarter. Vanguard Group Inc. increased its holdings in Exelixis by 0.7% during the third quarter. Vanguard Group Inc. now owns 31,284,832 shares of the biotechnology company’s stock worth $490,546,000 after buying an additional 220,099 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Exelixis by 5.5% in the second quarter. Renaissance Technologies LLC now owns 17,783,937 shares of the biotechnology company’s stock worth $370,262,000 after purchasing an additional 921,659 shares in the last quarter. FMR LLC increased its stake in shares of Exelixis by 1.1% in the second quarter. FMR LLC now owns 17,397,286 shares of the biotechnology company’s stock worth $362,212,000 after purchasing an additional 197,254 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Exelixis by 3.4% in the third quarter. State Street Corp now owns 13,019,900 shares of the biotechnology company’s stock worth $204,152,000 after purchasing an additional 423,520 shares in the last quarter. Hedge funds and other institutional investors own 84.74% of the company’s stock.

About Exelixis

(Get Rating)

Exelixis, Inc is a biopharmaceutical company, which engages in the development, commercialization, and discovery of new medicines for the treatment of cancer. It offers products under the brands of COMETRIQ, CABOMETYX, COTELLIC, and MINNEBRO. The company was founded by Corey S. Goodman and Stelios B.

Further Reading

Analyst Recommendations for Exelixis (NASDAQ:EXEL)

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