Guggenheim Increases Exelixis (NASDAQ:EXEL) Price Target to $33.00

Exelixis (NASDAQ:EXEL) had its price objective boosted by equities researchers at Guggenheim from $32.00 to $33.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Guggenheim’s price objective would indicate a potential downside of 0.60% from the stock’s previous close.

Several other research firms also recently commented on EXEL. Stifel Nicolaus increased their price objective on Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Piper Sandler increased their price objective on Exelixis from $33.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday. TD Cowen increased their price objective on Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a report on Monday, October 21st. JMP Securities restated a “market outperform” rating and issued a $29.00 price target on shares of Exelixis in a research note on Friday, October 11th. Finally, 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 note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $31.44.

Exelixis Stock Up 2.3 %

NASDAQ:EXEL opened at $33.20 on Wednesday. Exelixis has a twelve month low of $19.20 and a twelve month high of $33.60. The business has a 50 day moving average price of $26.96 and a two-hundred day moving average price of $24.21. The company has a market cap of $9.47 billion, a P/E ratio of 28.62, a price-to-earnings-growth ratio of 0.61 and a beta of 0.54.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.44. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. The firm had revenue of $637.18 million during the quarter, compared to the consensus estimate of $468.21 million. As a group, analysts anticipate that Exelixis will post 1.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Dana Aftab sold 95,000 shares of the firm’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 transaction, the executive vice president now owns 520,990 shares in the company, valued at approximately $13,024,750. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Dana Aftab sold 95,000 shares of Exelixis stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total transaction of $2,375,000.00. Following the sale, the executive vice president now directly owns 520,990 shares of the company’s stock, valued at approximately $13,024,750. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey Hessekiel sold 25,000 shares of Exelixis stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $28.39, for a total value of $709,750.00. Following the sale, the executive vice president now directly owns 580,325 shares in the company, valued at $16,475,426.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 352,858 shares of company stock worth $9,349,879. Company insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

A number of hedge funds have recently added to or reduced their stakes in EXEL. Resonant Capital Advisors LLC grew its stake in shares of Exelixis by 3.6% during the 2nd quarter. Resonant Capital Advisors LLC now owns 13,746 shares of the biotechnology company’s stock worth $309,000 after acquiring an additional 477 shares during the period. Cornercap Investment Counsel Inc. raised its holdings in shares of Exelixis by 1.1% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 50,497 shares of the biotechnology company’s stock valued at $1,135,000 after buying an additional 539 shares in the last quarter. Creative Planning grew its position in Exelixis by 0.8% during the 2nd quarter. Creative Planning now owns 71,700 shares of the biotechnology company’s stock worth $1,611,000 after acquiring an additional 548 shares during the last quarter. Signaturefd LLC grew its position in Exelixis by 12.2% during the 3rd quarter. Signaturefd LLC now owns 6,138 shares of the biotechnology company’s stock worth $159,000 after acquiring an additional 666 shares during the last quarter. Finally, Tidal Investments LLC grew its position in Exelixis by 10.0% during the 1st quarter. Tidal Investments LLC now owns 9,710 shares of the biotechnology company’s stock worth $230,000 after acquiring an additional 886 shares during the last quarter. 85.27% of the stock is currently owned by 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.