Exelixis (NASDAQ:EXEL) Price Target Raised to $38.00

Exelixis (NASDAQ:EXEL) had its price objective raised by Stifel Nicolaus from $36.00 to $38.00 in a report released on Wednesday morning,Benzinga reports. They currently have a hold rating on the biotechnology company’s stock.

Other analysts also recently issued reports about the stock. Guggenheim reissued a “buy” rating and set a $42.00 price target on shares of Exelixis in a report on Wednesday, February 12th. Barclays increased their target price on shares of Exelixis from $25.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 13th. Morgan Stanley restated an “overweight” rating and issued a $47.00 price target (up previously from $40.00) on shares of Exelixis in a research note on Wednesday. Oppenheimer cut Exelixis from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $41.00 to $33.00 in a report on Friday, January 24th. Finally, Royal Bank of Canada raised their price objective on Exelixis from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Exelixis has a consensus rating of “Moderate Buy” and a consensus target price of $38.76.

Exelixis Stock Down 1.9%

Exelixis stock opened at $45.40 on Wednesday. The business’s 50-day moving average price is $37.23 and its 200 day moving average price is $35.80. The firm has a market cap of $12.51 billion, a price-to-earnings ratio of 25.65, a price-to-earnings-growth ratio of 1.13 and a beta of 0.25. Exelixis has a 52 week low of $20.14 and a 52 week high of $48.85.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. Equities analysts expect that Exelixis will post 2.04 EPS for the current year.

Insider Activity at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 52,636 shares of Exelixis stock in a transaction on Monday, February 24th. The shares were sold at an average price of $36.98, for a total transaction of $1,946,479.28. Following the sale, the executive vice president now owns 303,310 shares of the company’s stock, valued at $11,216,403.80. The trade was a 14.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Christopher J. Senner sold 29,314 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $36.14, for a total transaction of $1,059,407.96. Following the completion of the sale, the chief financial officer now owns 779,607 shares of the company’s stock, valued at $28,174,996.98. This trade represents a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 520,942 shares of company stock valued at $22,930,002. 2.82% of the stock is owned by insiders.

Institutional Trading of Exelixis

A number of hedge funds have recently bought and sold shares of the business. Blue Trust Inc. grew its position in shares of Exelixis by 134.7% in the fourth quarter. Blue Trust Inc. now owns 14,302 shares of the biotechnology company’s stock valued at $476,000 after purchasing an additional 8,208 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Exelixis during the fourth quarter worth $17,046,000. Allspring Global Investments Holdings LLC grew its holdings in Exelixis by 82.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company’s stock valued at $52,884,000 after buying an additional 704,786 shares in the last quarter. Inspire Investing LLC increased its stake in shares of Exelixis by 25.0% in the 4th quarter. Inspire Investing LLC now owns 36,659 shares of the biotechnology company’s stock worth $1,221,000 after acquiring an additional 7,331 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Exelixis by 4.6% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 505,289 shares of the biotechnology company’s stock worth $16,826,000 after acquiring an additional 22,225 shares during the last quarter. Institutional investors and hedge funds 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.