Exelixis (NASDAQ:EXEL) Price Target Raised to $47.00 at HC Wainwright

Exelixis (NASDAQ:EXEL) had its price objective hoisted by HC Wainwright from $40.00 to $47.00 in a research report released on Thursday,Benzinga reports. HC Wainwright currently has a buy rating on the biotechnology company’s stock.

EXEL has been the subject of a number of other research reports. JMP Securities reiterated a “market outperform” rating and set a $41.00 target price on shares of Exelixis in a research report on Thursday, April 17th. Stifel Nicolaus raised their price objective on shares of Exelixis from $36.00 to $38.00 and gave the stock a “hold” rating in a report on Wednesday, May 14th. Piper Sandler lifted their price objective on shares of Exelixis from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Royal Bank of Canada reissued an “outperform” rating and set a $40.00 target price on shares of Exelixis in a report on Wednesday, May 14th. Finally, Bank of America raised their price target on Exelixis from $45.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, June 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Exelixis has an average rating of “Moderate Buy” and a consensus price target of $39.76.

Exelixis Stock Performance

NASDAQ EXEL opened at $41.78 on Thursday. Exelixis has a 52-week low of $21.36 and a 52-week high of $48.85. The company has a 50-day simple moving average of $39.54 and a 200 day simple moving average of $36.83. The company has a market capitalization of $11.39 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 1.13 and a beta of 0.28.

Insider Buying and Selling at Exelixis

In other news, EVP Patrick J. Haley sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $42.68, for a total value of $426,800.00. Following the completion of the sale, the executive vice president now directly owns 491,164 shares in the company, valued at approximately $20,962,879.52. The trade was a 2.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Dana Aftab sold 1,508 shares of Exelixis stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $39.00, for a total value of $58,812.00. Following the completion of the transaction, the executive vice president now directly owns 693,181 shares in the company, valued at $27,034,059. This trade represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 458,113 shares of company stock worth $21,024,817 over the last three months. 2.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EXEL. Frank Rimerman Advisors LLC raised its holdings in Exelixis by 4.7% during the 1st quarter. Frank Rimerman Advisors LLC now owns 6,342 shares of the biotechnology company’s stock valued at $234,000 after buying an additional 285 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Exelixis by 6.1% during the 1st quarter. Farther Finance Advisors LLC now owns 5,372 shares of the biotechnology company’s stock valued at $195,000 after buying an additional 307 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in Exelixis by 1.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 17,203 shares of the biotechnology company’s stock valued at $573,000 after buying an additional 317 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Exelixis by 4.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,050 shares of the biotechnology company’s stock valued at $235,000 after buying an additional 330 shares during the last quarter. Finally, Rathbones Group PLC raised its holdings in Exelixis by 5.3% during the 1st quarter. Rathbones Group PLC now owns 6,847 shares of the biotechnology company’s stock valued at $253,000 after buying an additional 347 shares during the last quarter. 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.