Exelixis (NASDAQ:EXEL) Upgraded to “Overweight” at Stephens

Stephens upgraded shares of Exelixis (NASDAQ:EXEL) from an equal weight rating to an overweight rating in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage currently has $60.00 price target on the biotechnology company’s stock, up from their previous price target of $29.00.

Several other research analysts also recently weighed in on the company. JMP Securities boosted their target price on Exelixis from $47.00 to $50.00 and gave the stock a “market outperform” rating in a research note on Monday. Truist Financial reissued a “buy” rating and issued a $55.00 price target (up previously from $43.00) on shares of Exelixis in a report on Monday. Wells Fargo & Company restated a “market outperform” rating on shares of Exelixis in a research note on Thursday, April 17th. Guggenheim set a $45.00 price objective on shares of Exelixis and gave the company a “buy” rating in a research report on Thursday, May 15th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $40.00 target price on shares of Exelixis in a research note on Wednesday, May 14th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $42.82.

Exelixis Trading Up 5.4%

NASDAQ EXEL opened at $45.72 on Tuesday. The firm’s fifty day simple moving average is $40.64 and its two-hundred day simple moving average is $37.17. The firm has a market capitalization of $12.47 billion, a P/E ratio of 20.78, a P/E/G ratio of 0.88 and a beta of 0.28. Exelixis has a 12-month low of $21.82 and a 12-month high of $49.62.

Insider Activity

In related news, EVP Patrick J. Haley sold 126,383 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $47.96, for a total transaction of $6,061,328.68. Following the sale, the executive vice president now directly owns 446,459 shares of the company’s stock, valued at $21,412,173.64. This trade represents a 22.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dana Aftab sold 1,508 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The shares were 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 of the company’s stock, valued at $27,034,059. The trade was a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 458,113 shares of company stock valued at $21,024,817 in the last ninety days. Insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

A number of hedge funds have recently added to or reduced their stakes in the company. Coppell Advisory Solutions LLC purchased a new position in Exelixis in the fourth quarter valued at $25,000. Hemington Wealth Management increased its stake in shares of Exelixis by 211.3% in the 1st quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 522 shares in the last quarter. Colonial Trust Co SC increased its stake in shares of Exelixis by 616.9% in the 4th quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 765 shares in the last quarter. Principal Securities Inc. raised its holdings in Exelixis by 62.8% in the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 373 shares during the period. Finally, Bartlett & CO. Wealth Management LLC purchased a new position in Exelixis during the first quarter worth approximately $37,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

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.