Exelixis (NASDAQ:EXEL) Price Target Raised to $41.00

Exelixis (NASDAQ:EXEL) had its price target increased by Stifel Nicolaus from $38.00 to $41.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a hold rating on the biotechnology company’s stock.

Other equities analysts also recently issued reports about the company. Morgan Stanley boosted their price objective on Exelixis from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 22nd. JMP Securities boosted their price objective on Exelixis from $47.00 to $50.00 and gave the stock a “market outperform” rating in a research report on Monday, June 23rd. Jefferies Financial Group set a $50.00 price objective on Exelixis and gave the stock a “buy” rating in a research report on Tuesday, June 24th. Citigroup boosted their target price on Exelixis from $45.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Finally, HC Wainwright boosted their target price on Exelixis from $47.00 to $53.00 and gave the stock a “buy” rating in a report on Monday, June 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $44.44.

Exelixis Stock Down 1.7%

Shares of EXEL stock opened at $36.22 on Tuesday. The business has a 50 day moving average of $43.03 and a two-hundred day moving average of $38.89. Exelixis has a 52 week low of $23.13 and a 52 week high of $49.62. The company has a market cap of $9.75 billion, a P/E ratio of 17.41, a PEG ratio of 0.74 and a beta of 0.28.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Monday, July 28th. The biotechnology company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.12. Exelixis had a return on equity of 27.47% and a net margin of 27.01%. The company had revenue of $568.26 million during the quarter, compared to the consensus estimate of $574.36 million. During the same period in the previous year, the firm posted $0.84 earnings per share. Exelixis’s quarterly revenue was down 10.8% compared to the same quarter last year. Analysts expect that Exelixis will post 2.04 EPS for the current fiscal year.

Insider Buying and Selling

In other Exelixis news, CMO Amy C. Peterson sold 72,776 shares of the business’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $45.47, for a total transaction of $3,309,124.72. Following the sale, the chief marketing officer directly owned 465,393 shares of the company’s stock, valued at $21,161,419.71. The trade was a 13.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Patrick J. Haley sold 126,383 shares of the business’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $47.96, for a total transaction of $6,061,328.68. Following the sale, the executive vice president directly owned 446,459 shares in the company, valued at approximately $21,412,173.64. This trade represents a 22.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 456,605 shares of company stock valued at $20,966,005 in the last three months. Insiders own 2.82% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Several institutional investors and hedge funds have recently modified their holdings of EXEL. Coppell Advisory Solutions LLC purchased a new position in shares of Exelixis during the 4th quarter valued at $25,000. Hemington Wealth Management grew its holdings in shares of Exelixis by 211.3% during the 1st quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 522 shares in the last quarter. Colonial Trust Co SC grew its holdings in shares of Exelixis by 616.9% during the 4th quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company’s stock valued at $30,000 after acquiring an additional 765 shares in the last quarter. Byrne Asset Management LLC grew its holdings in shares of Exelixis by 129.0% during the 2nd quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 400 shares in the last quarter. Finally, Family Legacy Financial Solutions LLC purchased a new position in shares of Exelixis during the 2nd quarter valued at $33,000. 85.27% of the stock is currently 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.