Analysts Set Exelixis, Inc. (NASDAQ:EXEL) Price Target at $47.00

Exelixis, Inc. (NASDAQ:EXEL) has earned an average rating of “Hold” from the twenty-three research firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $47.00.

A number of brokerages have issued reports on EXEL. Barclays boosted their price objective on shares of Exelixis from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, April 20th. Wells Fargo & Company raised their target price on shares of Exelixis from $30.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 11th. HC Wainwright lifted their target price on shares of Exelixis from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Wall Street Zen cut shares of Exelixis from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 18th. Finally, Royal Bank Of Canada decreased their price target on shares of Exelixis from $46.00 to $43.00 and set a “sector perform” rating for the company in a research note on Monday, March 2nd.

Exelixis Stock Performance

NASDAQ EXEL opened at $44.65 on Friday. The stock has a market cap of $11.34 billion, a P/E ratio of 16.12, a price-to-earnings-growth ratio of 1.01 and a beta of 0.42. Exelixis has a fifty-two week low of $33.76 and a fifty-two week high of $49.62. The stock has a 50 day simple moving average of $43.28 and a two-hundred day simple moving average of $42.70.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.20. The firm had revenue of $598.66 million for the quarter, compared to analysts’ expectations of $609.17 million. Exelixis had a return on equity of 36.29% and a net margin of 33.73%.The business’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.55 earnings per share. Sell-side analysts predict that Exelixis will post 3.06 earnings per share for the current year.

Insider Transactions at Exelixis

In related news, Director Jack L. Wyszomierski sold 99,574 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $44.01, for a total value of $4,382,251.74. Following the sale, the director directly owned 279,942 shares of the company’s stock, valued at $12,320,247.42. This represents a 26.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Christopher J. Senner sold 34,278 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $43.00, for a total value of $1,473,954.00. Following the completion of the transaction, the chief financial officer owned 1,042,579 shares of the company’s stock, valued at approximately $44,830,897. This trade represents a 3.18% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 362,849 shares of company stock worth $15,917,463. 2.85% of the stock is owned by insiders.

Institutional Trading of Exelixis

Hedge funds and other institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Exelixis by 81.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,181 shares of the biotechnology company’s stock valued at $1,592,000 after acquiring an additional 19,407 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Exelixis by 4.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company’s stock valued at $54,153,000 after purchasing an additional 68,133 shares in the last quarter. Focus Partners Wealth increased its stake in shares of Exelixis by 83.4% during the first quarter. Focus Partners Wealth now owns 38,458 shares of the biotechnology company’s stock valued at $1,420,000 after purchasing an additional 17,483 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Exelixis by 134.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company’s stock valued at $61,000 after purchasing an additional 944 shares during the last quarter. Finally, Sivia Capital Partners LLC boosted its position in shares of Exelixis by 23.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 14,362 shares of the biotechnology company’s stock worth $633,000 after purchasing an additional 2,764 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Company Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.