HC Wainwright Issues Positive Forecast for Exelixis (NASDAQ:EXEL) Stock Price

Exelixis (NASDAQ:EXEL) had its price target boosted by HC Wainwright from $49.00 to $52.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

EXEL has been the subject of a number of other reports. Wells Fargo & Company reduced their price objective on shares of Exelixis from $36.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 21st. Truist Financial set a $51.00 target price on shares of Exelixis in a report on Wednesday, January 14th. Stifel Nicolaus set a $43.00 price target on Exelixis in a report on Wednesday, November 5th. Guggenheim lowered Exelixis from a “buy” rating to a “neutral” rating in a research note on Monday, November 3rd. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $45.00 target price on shares of Exelixis in a research report on Tuesday, October 21st. Eleven analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $45.95.

Exelixis Stock Up 0.3%

Shares of EXEL opened at $43.74 on Tuesday. The business has a 50-day simple moving average of $43.76 and a two-hundred day simple moving average of $41.07. Exelixis has a 52 week low of $32.30 and a 52 week high of $49.62. The stock has a market cap of $11.73 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 0.79 and a beta of 0.40.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.10. The company had revenue of $597.76 million during the quarter, compared to the consensus estimate of $590.04 million. Exelixis had a return on equity of 31.06% and a net margin of 29.63%.The firm’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 EPS. On average, equities analysts anticipate that Exelixis will post 2.04 earnings per share for the current fiscal year.

Insider Transactions at Exelixis

In related news, EVP Patrick J. Haley sold 34,187 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $41.88, for a total value of $1,431,751.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary C. Beckerle sold 24,622 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $41.93, for a total transaction of $1,032,400.46. Following the sale, the director directly owned 21,380 shares in the company, valued at approximately $896,463.40. The trade was a 53.52% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 245,235 shares of company stock worth $10,490,600. 2.85% of the stock is owned by corporate insiders.

Institutional Trading of Exelixis

Large investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Exelixis by 81.6% in 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 last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Exelixis by 4.9% in the 1st 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 during the last quarter. Focus Partners Wealth boosted its holdings in shares of Exelixis by 83.4% in the 1st quarter. Focus Partners Wealth now owns 38,458 shares of the biotechnology company’s stock worth $1,420,000 after purchasing an additional 17,483 shares during the period. Geneos Wealth Management Inc. increased its position in shares of Exelixis by 134.3% during the 1st 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 raised its holdings in Exelixis by 23.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 14,362 shares of the biotechnology company’s stock valued at $633,000 after buying an additional 2,764 shares during the period. 85.27% of the stock is currently owned by 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.