Analysts Set Exelixis, Inc. (NASDAQ:EXEL) PT at $27.43

Shares of Exelixis, Inc. (NASDAQ:EXEL) have received an average recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $27.43.

Several analysts recently issued reports on the company. Truist Financial restated a “buy” rating and issued a $33.00 price target (up from $32.00) on shares of Exelixis in a research note on Thursday, August 8th. StockNews.com raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 13th. Stephens assumed coverage on shares of Exelixis in a research note on Tuesday, May 14th. They issued an “equal weight” rating and a $23.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and set a $27.00 target price on shares of Exelixis in a research report on Wednesday, August 7th. Finally, JMP Securities upped their price objective on shares of Exelixis from $27.00 to $29.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 7th.

Insider Buying and Selling at Exelixis

In other Exelixis news, Director Maria C. Freire sold 8,250 shares of Exelixis stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $26.56, for a total transaction of $219,120.00. Following the completion of the transaction, the director now owns 91,007 shares in the company, valued at approximately $2,417,145.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Exelixis news, CFO Christopher J. Senner sold 125,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $27.19, for a total transaction of $3,398,750.00. Following the sale, the chief financial officer now owns 721,680 shares of the company’s stock, valued at approximately $19,622,479.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Maria C. Freire sold 8,250 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $26.56, for a total value of $219,120.00. Following the completion of the transaction, the director now directly owns 91,007 shares of the company’s stock, valued at $2,417,145.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 302,858 shares of company stock valued at $7,980,629. Corporate insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Several institutional investors and hedge funds have recently made changes to their positions in EXEL. GAMMA Investing LLC purchased a new position in Exelixis during the 4th quarter valued at $27,000. Truist Financial Corp purchased a new stake in Exelixis in the fourth quarter worth $218,000. Victory Capital Management Inc. grew its stake in shares of Exelixis by 132.1% in the 4th quarter. Victory Capital Management Inc. now owns 130,731 shares of the biotechnology company’s stock worth $3,136,000 after buying an additional 74,410 shares during the last quarter. Fisher Asset Management LLC increased its position in Exelixis by 232.6% during the 4th quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 728 shares in the last quarter. Finally, Amalgamated Bank raised its position in shares of Exelixis by 3.3% in the 4th quarter. Amalgamated Bank now owns 231,909 shares of the biotechnology company’s stock worth $5,563,000 after purchasing an additional 7,476 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Exelixis Stock Performance

Exelixis stock opened at $25.15 on Monday. The stock has a 50-day simple moving average of $24.31 and a 200 day simple moving average of $22.99. The stock has a market capitalization of $7.63 billion, a P/E ratio of 39.30, a PEG ratio of 0.50 and a beta of 0.54. Exelixis has a 52 week low of $18.64 and a 52 week high of $27.53.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.44. The firm had revenue of $637.18 million during the quarter, compared to analysts’ expectations of $468.21 million. Exelixis had a net margin of 17.38% and a return on equity of 15.54%. Research analysts forecast that Exelixis will post 1.54 earnings per share for the current year.

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.