Exelixis (NASDAQ:EXEL) Given New $33.00 Price Target at Guggenheim

Exelixis (NASDAQ:EXEL) had its price target lifted by Guggenheim from $32.00 to $33.00 in a research note released on Wednesday, Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

EXEL has been the topic of several other research reports. HC Wainwright reissued a “buy” rating and set a $29.00 price objective on shares of Exelixis in a research note on Wednesday, September 18th. Bank of America lifted their price target on shares of Exelixis from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. The Goldman Sachs Group upgraded shares of Exelixis to a “strong sell” rating in a research report on Tuesday, October 15th. Truist Financial boosted their target price on Exelixis from $33.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Stifel Nicolaus raised their price target on Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $31.44.

Exelixis Stock Performance

Shares of EXEL stock opened at $34.12 on Wednesday. The firm’s 50 day moving average price is $27.13 and its two-hundred day moving average price is $24.29. Exelixis has a 52-week low of $19.20 and a 52-week high of $34.45. The stock has a market cap of $9.74 billion, a PE ratio of 21.87, a PEG ratio of 0.89 and a beta of 0.51.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The business had revenue of $539.50 million for the quarter, compared to analyst estimates of $490.31 million. During the same period last year, the company earned $0.10 EPS. The firm’s revenue was up 14.3% on a year-over-year basis. As a group, sell-side analysts predict that Exelixis will post 1.59 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Dana Aftab sold 95,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $25.00, for a total transaction of $2,375,000.00. Following the transaction, the executive vice president now directly owns 520,990 shares of the company’s stock, valued at approximately $13,024,750. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Exelixis news, EVP Dana Aftab sold 95,000 shares of Exelixis stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total value of $2,375,000.00. Following the completion of the transaction, the executive vice president now directly owns 520,990 shares of the company’s stock, valued at $13,024,750. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maria C. Freire sold 8,250 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were 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 of the company’s stock, valued at $2,417,145.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 354,020 shares of company stock valued at $9,386,366. 2.85% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new stake in Exelixis during the 3rd quarter valued at approximately $30,000. Park Place Capital Corp bought a new position in Exelixis during the second quarter worth $45,000. GAMMA Investing LLC grew its holdings in Exelixis by 107.9% in the second quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 1,041 shares during the period. EntryPoint Capital LLC increased its stake in Exelixis by 537.2% in the first quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock valued at $49,000 after purchasing an additional 1,746 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of Exelixis during the third quarter valued at about $61,000. Institutional investors own 85.27% of the company’s stock.

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.