Exelixis (NASDAQ:EXEL) Reaches New 12-Month High – What’s Next?

Shares of Exelixis, Inc. (NASDAQ:EXEL) hit a new 52-week high during trading on Tuesday . The stock traded as high as $34.89 and last traded at $34.85, with a volume of 572714 shares trading hands. The stock had previously closed at $34.29.

Wall Street Analyst Weigh In

EXEL has been the topic of several research analyst reports. Truist Financial boosted their price target on shares of Exelixis from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Stephens raised their price target on Exelixis from $23.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. BMO Capital Markets raised their price objective on Exelixis from $29.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Guggenheim upped their price target on shares of Exelixis from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley raised their price objective on Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.44.

Exelixis Stock Up 0.8 %

The company’s fifty day moving average is $27.67 and its 200 day moving average is $24.56. The stock has a market cap of $10.22 billion, a PE ratio of 22.76, a price-to-earnings-growth ratio of 0.87 and a beta of 0.51.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. The company had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The company’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 earnings per share. Equities analysts expect that Exelixis, Inc. will post 1.68 EPS for the current year.

Insider Transactions at Exelixis

In related news, CFO Christopher J. Senner sold 125,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $27.19, for a total value of $3,398,750.00. Following the completion of the sale, the chief financial officer now directly owns 721,680 shares of the company’s stock, valued at $19,622,479.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other 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 completion of the transaction, the chief financial officer now owns 721,680 shares of the company’s stock, valued at approximately $19,622,479.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Maria C. Freire sold 8,250 shares of the 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 approximately $2,417,145.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 305,295 shares of company stock valued at $8,831,001. 2.85% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Exelixis

Large investors have recently made changes to their positions in the business. LSV Asset Management boosted its stake in Exelixis by 107.7% in the 2nd quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock worth $129,511,000 after purchasing an additional 2,989,021 shares during the period. Jupiter Asset Management Ltd. lifted its stake in shares of Exelixis by 148.2% in the first quarter. Jupiter Asset Management Ltd. now owns 2,267,894 shares of the biotechnology company’s stock worth $53,817,000 after buying an additional 1,354,062 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in Exelixis by 124.0% during the third quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock valued at $46,473,000 after acquiring an additional 991,494 shares during the period. Swedbank AB bought a new stake in Exelixis during the 1st quarter valued at approximately $22,455,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Exelixis in the first quarter worth $10,906,000. 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.