Exelixis (NASDAQ:EXEL) Price Target Raised to $36.00 at Wells Fargo & Company

Exelixis (NASDAQ:EXEL) had its price objective raised by Wells Fargo & Company from $32.00 to $36.00 in a report released on Wednesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the biotechnology company’s stock.

Other research analysts also recently issued research reports about the stock. UBS Group assumed coverage on shares of Exelixis in a research report on Thursday, September 19th. They issued a “neutral” rating and a $30.00 target price for the company. TD Cowen raised their price objective on Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a report on Monday, October 21st. Oppenheimer reiterated an “outperform” rating and set a $29.00 target price on shares of Exelixis in a report on Tuesday, July 30th. Bank of America raised their price target on Exelixis from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, JMP Securities reiterated a “market outperform” rating and set a $29.00 price objective on shares of Exelixis in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.44.

Exelixis Price Performance

EXEL opened at $32.44 on Wednesday. The company has a market capitalization of $9.25 billion, a price-to-earnings ratio of 27.97, a P/E/G ratio of 0.61 and a beta of 0.54. The business’s 50-day moving average price is $26.81 and its two-hundred day moving average price is $24.15. Exelixis has a 1 year low of $19.20 and a 1 year high of $33.32.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.44. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. The business had revenue of $637.18 million for the quarter, compared to analyst estimates of $468.21 million. Sell-side analysts anticipate that Exelixis will post 1.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Exelixis news, Director Maria C. Freire sold 8,250 shares of the company’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 transaction, the director now directly owns 91,007 shares of the company’s stock, valued at $2,417,145.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Exelixis news, Director Maria C. Freire sold 8,250 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $26.56, for a total value of $219,120.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Christopher J. Senner sold 125,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $27.19, for a total transaction of $3,398,750.00. Following the transaction, the chief financial officer now directly owns 721,680 shares in the company, valued at $19,622,479.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 352,858 shares of company stock valued at $9,349,879. Insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

A number of institutional investors have recently modified their holdings of the stock. Farallon Capital Management LLC raised its stake in Exelixis by 1.6% in the second quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock valued at $608,993,000 after purchasing an additional 424,000 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Exelixis by 0.4% in the 2nd quarter. Renaissance Technologies LLC now owns 15,163,066 shares of the biotechnology company’s stock valued at $340,714,000 after buying an additional 61,350 shares during the period. LSV Asset Management raised its position in shares of Exelixis by 107.7% in the 2nd quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock valued at $129,511,000 after buying an additional 2,989,021 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Exelixis by 7.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,137,201 shares of the biotechnology company’s stock worth $115,434,000 after acquiring an additional 349,837 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of Exelixis by 12.7% during the 2nd quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock worth $73,425,000 after acquiring an additional 370,199 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

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.