Exelixis, Inc. (NASDAQ:EXEL) Receives $37.24 Average Price Target from Brokerages

Exelixis, Inc. (NASDAQ:EXEL) has earned an average rating of “Moderate Buy” from the twenty analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $37.24.

A number of research analysts have weighed in on EXEL shares. BMO Capital Markets lowered Exelixis from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $36.00 to $40.00 in a research note on Friday, December 20th. Morgan Stanley raised Exelixis from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $30.00 to $40.00 in a research note on Monday, January 27th. Stephens restated an “equal weight” rating and issued a $29.00 price target on shares of Exelixis in a report on Wednesday, February 12th. Stifel Nicolaus increased their price objective on shares of Exelixis from $30.00 to $36.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. Finally, StockNews.com upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 19th.

Insider Transactions at Exelixis

In other news, Director Jack L. Wyszomierski sold 8,768 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $37.80, for a total value of $331,430.40. Following the completion of the transaction, the director now directly owns 356,605 shares in the company, valued at approximately $13,479,669. This represents a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary C. Beckerle sold 12,210 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $34.88, for a total transaction of $425,884.80. Following the sale, the director now directly owns 30,406 shares of the company’s stock, valued at approximately $1,060,561.28. The trade was a 28.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 130,343 shares of company stock valued at $4,789,234 over the last quarter. Company insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

Large investors have recently modified their holdings of the business. Invesco Ltd. lifted its stake in shares of Exelixis by 308.1% in the fourth quarter. Invesco Ltd. now owns 3,975,241 shares of the biotechnology company’s stock worth $132,376,000 after acquiring an additional 3,001,204 shares in the last quarter. Norges Bank purchased a new stake in Exelixis during the 4th quarter worth approximately $94,867,000. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Exelixis by 330.4% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,484,395 shares of the biotechnology company’s stock valued at $82,730,000 after purchasing an additional 1,907,167 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Exelixis by 104.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,159,395 shares of the biotechnology company’s stock valued at $105,208,000 after buying an additional 1,613,482 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its position in shares of 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 worth $46,473,000 after buying an additional 991,494 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Exelixis Trading Up 2.8 %

Exelixis stock opened at $38.69 on Monday. The stock has a 50-day moving average price of $34.53 and a 200 day moving average price of $31.62. Exelixis has a 52 week low of $20.14 and a 52 week high of $38.72. The stock has a market cap of $10.83 billion, a PE ratio of 21.86, a P/E/G ratio of 1.13 and a beta of 0.53.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. On average, equities analysts predict that Exelixis will post 2.04 EPS for the current year.

About Exelixis

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.