Exelixis (NASDAQ:EXEL) Price Target Raised to $40.00 at HC Wainwright

Exelixis (NASDAQ:EXEL) had its target price hoisted by HC Wainwright from $29.00 to $40.00 in a research note issued to investors on Friday morning,Benzinga reports. HC Wainwright currently has a buy rating on the biotechnology company’s stock.

Several other research analysts also recently commented on the company. The Goldman Sachs Group raised Exelixis to a “strong sell” rating in a research note on Tuesday, October 15th. JMP Securities reissued a “market outperform” rating and issued a $29.00 price objective on shares of Exelixis in a research note on Friday, October 11th. Truist Financial boosted their target price 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. Piper Sandler increased their price target on Exelixis from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, UBS Group assumed coverage on Exelixis in a research report on Thursday, September 19th. They set a “neutral” rating and a $30.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Exelixis presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.69.

Exelixis Trading Up 4.4 %

NASDAQ EXEL opened at $36.02 on Friday. The firm’s 50 day simple moving average is $34.84 and its 200 day simple moving average is $28.71. The firm has a market capitalization of $10.29 billion, a price-to-earnings ratio of 23.09, a P/E/G ratio of 0.88 and a beta of 0.53. Exelixis has a 1 year low of $20.01 and a 1 year high of $36.97.

Exelixis (NASDAQ:EXEL) last released 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. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The firm had revenue of $539.50 million during the quarter, compared to analysts’ expectations of $490.31 million. During the same period in the prior year, the company earned $0.10 earnings per share. The company’s quarterly revenue was up 14.3% on a year-over-year basis. On average, equities research analysts forecast that Exelixis will post 1.69 earnings per share for the current year.

Insider Transactions at Exelixis

In other Exelixis news, EVP Dana Aftab sold 1,162 shares of Exelixis stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total value of $36,486.80. Following the completion of the sale, the executive vice president now directly owns 498,945 shares in the company, valued at approximately $15,666,873. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Patrick J. Haley sold 10,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $35.27, for a total value of $352,700.00. Following the transaction, the executive vice president now owns 278,665 shares in the company, valued at $9,828,514.55. The trade was a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 314,736 shares of company stock valued at $10,849,110. Corporate insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Several institutional investors have recently made changes to their positions in the stock. Covestor Ltd increased its position in Exelixis by 5.7% in the 3rd quarter. Covestor Ltd now owns 6,335 shares of the biotechnology company’s stock valued at $164,000 after buying an additional 341 shares in the last quarter. Cornercap Investment Counsel Inc. grew its stake in Exelixis by 1.1% in the second quarter. Cornercap Investment Counsel Inc. now owns 50,497 shares of the biotechnology company’s stock valued at $1,135,000 after acquiring an additional 539 shares during the period. Creative Planning increased its holdings in shares of Exelixis by 0.8% during the second quarter. Creative Planning now owns 71,700 shares of the biotechnology company’s stock valued at $1,611,000 after acquiring an additional 548 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Exelixis by 3.2% during the third quarter. Advisors Asset Management Inc. now owns 19,853 shares of the biotechnology company’s stock worth $515,000 after purchasing an additional 609 shares during the period. Finally, Signaturefd LLC lifted its holdings in shares of Exelixis by 12.2% in the 3rd quarter. Signaturefd LLC now owns 6,138 shares of the biotechnology company’s stock worth $159,000 after purchasing an additional 666 shares in the last quarter. Institutional investors and hedge funds 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.