Exelixis (NASDAQ:EXEL) Stock Price Expected to Rise, Piper Sandler Analyst Says

Exelixis (NASDAQ:EXEL) had its price objective increased by equities researchers at Piper Sandler from $37.00 to $38.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the biotechnology company’s stock. Piper Sandler’s price target suggests a potential upside of 8.13% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Morgan Stanley upgraded shares of Exelixis from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $30.00 to $40.00 in a report on Monday, January 27th. StockNews.com lowered Exelixis from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. BMO Capital Markets cut Exelixis from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $36.00 to $40.00 in a report on Friday, December 20th. UBS Group upped their target price on Exelixis from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Finally, Stifel Nicolaus increased their price target on Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Exelixis has a consensus rating of “Moderate Buy” and an average target price of $36.13.

Exelixis Stock Performance

EXEL opened at $35.14 on Wednesday. The company has a market capitalization of $10.04 billion, a PE ratio of 22.38, a P/E/G ratio of 0.63 and a beta of 0.53. The stock’s fifty day moving average is $34.30 and its 200-day moving average is $30.71. Exelixis has a one year low of $20.14 and a one year high of $37.59.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a return on equity of 20.99% and a net margin of 22.43%. On average, equities research analysts forecast that Exelixis will post 1.74 EPS for the current fiscal year.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 41,588 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.36, for a total value of $1,428,963.68. Following the completion of the sale, the executive vice president now directly owns 288,665 shares of the company’s stock, valued at $9,918,529.40. The trade was a 12.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the transaction, the executive vice president now owns 486,059 shares in the company, valued at approximately $17,823,783.53. This trade represents a 10.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,588 shares of company stock valued at $3,981,864 in the last quarter. Company insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

Large investors have recently made changes to their positions in the stock. Principal Securities Inc. raised its stake in shares of Exelixis by 62.8% in the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 373 shares in the last quarter. USA Financial Formulas acquired a new position in Exelixis during the fourth quarter valued at approximately $32,000. V Square Quantitative Management LLC bought a new position in shares of Exelixis in the third quarter valued at approximately $30,000. Kestra Investment Management LLC acquired a new stake in shares of Exelixis in the fourth quarter worth $39,000. Finally, UMB Bank n.a. boosted its holdings in shares of Exelixis by 68.4% during the 4th quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock worth $45,000 after buying an additional 553 shares during the period. Institutional investors own 85.27% of the company’s stock.

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.