Exelixis (NASDAQ:EXEL) Price Target Raised to $36.00

Exelixis (NASDAQ:EXEL) had its price objective lifted by Stifel Nicolaus from $30.00 to $36.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a hold rating on the biotechnology company’s stock.

EXEL has been the subject of several other research reports. The Goldman Sachs Group upgraded Exelixis to a “strong sell” rating in a research note on Tuesday, October 15th. Morgan Stanley upgraded Exelixis from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $30.00 to $40.00 in a research note on Monday, January 27th. Oppenheimer cut Exelixis from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $41.00 to $33.00 in a research note on Friday, January 24th. UBS Group boosted their target price on Exelixis from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Finally, Stephens reiterated an “equal weight” rating and issued a $29.00 price objective on shares of Exelixis in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.24.

Exelixis Stock Performance

Shares of Exelixis stock opened at $35.00 on Wednesday. Exelixis has a one year low of $20.14 and a one year high of $37.59. The company has a market cap of $10.00 billion, a PE ratio of 22.44, a P/E/G ratio of 0.63 and a beta of 0.53. The business has a 50-day simple moving average of $34.19 and a 200-day simple moving average of $30.83.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share 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, sell-side analysts predict that Exelixis will post 1.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Patrick J. Haley sold 10,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $35.27, for a total transaction of $352,700.00. Following the transaction, the executive vice president now owns 278,665 shares of the company’s stock, valued at $9,828,514.55. This represents a 3.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the transaction, the executive vice president now directly owns 486,059 shares in the company, valued at $17,823,783.53. This represents a 10.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,588 shares of company stock valued at $3,981,864 over the last quarter. Company insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Caisse DE Depot ET Placement DU Quebec grew its holdings in Exelixis by 330.4% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,484,395 shares of the biotechnology company’s stock worth $82,730,000 after acquiring an additional 1,907,167 shares during the period. Comerica Bank grew its holdings in Exelixis by 0.6% in the fourth quarter. Comerica Bank now owns 87,681 shares of the biotechnology company’s stock valued at $2,920,000 after purchasing an additional 544 shares during the last quarter. AQR Capital Management LLC grew its holdings in Exelixis by 25.7% in the fourth quarter. AQR Capital Management LLC now owns 3,967,005 shares of the biotechnology company’s stock valued at $132,101,000 after purchasing an additional 810,857 shares during the last quarter. Northern Trust Corp grew its holdings in Exelixis by 25.7% in the fourth quarter. Northern Trust Corp now owns 2,478,460 shares of the biotechnology company’s stock valued at $82,533,000 after purchasing an additional 506,539 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Exelixis in the fourth quarter valued at $12,055,000. Institutional investors and hedge funds 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.