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

Exelixis (NASDAQ:EXEL) had its price objective hoisted by investment analysts at Barclays from $25.00 to $29.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the biotechnology company’s stock. Barclays‘s target price would indicate a potential downside of 17.14% from the stock’s current price.

Other analysts have also issued research reports about the stock. JMP Securities reissued a “market outperform” rating and issued a $41.00 price target on shares of Exelixis in a report on Thursday, January 23rd. Wells Fargo & Company raised their price target on shares of Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Brookline Capital Management assumed coverage on shares of Exelixis in a report on Monday, December 23rd. They issued a “buy” rating for the company. Stifel Nicolaus raised their price target on shares of Exelixis from $30.00 to $36.00 and gave the company a “hold” rating in a report on Wednesday. Finally, StockNews.com cut shares of Exelixis from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Exelixis currently has an average rating of “Moderate Buy” and an average target price of $37.24.

Exelixis Trading Up 1.5 %

NASDAQ EXEL opened at $35.00 on Thursday. The firm has a market cap of $10.00 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 0.63 and a beta of 0.53. The company has a 50 day moving average of $34.19 and a 200-day moving average of $30.83. Exelixis has a 1-year low of $20.14 and a 1-year high of $37.59.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results 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 22.43% and a return on equity of 20.99%. On average, analysts forecast that Exelixis will post 1.74 earnings per share for the current year.

Insider Transactions at Exelixis

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

Institutional Investors Weigh In On Exelixis

Several institutional investors have recently added to or reduced their stakes in the stock. Caisse DE Depot ET Placement DU Quebec lifted its position in 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 acquiring an additional 1,907,167 shares in the last quarter. Comerica Bank increased its stake in Exelixis by 0.6% in the 4th quarter. Comerica Bank now owns 87,681 shares of the biotechnology company’s stock valued at $2,920,000 after buying an additional 544 shares during the last quarter. AQR Capital Management LLC increased its stake in Exelixis by 25.7% in the 4th quarter. AQR Capital Management LLC now owns 3,967,005 shares of the biotechnology company’s stock valued at $132,101,000 after buying an additional 810,857 shares during the last quarter. Northern Trust Corp increased its stake in Exelixis by 25.7% in the 4th quarter. Northern Trust Corp now owns 2,478,460 shares of the biotechnology company’s stock valued at $82,533,000 after buying an additional 506,539 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Exelixis in the 4th quarter valued at $12,055,000. 85.27% of the stock is 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.