Exelixis (NASDAQ:EXEL) Given New $30.00 Price Target at Royal Bank of Canada

Exelixis (NASDAQ:EXEL) had its price target hoisted by Royal Bank of Canada from $27.00 to $30.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the biotechnology company’s stock.

Several other research firms have also weighed in on EXEL. Oppenheimer restated an outperform rating and set a $29.00 price objective on shares of Exelixis in a research report on Tuesday, July 30th. Truist Financial restated a buy rating and set a $33.00 target price (up from $32.00) on shares of Exelixis in a report on Thursday, August 8th. UBS Group initiated coverage on Exelixis in a report on Thursday, September 19th. They issued a neutral rating and a $30.00 price target on the stock. StockNews.com raised Exelixis from a buy rating to a strong-buy rating in a research note on Saturday, July 13th. Finally, HC Wainwright reaffirmed a buy rating and set a $29.00 target price on shares of Exelixis in a report on Wednesday, September 18th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $27.87.

Exelixis Price Performance

Shares of NASDAQ EXEL opened at $26.31 on Friday. The firm has a market capitalization of $7.98 billion, a PE ratio of 41.11, a P/E/G ratio of 0.56 and a beta of 0.54. Exelixis has a 1-year low of $18.64 and a 1-year high of $27.83. The business’s fifty day moving average price is $25.98 and its two-hundred day moving average price is $23.61.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.44. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. The business had revenue of $637.18 million during the quarter, compared to analyst estimates of $468.21 million. Equities research analysts expect that Exelixis will post 1.59 earnings per share for the current fiscal year.

Insider Activity at Exelixis

In other Exelixis news, CFO Christopher J. Senner sold 125,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $27.19, for a total value of $3,398,750.00. Following the sale, the chief financial officer now owns 721,680 shares in the company, valued at approximately $19,622,479.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Dana Aftab sold 95,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $25.00, for a total transaction of $2,375,000.00. Following the transaction, the executive vice president now directly owns 520,990 shares in the company, valued at approximately $13,024,750. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Christopher J. Senner sold 125,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $27.19, for a total transaction of $3,398,750.00. Following the completion of the sale, the chief financial officer now directly owns 721,680 shares in the company, valued at approximately $19,622,479.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 327,858 shares of company stock valued at $8,640,129. 2.85% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Exelixis

Hedge funds have recently bought and sold shares of the stock. Fisher Asset Management LLC grew its stake in Exelixis by 232.6% during the fourth quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock worth $25,000 after buying an additional 728 shares in the last quarter. Rise Advisors LLC bought a new position in Exelixis in the first quarter valued at approximately $28,000. Park Place Capital Corp acquired a new position in Exelixis during the second quarter valued at approximately $45,000. GAMMA Investing LLC raised its position in Exelixis by 107.9% during the second quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 1,041 shares in the last quarter. Finally, EntryPoint Capital LLC lifted its stake in Exelixis by 537.2% during the first quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock worth $49,000 after purchasing an additional 1,746 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

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.