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

Exelixis (NASDAQ:EXEL) had its target price hoisted by equities research analysts at Guggenheim from $32.00 to $33.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Guggenheim’s target price indicates a potential upside of 0.49% from the company’s current price.

EXEL has been the subject of several other reports. TD Cowen increased their price objective on Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Morgan Stanley raised their price target on Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. Truist Financial raised their price target on Exelixis from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank of Canada reissued an “outperform” rating and issued a $34.00 price objective on shares of Exelixis in a research note on Wednesday. Finally, 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Exelixis has an average rating of “Moderate Buy” and an average price target of $31.44.

Exelixis Stock Performance

Shares of NASDAQ:EXEL traded up $4.11 during midday trading on Wednesday, reaching $32.84. The company had a trading volume of 4,774,635 shares, compared to its average volume of 2,038,059. The company has a fifty day simple moving average of $26.69 and a two-hundred day simple moving average of $24.09. The firm has a market cap of $9.37 billion, a price-to-earnings ratio of 28.31, a price-to-earnings-growth ratio of 0.61 and a beta of 0.54. Exelixis has a 1-year low of $19.20 and a 1-year high of $33.32.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.44. The firm had revenue of $637.18 million during the quarter, compared to the consensus estimate of $468.21 million. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. Analysts expect that Exelixis will post 1.58 EPS for the current year.

Insider Transactions at Exelixis

In other news, Director Maria C. Freire sold 8,250 shares of Exelixis stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $26.56, for a total transaction of $219,120.00. Following the sale, the director now owns 91,007 shares of the company’s stock, valued at approximately $2,417,145.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Jeffrey Hessekiel sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $25.79, for a total transaction of $515,800.00. Following the completion of the transaction, the executive vice president now owns 630,325 shares in the company, valued at $16,256,081.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Maria C. Freire sold 8,250 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $26.56, for a total value of $219,120.00. Following the transaction, the director now owns 91,007 shares of the company’s stock, valued at $2,417,145.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 327,858 shares of company stock valued at $8,640,129. 2.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Exelixis

Several hedge funds and other institutional investors have recently modified their holdings of EXEL. V Square Quantitative Management LLC bought a new position in shares of Exelixis during the 3rd quarter worth approximately $30,000. Park Place Capital Corp bought a new stake in shares of Exelixis during the second quarter worth $45,000. GAMMA Investing LLC raised its position in shares of Exelixis by 107.9% during the second quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 1,041 shares during the last quarter. EntryPoint Capital LLC grew its stake in shares of 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 period. Finally, Essex Investment Management Co. LLC acquired a new stake in shares of Exelixis during the third quarter worth $74,000. Institutional investors 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.