Exelixis (NASDAQ:EXEL) Given New $36.00 Price Target at Wells Fargo & Company

Exelixis (NASDAQ:EXEL) had its price target boosted by Wells Fargo & Company from $32.00 to $36.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the biotechnology company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 8.43% from the company’s current price.

A number of other equities analysts have also recently issued reports on EXEL. HC Wainwright reissued a “buy” rating and issued a $29.00 target price on shares of Exelixis in a report on Wednesday, September 18th. UBS Group began coverage on Exelixis in a research note on Thursday, September 19th. They set a “neutral” rating and a $30.00 price objective for the company. BMO Capital Markets lifted their price objective on Exelixis from $29.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday. The Goldman Sachs Group raised shares of Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. Finally, Truist Financial increased their target price on shares of Exelixis from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday. One equities 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, Exelixis has a consensus rating of “Moderate Buy” and a consensus target price of $31.44.

Exelixis Price Performance

Shares of EXEL stock opened at $33.20 on Wednesday. Exelixis has a one year low of $19.20 and a one year high of $33.60. The stock has a fifty day moving average price of $26.96 and a 200 day moving average price of $24.21. The stock has a market cap of $9.47 billion, a P/E ratio of 28.62, a price-to-earnings-growth ratio of 0.61 and a beta of 0.54.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.44. The business had revenue of $637.18 million for the quarter, compared to analyst estimates of $468.21 million. Exelixis had a net margin of 17.38% and a return on equity of 15.54%. Equities research analysts anticipate that Exelixis will post 1.58 EPS for the current year.

Insider Activity

In related news, EVP Dana Aftab sold 95,000 shares of Exelixis stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total value of $2,375,000.00. Following the completion of the sale, the executive vice president now directly owns 520,990 shares in the company, valued at $13,024,750. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Christopher J. Senner sold 125,000 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 721,680 shares of the company’s stock, valued at $19,622,479.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dana Aftab sold 95,000 shares of Exelixis stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total value of $2,375,000.00. Following the sale, the executive vice president now directly owns 520,990 shares of the company’s stock, valued at approximately $13,024,750. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 352,858 shares of company stock valued at $9,349,879 over the last 90 days. 2.85% of the stock is owned by company insiders.

Hedge Funds Weigh In On Exelixis

Several hedge funds have recently added to or reduced their stakes in the stock. Heritage Investors Management Corp bought a new stake in shares of Exelixis in the 3rd quarter valued at about $201,000. Capital Management Corp VA grew its holdings in Exelixis by 7.5% during the third quarter. Capital Management Corp VA now owns 365,270 shares of the biotechnology company’s stock valued at $9,479,000 after purchasing an additional 25,350 shares during the period. QRG Capital Management Inc. grew its holdings in Exelixis by 6.4% during the third quarter. QRG Capital Management Inc. now owns 54,879 shares of the biotechnology company’s stock valued at $1,424,000 after purchasing an additional 3,321 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in Exelixis by 263.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 483,064 shares of the biotechnology company’s stock valued at $12,536,000 after purchasing an additional 350,026 shares in the last quarter. Finally, Fort L.P. acquired a new stake in Exelixis in the third quarter worth $225,000. Institutional investors and hedge funds 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.