Truist Financial Issues Positive Forecast for Exelixis (NASDAQ:EXEL) Stock Price

Exelixis (NASDAQ:EXEL) had its target price increased by stock analysts at Truist Financial from $33.00 to $38.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Truist Financial’s target price would indicate a potential upside of 14.46% from the company’s current price.

A number of other analysts have also recently commented on EXEL. TD Cowen boosted their price objective on Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, October 21st. StockNews.com raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 13th. Bank of America upped their price objective on shares of Exelixis from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. JMP Securities reiterated a “market outperform” rating and issued a $29.00 target price on shares of Exelixis in a research report on Friday, October 11th. Finally, UBS Group initiated coverage on shares of Exelixis in a research report on Thursday, September 19th. They set a “neutral” rating and a $30.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $31.44.

Exelixis Stock Performance

EXEL opened at $33.20 on Wednesday. The company has a fifty day moving average of $26.96 and a two-hundred day moving average of $24.21. The stock has a market capitalization of $9.47 billion, a price-to-earnings ratio of 28.62, a PEG ratio of 0.61 and a beta of 0.54. Exelixis has a fifty-two week low of $19.20 and a fifty-two week high of $33.60.

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

Insiders Place Their Bets

In other news, 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 transaction of $2,375,000.00. Following the transaction, the executive vice president now owns 520,990 shares in the company, valued at $13,024,750. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Dana Aftab sold 95,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were 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 owns 520,990 shares of the company’s stock, valued at $13,024,750. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Jeffrey Hessekiel sold 20,000 shares of Exelixis stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $25.79, for a total transaction of $515,800.00. Following the sale, the executive vice president now directly owns 630,325 shares in the company, valued at approximately $16,256,081.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 352,858 shares of company stock valued at $9,349,879. Insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Several large investors have recently modified their holdings of the business. Heritage Investors Management Corp acquired a new stake in shares of Exelixis during the 3rd quarter worth about $201,000. Capital Management Corp VA boosted its stake in Exelixis by 7.5% during the third quarter. Capital Management Corp VA now owns 365,270 shares of the biotechnology company’s stock worth $9,479,000 after buying an additional 25,350 shares during the period. QRG Capital Management Inc. increased its position in shares of 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 acquiring an additional 3,321 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Exelixis by 263.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 483,064 shares of the biotechnology company’s stock valued at $12,536,000 after acquiring an additional 350,026 shares during the period. Finally, Fort L.P. purchased a new stake in shares of Exelixis in the 3rd quarter valued at approximately $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.