Exelixis (NASDAQ:EXEL) Price Target Raised to $29.00 at Stephens

Exelixis (NASDAQ:EXEL) had its price objective hoisted by Stephens from $23.00 to $29.00 in a research note released on Wednesday morning, Benzinga reports. Stephens currently has an equal weight rating on the biotechnology company’s stock.

EXEL has been the subject of a number of other reports. HC Wainwright reiterated a “buy” rating and set a $29.00 price target on shares of Exelixis in a research report on Wednesday, September 18th. Stifel Nicolaus lifted their price objective on Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. TD Cowen boosted their target price on Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Royal Bank of Canada restated an “outperform” rating and issued a $34.00 price target on shares of Exelixis in a research report on Wednesday. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $29.00 price target on shares of Exelixis in a research note on Friday, October 11th. One analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.44.

Exelixis Price Performance

Shares of EXEL stock opened at $34.12 on Wednesday. Exelixis has a 1-year low of $19.20 and a 1-year high of $34.45. The business’s fifty day moving average price is $27.13 and its 200 day moving average price is $24.29. The firm has a market capitalization of $9.74 billion, a PE ratio of 21.87, a P/E/G ratio of 0.89 and a beta of 0.51.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The business had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $490.31 million. During the same period in the prior year, the company posted $0.10 EPS. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. Equities research analysts expect that Exelixis will post 1.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Exelixis news, EVP Dana Aftab sold 1,162 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total transaction of $36,486.80. Following the transaction, the executive vice president now owns 498,945 shares of the company’s stock, valued at $15,666,873. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Jeffrey Hessekiel sold 20,000 shares of the company’s 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 completion of the transaction, the executive vice president now owns 630,325 shares of the company’s stock, valued at approximately $16,256,081.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Dana Aftab sold 1,162 shares of Exelixis stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total transaction of $36,486.80. Following the completion of the transaction, the executive vice president now owns 498,945 shares in the company, valued at approximately $15,666,873. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 354,020 shares of company stock valued at $9,386,366. Company insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

A number of institutional investors and hedge funds have recently made changes to their positions in EXEL. V Square Quantitative Management LLC acquired a new position in Exelixis in the third quarter valued at $30,000. Park Place Capital Corp acquired a new stake in Exelixis during the second quarter worth about $45,000. GAMMA Investing LLC raised its holdings in shares of Exelixis by 107.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 1,041 shares during the period. EntryPoint Capital LLC lifted its stake in shares of Exelixis by 537.2% in the 1st quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock valued at $49,000 after purchasing an additional 1,746 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Exelixis during the 3rd quarter worth about $61,000. 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.