Exelixis (NASDAQ:EXEL) PT Raised to $32.00

Exelixis (NASDAQ:EXEL) had its price target boosted by research analysts at Bank of America from $30.00 to $32.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Bank of America‘s price target would indicate a potential upside of 9.03% from the stock’s previous close.

A number of other brokerages also recently weighed in on EXEL. JMP Securities reiterated a “market outperform” rating and issued a $29.00 price target on shares of Exelixis in a research report on Friday, October 11th. StockNews.com upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 13th. UBS Group began coverage on shares of Exelixis in a research report on Thursday, September 19th. They issued a “neutral” rating and a $30.00 price target on the stock. 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. Finally, HC Wainwright restated 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.07.

Exelixis Price Performance

Shares of NASDAQ:EXEL opened at $29.35 on Tuesday. The company has a market capitalization of $8.90 billion, a price-to-earnings ratio of 45.86, a P/E/G ratio of 0.54 and a beta of 0.54. The firm’s 50 day simple moving average is $26.35 and its 200 day simple moving average is $23.76. Exelixis has a fifty-two week low of $18.64 and a fifty-two week high of $29.60.

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

Insider Transactions at Exelixis

In other news, EVP Dana Aftab sold 95,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 520,990 shares of the company’s stock, valued at $13,024,750. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Exelixis news, Director Maria C. Freire sold 8,250 shares of the firm’s stock in a transaction 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 completion of the sale, 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 sale 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 $13,024,750. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 327,858 shares of company stock valued at $8,640,129 in the last ninety days. 2.85% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EXEL. Fisher Asset Management LLC grew its position in Exelixis by 232.6% in the fourth quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 728 shares during the last quarter. Rise Advisors LLC bought a new position in Exelixis in the first quarter valued at about $28,000. Park Place Capital Corp bought a new position in Exelixis in the second quarter valued at about $45,000. GAMMA Investing LLC grew its position in Exelixis by 107.9% in the second quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 1,041 shares during the last quarter. Finally, EntryPoint Capital LLC grew its holdings 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 last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

About Exelixis

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.