Exelixis (NASDAQ:EXEL) Given New $36.00 Price Target at Piper Sandler

Exelixis (NASDAQ:EXEL) had its price objective hoisted by stock analysts at Piper Sandler from $33.00 to $36.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the biotechnology company’s stock. Piper Sandler’s target price indicates a potential upside of 8.43% from the company’s previous close.

EXEL has been the subject of several other research reports. JMP Securities reiterated a “market outperform” rating and set a $29.00 target price on shares of Exelixis in a research report on Friday, October 11th. TD Cowen increased 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. UBS Group began coverage on Exelixis in a research report on Thursday, September 19th. They set a “neutral” rating and a $30.00 target price for the company. Oppenheimer reiterated an “outperform” rating and set a $29.00 target price on shares of Exelixis in a research report on Tuesday, July 30th. Finally, HC Wainwright reiterated a “buy” rating and set a $29.00 target price on shares of Exelixis in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $31.44.

Exelixis Stock Up 2.3 %

Shares of EXEL opened at $33.20 on Wednesday. The business has a 50-day simple moving average of $26.96 and a two-hundred day simple moving average of $24.21. The stock has a market cap 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 52 week low of $19.20 and a 52 week high of $33.60.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.44. The business had revenue of $637.18 million during 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 analysts anticipate that Exelixis will post 1.58 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Christopher J. Senner sold 125,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 721,680 shares of the company’s stock, valued at $19,622,479.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Exelixis news, CFO Christopher J. Senner sold 125,000 shares of Exelixis stock in a transaction on Friday, August 9th. The stock was sold at an average price of $27.19, for a total transaction of $3,398,750.00. Following the completion of the sale, the chief financial officer now directly owns 721,680 shares of the company’s stock, valued at $19,622,479.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Dana Aftab sold 95,000 shares of Exelixis stock in a transaction 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 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 sold 352,858 shares of company stock valued at $9,349,879 in the last ninety days. Insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

Institutional investors and hedge funds have recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in Exelixis during the 3rd quarter valued at $30,000. Park Place Capital Corp purchased a new position in shares of Exelixis in the 2nd quarter valued at $45,000. GAMMA Investing LLC increased 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 valued at $45,000 after acquiring an additional 1,041 shares during the period. EntryPoint Capital LLC increased its holdings 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 acquiring an additional 1,746 shares during the period. Finally, Essex Investment Management Co. LLC purchased a new position in shares of Exelixis in the 3rd quarter valued at $74,000. 85.27% of the stock is owned by institutional investors.

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.