Exelixis (NASDAQ:EXEL) Stock Price Expected to Rise, UBS Group Analyst Says

Exelixis (NASDAQ:EXELGet Free Report) had its price target raised by research analysts at UBS Group from $30.00 to $34.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the biotechnology company’s stock. UBS Group’s price objective suggests a potential upside of 3.16% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. TD Cowen increased their target price on shares of Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Stifel Nicolaus raised their price objective on Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Brookline Capital Management initiated coverage on Exelixis in a research note on Monday, December 23rd. They set a “buy” rating on the stock. Stephens reiterated an “equal weight” rating and issued a $29.00 price target on shares of Exelixis in a research note on Monday. Finally, BMO Capital Markets lowered Exelixis from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $36.00 to $40.00 in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.06.

Read Our Latest Stock Report on EXEL

Exelixis Stock Up 1.1 %

Exelixis stock opened at $32.96 on Tuesday. Exelixis has a twelve month low of $20.01 and a twelve month high of $37.59. The business has a fifty day moving average of $34.77 and a two-hundred day moving average of $29.99. The firm has a market cap of $9.41 billion, a P/E ratio of 21.13, a P/E/G ratio of 0.72 and a beta of 0.53.

Exelixis (NASDAQ:EXELGet Free Report) last posted its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. The company had revenue of $539.50 million for the quarter, compared to analyst estimates of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 earnings per share. Equities analysts expect that Exelixis will post 1.74 earnings per share for the current year.

Insider Buying and Selling

In other Exelixis news, EVP Patrick J. Haley sold 10,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $35.27, for a total value of $352,700.00. Following the transaction, the executive vice president now owns 278,665 shares in the company, valued at approximately $9,828,514.55. This trade represents a 3.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the sale, the executive vice president now directly owns 486,059 shares of the company’s stock, valued at $17,823,783.53. The trade was a 10.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 288,574 shares of company stock worth $10,102,874 in the last 90 days. Insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Institutional investors and hedge funds have recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB lifted its position in Exelixis by 18.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,890 shares of the biotechnology company’s stock valued at $63,000 after buying an additional 290 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Exelixis by 5.7% in the 3rd quarter. Covestor Ltd now owns 6,335 shares of the biotechnology company’s stock worth $164,000 after acquiring an additional 341 shares during the last quarter. Fifth Third Bancorp increased its holdings in Exelixis by 16.1% in the 4th quarter. Fifth Third Bancorp now owns 3,231 shares of the biotechnology company’s stock valued at $108,000 after purchasing an additional 449 shares during the last quarter. Creative Planning increased its holdings in Exelixis by 0.8% in the 2nd quarter. Creative Planning now owns 71,700 shares of the biotechnology company’s stock valued at $1,611,000 after purchasing an additional 548 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in Exelixis by 68.4% during the fourth quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 553 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Exelixis Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Exelixis (NASDAQ:EXEL)

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