Royal Bank of Canada Increases Exelixis (NASDAQ:EXEL) Price Target to $30.00

Exelixis (NASDAQ:EXEL) had its price target hoisted by research analysts at Royal Bank of Canada from $27.00 to $30.00 in a report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the biotechnology company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 13.12% from the company’s current price.

EXEL has been the topic of a number of other reports. StockNews.com raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 13th. JMP Securities reaffirmed a “market outperform” rating and set a $29.00 price target on shares of Exelixis in a research report on Friday, September 20th. Truist Financial reiterated a “buy” rating and issued a $33.00 price objective (up from $32.00) on shares of Exelixis in a research report on Thursday, August 8th. UBS Group began coverage on Exelixis in a research report on Thursday, September 19th. They issued a “neutral” rating and a $30.00 target price on the stock. Finally, Oppenheimer reiterated an “outperform” rating and set a $29.00 price target on shares of Exelixis in a report on Tuesday, July 30th. 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.87.

Exelixis Stock Up 1.1 %

Shares of Exelixis stock traded up $0.28 on Friday, hitting $26.52. 147,161 shares of the company were exchanged, compared to its average volume of 2,007,436. The company has a 50-day moving average price of $25.85 and a 200 day moving average price of $23.57. The stock has a market capitalization of $8.04 billion, a price-to-earnings ratio of 41.44, a price-to-earnings-growth ratio of 0.56 and a beta of 0.54. Exelixis has a 1-year low of $18.64 and a 1-year high of $27.83.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.44. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. The company had revenue of $637.18 million for the quarter, compared to analyst estimates of $468.21 million. Research analysts forecast that Exelixis will post 1.59 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Jeffrey Hessekiel sold 25,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $26.38, for a total transaction of $659,500.00. Following the sale, the executive vice president now owns 605,325 shares of the company’s stock, valued at approximately $15,968,473.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Jeffrey Hessekiel sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $26.38, for a total value of $659,500.00. Following the sale, the executive vice president now owns 605,325 shares of the company’s stock, valued at $15,968,473.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Maria C. Freire sold 8,250 shares of the business’s stock in a transaction that occurred 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 transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 327,858 shares of company stock worth $8,640,129 in the last ninety days. 2.85% of the stock is owned by corporate insiders.

Institutional Trading of Exelixis

A number of institutional investors have recently bought and sold shares of the business. Farallon Capital Management LLC increased its holdings in shares of Exelixis by 1.6% in the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock valued at $608,993,000 after acquiring an additional 424,000 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Exelixis by 0.4% during the 2nd quarter. Renaissance Technologies LLC now owns 15,163,066 shares of the biotechnology company’s stock worth $340,714,000 after buying an additional 61,350 shares during the last quarter. LSV Asset Management boosted its holdings in shares of Exelixis by 107.7% in the 2nd quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock valued at $129,511,000 after buying an additional 2,989,021 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Exelixis by 7.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,137,201 shares of the biotechnology company’s stock valued at $115,434,000 after buying an additional 349,837 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Exelixis by 12.7% during the 2nd quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock worth $73,425,000 after acquiring an additional 370,199 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other 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.