Exelixis (NASDAQ:EXEL) Price Target Raised to $34.00 at Royal Bank of Canada

Exelixis (NASDAQ:EXEL) had its price target boosted by investment analysts at Royal Bank of Canada from $30.00 to $34.00 in a note issued to investors on Wednesday, MarketBeat.com reports. The firm currently has an “outperform” rating on the biotechnology company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 17.00% from the stock’s current price.

Several other analysts have also commented on EXEL. Truist Financial reaffirmed a “buy” rating and issued a $33.00 price objective (up previously from $32.00) on shares of Exelixis in a research report on Thursday, August 8th. UBS Group initiated coverage on Exelixis in a research note on Thursday, September 19th. They issued a “neutral” rating and a $30.00 price objective on the stock. JMP Securities reissued a “market outperform” rating and set a $29.00 price objective on shares of Exelixis in a report on Friday, October 11th. Bank of America boosted their target price on Exelixis from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, HC Wainwright reiterated a “buy” rating and set a $29.00 price target on shares of Exelixis in a research note on Wednesday, September 18th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.07.

Exelixis Stock Down 1.0 %

Shares of NASDAQ EXEL opened at $29.06 on Wednesday. The company has a market capitalization of $8.81 billion, a PE ratio of 45.41, a PEG ratio of 0.54 and a beta of 0.54. The stock’s 50 day moving average price is $26.39 and its 200-day moving average price is $23.79. Exelixis has a twelve month low of $18.64 and a twelve month high of $29.75.

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

Insider Buying and Selling at Exelixis

In related news, EVP Dana Aftab sold 95,000 shares of the 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 owns 520,990 shares in the company, valued at approximately $13,024,750. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Jeffrey Hessekiel sold 20,000 shares of the stock in a transaction 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 transaction, the executive vice president now owns 630,325 shares of the company’s stock, valued at approximately $16,256,081.75. 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 accessible through this link. Also, EVP Dana Aftab sold 95,000 shares of the business’s stock in a transaction dated 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 completion of 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 position. The disclosure for this sale can be found here. Insiders sold a total of 327,858 shares of company stock valued at $8,640,129 in the last three months. Company insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Several hedge funds and other institutional investors have recently modified their holdings of EXEL. Fisher Asset Management LLC increased its holdings in Exelixis by 232.6% during the 4th quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 728 shares during the period. Rise Advisors LLC purchased a new position in Exelixis during the 1st quarter valued at $28,000. V Square Quantitative Management LLC bought a new position in Exelixis in the 3rd quarter worth $30,000. Park Place Capital Corp purchased a new stake in shares of Exelixis in the 2nd quarter worth about $45,000. Finally, GAMMA Investing LLC increased its position in shares of Exelixis by 107.9% during the second quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 1,041 shares during the period. 85.27% of the stock is owned by institutional investors.

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.