Exelixis (NASDAQ:EXEL) PT Raised to $30.00 at Stifel Nicolaus

Exelixis (NASDAQ:EXEL) had its price target increased by analysts at Stifel Nicolaus from $26.00 to $30.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the biotechnology company’s stock. Stifel Nicolaus’ price target points to a potential upside of 3.23% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the company. Royal Bank of Canada lifted their target price on Exelixis from $30.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday. Oppenheimer reaffirmed an “outperform” rating and set a $29.00 price objective on shares of Exelixis in a report on Tuesday, July 30th. UBS Group started 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. Morgan Stanley upped their price target on shares of Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. Finally, HC Wainwright reissued a “buy” rating and issued a $29.00 price objective on shares of Exelixis in a research note on Wednesday, September 18th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.07.

Exelixis Price Performance

Shares of EXEL opened at $29.06 on Wednesday. The firm has a market cap of $8.81 billion, a P/E ratio of 45.41, a price-to-earnings-growth ratio of 0.54 and a beta of 0.54. Exelixis has a 1 year low of $18.64 and a 1 year high of $29.75. The company has a 50 day simple moving average of $26.39 and a two-hundred day simple moving average of $23.79.

Exelixis (NASDAQ:EXEL) last issued its earnings results 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. The firm had revenue of $637.18 million during the quarter, compared to analyst estimates of $468.21 million. Exelixis had a net margin of 17.38% and a return on equity of 15.54%. On average, sell-side analysts anticipate that Exelixis will post 1.59 earnings per share for the current year.

Insider Activity at Exelixis

In other news, 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 transaction of $2,375,000.00. Following the completion of the sale, the executive vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Jeffrey Hessekiel sold 25,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $26.38, for a total value of $659,500.00. Following the transaction, the executive vice president now owns 605,325 shares of the company’s stock, valued at $15,968,473.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 a total of 327,858 shares of company stock worth $8,640,129 in the last quarter. 2.85% of the stock is owned by company insiders.

Hedge Funds Weigh In On Exelixis

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. LSV Asset Management lifted its stake in Exelixis by 107.7% in the second quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock worth $129,511,000 after acquiring an additional 2,989,021 shares during the period. Jupiter Asset Management Ltd. lifted its position in shares of Exelixis by 148.2% in the 1st quarter. Jupiter Asset Management Ltd. now owns 2,267,894 shares of the biotechnology company’s stock worth $53,817,000 after purchasing an additional 1,354,062 shares during the period. Swedbank AB bought a new position in shares of Exelixis during the first quarter valued at approximately $22,455,000. Susquehanna Fundamental Investments LLC purchased a new position in Exelixis during the first quarter valued at approximately $10,906,000. Finally, Farallon Capital Management LLC raised its stake in Exelixis by 1.6% in the second quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock worth $608,993,000 after buying an additional 424,000 shares in the last quarter. Institutional investors 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.