Exelixis (NASDAQ:EXEL) PT Raised to $34.00

Exelixis (NASDAQ:EXEL) had its target price raised by investment analysts at TD Cowen from $27.00 to $34.00 in a report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. TD Cowen’s price objective points to a potential upside of 17.93% from the company’s current price.

EXEL has been the topic of a number of other reports. Morgan Stanley boosted their target price on Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, October 11th. HC Wainwright reissued a “buy” rating and issued a $29.00 price target on shares of Exelixis in a report on Wednesday, September 18th. JMP Securities reissued a “market outperform” rating and issued a $29.00 price target on shares of Exelixis in a report on Friday, October 11th. Oppenheimer reissued an “outperform” rating and issued a $29.00 price target on shares of Exelixis in a report on Tuesday, July 30th. Finally, UBS Group initiated coverage on Exelixis in a report on Thursday, September 19th. They issued a “neutral” rating and a $30.00 price target for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $29.57.

Exelixis Price Performance

Exelixis stock opened at $28.83 on Monday. Exelixis has a 1-year low of $18.64 and a 1-year high of $29.75. The company has a market cap of $8.74 billion, a PE ratio of 45.05, a price-to-earnings-growth ratio of 0.54 and a beta of 0.54. The stock’s 50 day moving average price is $26.46 and its 200 day moving average price is $23.87.

Exelixis (NASDAQ:EXEL) last posted its 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 company had revenue of $637.18 million for 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%. On average, equities research analysts anticipate that Exelixis will post 1.59 EPS for the current fiscal year.

Insider Activity at Exelixis

In related news, CFO Christopher J. Senner sold 125,000 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 721,680 shares in the company, valued at approximately $19,622,479.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Exelixis news, CFO Christopher J. Senner sold 125,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $19,622,479.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Dana Aftab sold 95,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $13,024,750. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 327,858 shares of company stock worth $8,640,129. 2.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Exelixis

Several institutional investors and hedge funds have recently added to or reduced their stakes in EXEL. LSV Asset Management boosted its position in shares of Exelixis by 1,651.4% in the first quarter. LSV Asset Management now owns 2,774,707 shares of the biotechnology company’s stock worth $65,844,000 after buying an additional 2,616,278 shares during the period. Hsbc Holdings PLC boosted its position in shares of Exelixis by 45.3% in the second quarter. Hsbc Holdings PLC now owns 90,211 shares of the biotechnology company’s stock worth $2,031,000 after buying an additional 28,126 shares during the period. Farallon Capital Management LLC boosted its position in shares of 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 during the period. Intech Investment Management LLC boosted its position in shares of Exelixis by 155.8% in the first quarter. Intech Investment Management LLC now owns 100,039 shares of the biotechnology company’s stock worth $2,374,000 after buying an additional 60,925 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in shares of Exelixis in the first quarter worth about $1,281,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

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.