Analysts Set Exelixis, Inc. (NASDAQ:EXEL) Price Target at $29.57

Shares of Exelixis, Inc. (NASDAQ:EXEL) have earned a consensus rating of “Moderate Buy” from the sixteen brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $29.57.

Several analysts recently commented on EXEL shares. Oppenheimer restated an “outperform” rating and issued a $29.00 target price on shares of Exelixis in a research report on Tuesday, July 30th. Morgan Stanley lifted their price target on Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. Bank of America raised their price objective on Exelixis from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. The Goldman Sachs Group raised Exelixis to a “strong sell” rating in a research note on Tuesday, October 15th. Finally, Stifel Nicolaus raised their price objective on Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th.

Exelixis Price Performance

EXEL opened at $27.87 on Tuesday. Exelixis has a 12 month low of $19.20 and a 12 month high of $29.75. The stock has a market cap of $7.95 billion, a P/E ratio of 24.03, a P/E/G ratio of 0.61 and a beta of 0.54. The stock’s 50 day moving average price is $26.61 and its 200 day moving average price is $24.00.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.31 by $0.44. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. The firm had revenue of $637.18 million for the quarter, compared to analysts’ expectations of $468.21 million. Equities analysts anticipate that Exelixis will post 1.58 EPS for the current year.

Insider Activity at Exelixis

In related news, CFO Christopher J. Senner sold 125,000 shares of Exelixis stock in a transaction on 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 owns 721,680 shares of the company’s stock, valued at approximately $19,622,479.20. 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 is accessible through the SEC website. In other Exelixis news, CFO Christopher J. Senner sold 125,000 shares of the firm’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 transaction, the chief financial officer now directly owns 721,680 shares in the company, valued at $19,622,479.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey Hessekiel sold 25,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were 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 in the company, valued at approximately $15,968,473.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 327,858 shares of company stock valued at $8,640,129. Insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its position in Exelixis by 0.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,048,809 shares of the biotechnology company’s stock worth $25,161,000 after buying an additional 5,833 shares in the last quarter. Wellington Management Group LLP grew its position in Exelixis by 25.1% during the fourth quarter. Wellington Management Group LLP now owns 129,935 shares of the biotechnology company’s stock worth $3,117,000 after buying an additional 26,049 shares in the last quarter. Fisher Asset Management LLC grew its position in Exelixis by 232.6% during the fourth quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock worth $25,000 after buying an additional 728 shares in the last quarter. Banque Cantonale Vaudoise boosted its holdings in Exelixis by 11.5% during the first quarter. Banque Cantonale Vaudoise now owns 7,555 shares of the biotechnology company’s stock valued at $179,000 after purchasing an additional 781 shares in the last quarter. Finally, Janiczek Wealth Management LLC boosted its holdings in Exelixis by 319.6% during the first quarter. Janiczek Wealth Management LLC now owns 5,681 shares of the biotechnology company’s stock valued at $135,000 after purchasing an additional 4,327 shares in the last quarter. 85.27% of the stock is currently owned by 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.