Exelixis (NASDAQ:EXEL) Stock Price Expected to Rise, HC Wainwright Analyst Says

Exelixis (NASDAQ:EXEL) had its target price upped by equities researchers at HC Wainwright from $29.00 to $40.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price target would indicate a potential upside of 11.05% from the company’s current price.

EXEL has been the subject of several other research reports. UBS Group started coverage on shares of Exelixis in a report on Thursday, September 19th. They issued a “neutral” rating and a $30.00 target price for the company. Truist Financial increased their target price on Exelixis from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group raised Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. Brookline Capital Management initiated coverage on shares of Exelixis in a report on Monday, December 23rd. They set a “buy” rating for the company. Finally, Wells Fargo & Company boosted their target price on shares of Exelixis from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.69.

Exelixis Trading Up 4.4 %

Shares of NASDAQ EXEL opened at $36.02 on Friday. Exelixis has a 12-month low of $20.01 and a 12-month high of $36.97. The firm has a market capitalization of $10.29 billion, a price-to-earnings ratio of 23.09, a price-to-earnings-growth ratio of 0.88 and a beta of 0.53. The firm has a 50 day moving average of $34.88 and a 200 day moving average of $28.85.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The firm had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. During the same quarter in the previous year, the firm posted $0.10 EPS. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. Sell-side analysts predict that Exelixis will post 1.69 EPS for the current year.

Insider Activity at Exelixis

In related news, Director George Poste sold 30,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $34.00, for a total value of $1,020,000.00. Following the transaction, the director now owns 169,020 shares of the company’s stock, valued at $5,746,680. This trade represents a 15.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Patrick J. Haley sold 41,588 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.36, for a total transaction of $1,428,963.68. Following the completion of the sale, the executive vice president now directly owns 288,665 shares of the company’s stock, valued at approximately $9,918,529.40. This trade represents a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 314,736 shares of company stock worth $10,849,110. Company insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

Institutional investors and hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC purchased a new position in Exelixis during the 3rd quarter worth $30,000. Brooklyn Investment Group bought a new stake in shares of Exelixis in the third quarter valued at about $42,000. Capital Performance Advisors LLP purchased a new stake in Exelixis in the third quarter worth about $61,000. Essex Investment Management Co. LLC bought a new position in Exelixis during the 3rd quarter worth about $74,000. Finally, GAMMA Investing LLC increased its position in Exelixis by 50.0% during the 3rd quarter. GAMMA Investing LLC now owns 3,010 shares of the biotechnology company’s stock valued at $78,000 after purchasing an additional 1,004 shares during the period. Institutional investors own 85.27% of the company’s stock.

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.