TD Cowen Raises Exelixis (NASDAQ:EXEL) Price Target to $27.00

Exelixis (NASDAQ:EXEL) had its price objective increased by TD Cowen from $25.00 to $27.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock.

A number of other brokerages also recently weighed in on EXEL. TheStreet raised shares of Exelixis from a c+ rating to a b- rating in a report on Monday, March 18th. Stifel Nicolaus upped their price target on shares of Exelixis from $23.00 to $25.00 and gave the stock a hold rating in a report on Friday, February 2nd. William Blair reaffirmed an outperform rating on shares of Exelixis in a report on Wednesday. JMP Securities reaffirmed a market outperform rating and set a $27.00 price target on shares of Exelixis in a report on Wednesday, April 10th. Finally, Barclays downgraded shares of Exelixis from an overweight rating to an equal weight rating and set a $25.00 price target for the company. in a report on Thursday, April 11th. Six 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. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $26.33.

Exelixis Stock Down 1.0 %

NASDAQ EXEL opened at $21.90 on Wednesday. The company has a market capitalization of $6.38 billion, a P/E ratio of 34.22, a P/E/G ratio of 0.57 and a beta of 0.57. Exelixis has a 12-month low of $18.52 and a 12-month high of $24.34. The firm has a 50-day moving average price of $22.97 and a two-hundred day moving average price of $22.22.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, April 30th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.16). The business had revenue of $425.23 million during the quarter, compared to the consensus estimate of $461.04 million. Exelixis had a net margin of 11.10% and a return on equity of 8.85%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.12 EPS. Equities analysts expect that Exelixis will post 1.23 EPS for the current year.

Insider Transactions at Exelixis

In related news, Director David Edward Johnson purchased 190,000 shares of Exelixis stock in a transaction on Wednesday, February 21st. The stock was acquired at an average cost of $20.70 per share, for a total transaction of $3,933,000.00. Following the completion of the acquisition, the director now owns 1,100,730 shares of the company’s stock, valued at approximately $22,785,111. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director David Edward Johnson purchased 190,000 shares of Exelixis stock in a transaction on Wednesday, February 21st. The stock was acquired at an average cost of $20.70 per share, for a total transaction of $3,933,000.00. Following the completion of the acquisition, the director now owns 1,100,730 shares of the company’s stock, valued at approximately $22,785,111. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Alan M. Garber sold 19,205 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $24.01, for a total transaction of $461,112.05. Following the completion of the sale, the director now owns 35,703 shares of the company’s stock, valued at $857,229.03. The disclosure for this sale can be found here. 2.85% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in EXEL. Norges Bank bought a new position in shares of Exelixis in the fourth quarter valued at $73,449,000. Los Angeles Capital Management LLC lifted its stake in shares of Exelixis by 948.3% in the first quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock valued at $58,240,000 after buying an additional 2,220,150 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Exelixis by 1,043.9% in the third quarter. Acadian Asset Management LLC now owns 1,957,848 shares of the biotechnology company’s stock valued at $42,750,000 after buying an additional 1,786,687 shares in the last quarter. abrdn plc bought a new position in shares of Exelixis in the fourth quarter valued at $15,997,000. Finally, California Public Employees Retirement System lifted its stake in shares of Exelixis by 42.3% in the third quarter. California Public Employees Retirement System now owns 1,771,128 shares of the biotechnology company’s stock valued at $38,699,000 after buying an additional 526,814 shares in the last quarter. 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.