Guggenheim Forecasts Strong Price Appreciation for Exelixis (NASDAQ:EXEL) Stock

Exelixis (NASDAQ:EXEL) had its price objective hoisted by Guggenheim from $32.00 to $33.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Several other equities analysts have also issued reports on the company. HC Wainwright restated a “buy” rating and set a $29.00 target price on shares of Exelixis in a research report on Wednesday, September 18th. Royal Bank of Canada restated an “outperform” rating and set a $34.00 target price on shares of Exelixis in a research report on Wednesday. Piper Sandler boosted their target price on Exelixis from $33.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday. TD Cowen boosted their target price on Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Bank of America boosted their target price on Exelixis from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.44.

Exelixis Stock Up 2.8 %

Exelixis stock opened at $34.12 on Wednesday. The stock has a 50-day simple moving average of $27.13 and a 200 day simple moving average of $24.29. Exelixis has a 12-month low of $19.20 and a 12-month high of $34.45. The stock has a market capitalization of $9.74 billion, a price-to-earnings ratio of 21.87, a P/E/G ratio of 0.69 and a beta of 0.54.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. The firm had revenue of $539.50 million during the quarter, compared to analysts’ expectations of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.10 EPS. As a group, sell-side analysts anticipate that Exelixis will post 1.59 EPS for the current year.

Insiders Place Their Bets

In other Exelixis news, EVP Dana Aftab sold 1,162 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total transaction of $36,486.80. Following the completion of the transaction, the executive vice president now owns 498,945 shares of the company’s stock, valued at $15,666,873. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Jeffrey Hessekiel sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $25.79, for a total transaction of $515,800.00. Following the sale, the executive vice president now owns 630,325 shares in the company, valued at $16,256,081.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Dana Aftab sold 1,162 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total value of $36,486.80. Following the sale, the executive vice president now owns 498,945 shares in the company, valued at approximately $15,666,873. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 354,020 shares of company stock valued at $9,386,366 in the last quarter. 2.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Exelixis

A number of institutional investors and hedge funds have recently made changes to their positions in EXEL. V Square Quantitative Management LLC bought a new stake in shares of Exelixis during the 3rd quarter worth approximately $30,000. Park Place Capital Corp bought a new stake in shares of Exelixis during the 2nd quarter worth approximately $45,000. GAMMA Investing LLC raised its stake in Exelixis by 107.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 1,041 shares during the period. EntryPoint Capital LLC raised its stake in Exelixis by 537.2% in the 1st quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock valued at $49,000 after acquiring an additional 1,746 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in Exelixis in the 3rd quarter valued at $61,000. 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.