Truist Financial Issues Positive Forecast for Exelixis (NASDAQ:EXEL) Stock Price

Exelixis (NASDAQ:EXEL) had its target price upped by Truist Financial from $38.00 to $42.00 in a research report released on Wednesday,Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock.

EXEL has been the topic of a number of other reports. The Goldman Sachs Group upgraded shares of Exelixis to a “strong sell” rating in a research report on Tuesday, October 15th. Bank of America downgraded shares of Exelixis from a “buy” rating to a “neutral” rating and raised their price target for the stock from $35.00 to $39.00 in a research report on Tuesday, December 17th. HC Wainwright raised their price target on shares of Exelixis from $29.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. UBS Group began coverage on shares of Exelixis in a research report on Thursday, September 19th. They issued a “neutral” rating and a $30.00 price target on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $34.00 price objective on shares of Exelixis in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Exelixis has a consensus rating of “Moderate Buy” and a consensus target price of $34.75.

Exelixis Price Performance

NASDAQ EXEL opened at $37.27 on Wednesday. Exelixis has a 12 month low of $20.01 and a 12 month high of $37.31. The company has a market capitalization of $10.64 billion, a price-to-earnings ratio of 23.89, a price-to-earnings-growth ratio of 0.87 and a beta of 0.53. The company’s fifty day moving average price is $34.95 and its two-hundred day moving average price is $29.14.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 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 for the quarter, compared to the consensus estimate of $490.31 million. During the same period in the prior year, the firm posted $0.10 EPS. The firm’s revenue was up 14.3% compared to the same quarter last year. As a group, analysts anticipate that Exelixis will post 1.7 EPS for the current year.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Jeffrey Hessekiel sold 60,000 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the transaction, the executive vice president now owns 486,059 shares of the company’s stock, valued at approximately $17,823,783.53. This trade represents a 10.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dana Aftab sold 1,162 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total transaction of $36,486.80. Following the transaction, the executive vice president now directly owns 498,945 shares in the company, valued at approximately $15,666,873. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 314,736 shares of company stock valued at $10,849,110. Company insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Covestor Ltd raised its holdings in Exelixis by 5.7% during the 3rd quarter. Covestor Ltd now owns 6,335 shares of the biotechnology company’s stock worth $164,000 after buying an additional 341 shares during the period. Creative Planning raised its holdings in shares of Exelixis by 0.8% during the second quarter. Creative Planning now owns 71,700 shares of the biotechnology company’s stock valued at $1,611,000 after acquiring an additional 548 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Exelixis by 3.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 19,853 shares of the biotechnology company’s stock valued at $515,000 after acquiring an additional 609 shares in the last quarter. Signaturefd LLC boosted its stake in Exelixis by 12.2% in the 3rd quarter. Signaturefd LLC now owns 6,138 shares of the biotechnology company’s stock worth $159,000 after purchasing an additional 666 shares during the period. Finally, Vestcor Inc grew its position in Exelixis by 1.2% during the 3rd quarter. Vestcor Inc now owns 59,789 shares of the biotechnology company’s stock worth $1,552,000 after purchasing an additional 722 shares in the last quarter. Institutional investors and hedge funds 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.