Exelixis (NASDAQ:EXEL) Price Target Raised to $36.00 at Stifel Nicolaus

Exelixis (NASDAQ:EXEL) had its target price raised by stock analysts at Stifel Nicolaus from $30.00 to $36.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the biotechnology company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 4.38% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Stephens reiterated an “equal weight” rating and set a $29.00 price objective on shares of Exelixis in a research report on Wednesday. Truist Financial upped their price objective on shares of Exelixis from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, January 27th. BMO Capital Markets lowered shares of Exelixis from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $36.00 to $40.00 in a research note on Friday, December 20th. Royal Bank of Canada reiterated an “outperform” rating and issued a $34.00 target price on shares of Exelixis in a research note on Wednesday, October 30th. Finally, Morgan Stanley upgraded shares of Exelixis from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $30.00 to $40.00 in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.24.

Exelixis Trading Up 5.2 %

Shares of EXEL stock opened at $34.49 on Wednesday. The company has a market capitalization of $9.85 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 0.63 and a beta of 0.53. Exelixis has a twelve month low of $20.14 and a twelve month high of $37.59. The firm has a fifty day simple moving average of $34.21 and a 200-day simple moving average of $30.75.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a return on equity of 20.99% and a net margin of 22.43%. Equities research analysts predict that Exelixis will post 1.74 EPS for the current year.

Insider Activity

In other news, EVP Jeffrey Hessekiel sold 60,000 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the sale, the executive vice president now owns 486,059 shares of the company’s stock, valued at approximately $17,823,783.53. This represents a 10.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Patrick J. Haley sold 10,000 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $35.27, for a total transaction of $352,700.00. Following the sale, the executive vice president now owns 278,665 shares of the company’s stock, valued at approximately $9,828,514.55. This trade represents a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,588 shares of company stock worth $3,981,864. Corporate insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

Hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. raised its holdings in shares of Exelixis by 308.1% during the fourth quarter. Invesco Ltd. now owns 3,975,241 shares of the biotechnology company’s stock valued at $132,376,000 after purchasing an additional 3,001,204 shares during the period. Norges Bank bought a new position in shares of Exelixis in the fourth quarter valued at approximately $94,867,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Exelixis by 104.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,159,395 shares of the biotechnology company’s stock valued at $105,208,000 after buying an additional 1,613,482 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Exelixis by 124.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock worth $46,473,000 after acquiring an additional 991,494 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Exelixis by 82.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company’s stock valued at $52,884,000 after purchasing an additional 704,786 shares during the last quarter. 85.27% of the stock is currently 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.