Exelixis, Inc. (NASDAQ:EXEL) Receives $37.24 Consensus Price Target from Brokerages

Exelixis, Inc. (NASDAQ:EXEL) has been given an average recommendation of “Moderate Buy” by the twenty research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $37.24.

Several research analysts have recently issued reports on EXEL shares. Guggenheim reiterated a “buy” rating and issued a $42.00 price objective on shares of Exelixis in a report on Wednesday, February 12th. Stifel Nicolaus increased their price target on Exelixis from $30.00 to $36.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. Citigroup boosted their price objective on Exelixis from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Wells Fargo & Company cut Exelixis from an “overweight” rating to an “equal weight” rating and set a $36.00 target price for the company. in a research note on Monday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $40.00 target price on shares of Exelixis in a report on Thursday, February 13th.

Exelixis Stock Performance

Shares of EXEL opened at $37.53 on Monday. The firm has a fifty day moving average of $34.34 and a 200-day moving average of $31.50. The company has a market cap of $10.50 billion, a price-to-earnings ratio of 21.20, a price-to-earnings-growth ratio of 1.13 and a beta of 0.53. Exelixis has a 1 year low of $20.14 and a 1 year high of $37.64.

Exelixis (NASDAQ:EXEL) last announced its quarterly 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 23.52% and a net margin of 24.04%. Analysts predict that Exelixis will post 2.04 EPS for the current year.

Insider Transactions at Exelixis

In related news, EVP Jeffrey Hessekiel sold 60,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 486,059 shares in the company, valued at approximately $17,823,783.53. This trade represents a 10.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mary C. Beckerle sold 12,210 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $34.88, for a total transaction of $425,884.80. Following the transaction, the director now directly owns 30,406 shares in the company, valued at $1,060,561.28. The trade was a 28.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 172,807 shares of company stock valued at $6,326,573 over the last quarter. Company insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

A number of hedge funds have recently added to or reduced their stakes in EXEL. Forum Financial Management LP bought a new position in Exelixis in the 4th quarter worth approximately $241,000. GF Fund Management CO. LTD. acquired a new position in shares of Exelixis in the 4th quarter valued at $200,000. Neo Ivy Capital Management lifted its stake in Exelixis by 427.8% during the fourth quarter. Neo Ivy Capital Management now owns 53,892 shares of the biotechnology company’s stock worth $1,794,000 after purchasing an additional 43,682 shares during the period. JT Stratford LLC acquired a new stake in Exelixis in the 4th quarter valued at $288,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Exelixis by 4.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 844,345 shares of the biotechnology company’s stock valued at $28,117,000 after purchasing an additional 33,804 shares in the last quarter. Institutional investors and hedge funds 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.