Analysts Set Exelixis, Inc. (NASDAQ:EXEL) Price Target at $37.59

Exelixis, Inc. (NASDAQ:EXEL) has been given a consensus rating of “Moderate Buy” by the twenty analysts that are currently covering the firm, MarketBeat reports. One research 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 twelve-month price target among brokerages that have covered the stock in the last year is $37.59.

A number of brokerages recently issued reports on EXEL. JMP Securities restated a “market outperform” rating and set a $41.00 price target on shares of Exelixis in a report on Thursday, January 23rd. Brookline Capital Management assumed coverage on Exelixis in a research note on Monday, December 23rd. They set a “buy” rating on the stock. Piper Sandler raised their price target on Exelixis from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Wells Fargo & Company cut shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $36.00 price target on the stock. in a report on Monday, February 24th. Finally, Stifel Nicolaus upped their price objective on shares of Exelixis from $30.00 to $36.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th.

Insider Activity at Exelixis

In other news, EVP Patrick J. Haley sold 52,636 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $36.98, for a total value of $1,946,479.28. Following the sale, the executive vice president now directly owns 303,310 shares of the company’s stock, valued at approximately $11,216,403.80. This represents a 14.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bob Oliver sold 18,647 shares of Exelixis stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $37.25, for a total value of $694,600.75. Following the completion of the transaction, the director now directly owns 33,514 shares of the company’s stock, valued at approximately $1,248,396.50. This represents a 35.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 140,343 shares of company stock valued at $5,177,234 in the last 90 days. Corporate insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

A number of institutional investors have recently made changes to their positions in EXEL. Coppell Advisory Solutions LLC purchased a new position in Exelixis in the 4th quarter worth approximately $25,000. Colonial Trust Co SC increased its holdings in shares of Exelixis by 616.9% in the 4th quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company’s stock worth $30,000 after purchasing an additional 765 shares in the last quarter. Principal Securities Inc. raised its stake in shares of Exelixis by 62.8% in the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 373 shares during the last quarter. USA Financial Formulas bought a new position in shares of Exelixis during the fourth quarter valued at $32,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Exelixis during the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Exelixis Stock Performance

Shares of Exelixis stock opened at $36.96 on Friday. Exelixis has a 52-week low of $20.14 and a 52-week high of $40.02. The company’s 50 day moving average price is $35.61 and its 200-day moving average price is $32.91. The stock has a market capitalization of $10.34 billion, a price-to-earnings ratio of 20.88, a P/E/G ratio of 1.13 and a beta of 0.57.

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%. As a group, equities research analysts forecast that Exelixis will post 2.04 earnings per share for the current fiscal year.

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.