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

Shares of Exelixis, Inc. (NASDAQ:EXEL) have been assigned a consensus recommendation of “Moderate Buy” from the twenty research firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $37.59.

Several analysts recently issued reports on EXEL shares. Royal Bank of Canada upped their price objective on shares of Exelixis from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, March 13th. Wells Fargo & Company reiterated a “market outperform” rating on shares of Exelixis in a research report on Thursday. StockNews.com upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 19th. Barclays lifted their price target on Exelixis from $25.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, February 13th. Finally, JMP Securities reissued a “market outperform” rating and issued a $41.00 price objective on shares of Exelixis in a report on Thursday.

Insiders Place Their Bets

In related news, EVP Patrick J. Haley sold 10,000 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $38.80, for a total value of $388,000.00. Following the sale, the executive vice president now owns 341,028 shares in the company, valued at approximately $13,231,886.40. The trade was a 2.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jack L. Wyszomierski sold 8,768 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $37.80, for a total value of $331,430.40. Following the transaction, the director now owns 356,605 shares of the company’s stock, valued at $13,479,669. This trade represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 140,343 shares of company stock worth $5,177,234 over the last ninety days. Corporate insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

Several large investors have recently added to or reduced their stakes in the business. Coppell Advisory Solutions LLC acquired a new position in shares of Exelixis in the fourth quarter worth $25,000. Colonial Trust Co SC increased its holdings in Exelixis by 616.9% during 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 during the period. USA Financial Formulas acquired a new stake in Exelixis in the 4th quarter valued at about $32,000. Principal Securities Inc. boosted its stake in shares of Exelixis by 62.8% in the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 373 shares during the period. Finally, Kestra Investment Management LLC acquired a new position in shares of Exelixis during the fourth quarter worth about $39,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Price Performance

Shares of NASDAQ:EXEL opened at $36.19 on Tuesday. The business’s 50 day moving average price is $36.44 and its 200-day moving average price is $34.30. Exelixis has a 1 year low of $20.14 and a 1 year high of $40.02. The firm has a market capitalization of $10.13 billion, a PE ratio of 20.45, a P/E/G ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL) last released 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 23.52% and a net margin of 24.04%. As a group, analysts expect that Exelixis will post 2.04 earnings per share for the current 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.