Exelixis (NASDAQ:EXEL) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Exelixis (NASDAQ:EXEL) had its price target hoisted by Stifel Nicolaus from $36.00 to $38.00 in a research report report published on Wednesday,Benzinga reports. They currently have a hold rating on the biotechnology company’s stock.

A number of other equities analysts have also recently weighed in on the company. Wells Fargo & Company reiterated a “market outperform” rating on shares of Exelixis in a report on Thursday, April 17th. HC Wainwright reaffirmed a “buy” rating and set a $40.00 target price on shares of Exelixis in a research note on Thursday, March 27th. Royal Bank of Canada lifted their price target on shares of Exelixis from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, March 13th. UBS Group restated an “underperform” rating on shares of Exelixis in a report on Thursday, April 17th. Finally, StockNews.com raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Exelixis currently has an average rating of “Moderate Buy” and an average target price of $38.76.

Exelixis Price Performance

Shares of NASDAQ EXEL opened at $45.40 on Wednesday. The company has a market capitalization of $12.51 billion, a P/E ratio of 25.65, a P/E/G ratio of 1.13 and a beta of 0.25. The company has a 50 day simple moving average of $37.23 and a 200-day simple moving average of $35.80. Exelixis has a 1 year low of $20.14 and a 1 year high of $48.85.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing the consensus estimate 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, research analysts expect that Exelixis will post 2.04 EPS for the current year.

Insider Transactions at Exelixis

In other Exelixis news, CFO Christopher J. Senner sold 100,000 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $46.00, for a total value of $4,600,000.00. Following the sale, the chief financial officer now owns 967,842 shares of the company’s stock, valued at $44,520,732. This trade represents a 9.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Patrick J. Haley sold 126,383 shares of Exelixis stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $47.96, for a total value of $6,061,328.68. Following the completion of the transaction, the executive vice president now owns 446,459 shares of the company’s stock, valued at $21,412,173.64. The trade was a 22.06% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 520,942 shares of company stock valued at $22,930,002. 2.82% of the stock is currently owned by company insiders.

Institutional Trading of Exelixis

A number of large investors have recently made changes to their positions in the company. Frank Rimerman Advisors LLC lifted its stake in Exelixis by 4.7% in the first quarter. Frank Rimerman Advisors LLC now owns 6,342 shares of the biotechnology company’s stock worth $234,000 after acquiring an additional 285 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Exelixis by 18.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,890 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 290 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Exelixis by 6.1% during the first quarter. Farther Finance Advisors LLC now owns 5,372 shares of the biotechnology company’s stock worth $195,000 after purchasing an additional 307 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Exelixis by 1.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 17,203 shares of the biotechnology company’s stock worth $573,000 after purchasing an additional 317 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in Exelixis by 4.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,050 shares of the biotechnology company’s stock valued at $235,000 after buying an additional 330 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

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.