Exelixis (NASDAQ:EXEL) PT Raised to $30.00

Exelixis (NASDAQ:EXEL) had its price objective increased by Royal Bank of Canada from $27.00 to $30.00 in a research report report published on Friday, Benzinga reports. The brokerage currently has an outperform rating on the biotechnology company’s stock.

EXEL has been the topic of several other reports. HC Wainwright reaffirmed a buy rating and set a $29.00 price objective on shares of Exelixis in a research report on Wednesday, September 18th. Truist Financial reiterated a buy rating and issued a $33.00 price target (up from $32.00) on shares of Exelixis in a research note on Thursday, August 8th. Oppenheimer restated an outperform rating and set a $29.00 price objective on shares of Exelixis in a research report on Tuesday, July 30th. UBS Group assumed coverage on shares of Exelixis in a research report on Thursday, September 19th. They issued a neutral rating and a $30.00 target price for the company. Finally, StockNews.com raised Exelixis from a buy rating to a strong-buy rating in a report on Saturday, July 13th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Exelixis presently has a consensus rating of Moderate Buy and an average target price of $27.87.

Exelixis Trading Down 1.3 %

NASDAQ EXEL opened at $26.31 on Friday. The company has a market cap of $7.98 billion, a P/E ratio of 41.11, a PEG ratio of 0.56 and a beta of 0.54. The company has a fifty day simple moving average of $25.98 and a 200 day simple moving average of $23.61. Exelixis has a 12-month low of $18.64 and a 12-month high of $27.83.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.31 by $0.44. Exelixis had a net margin of 17.38% and a return on equity of 15.54%. The firm had revenue of $637.18 million during the quarter, compared to analyst estimates of $468.21 million. Sell-side analysts predict that Exelixis will post 1.59 EPS for the current year.

Insider Activity at Exelixis

In other news, EVP Dana Aftab sold 95,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total value of $2,375,000.00. Following the completion of the sale, the executive vice president now directly owns 520,990 shares of the company’s stock, valued at approximately $13,024,750. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Exelixis news, EVP Jeffrey Hessekiel sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $26.38, for a total transaction of $659,500.00. Following the transaction, the executive vice president now owns 605,325 shares in the company, valued at approximately $15,968,473.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Dana Aftab sold 95,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total value of $2,375,000.00. Following the transaction, the executive vice president now directly owns 520,990 shares in the company, valued at $13,024,750. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 327,858 shares of company stock valued at $8,640,129 over the last three months. 2.85% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in EXEL. LSV Asset Management boosted its holdings in shares of Exelixis by 107.7% during the second quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock worth $129,511,000 after purchasing an additional 2,989,021 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Exelixis by 948.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock worth $58,240,000 after acquiring an additional 2,220,150 shares during the period. Jupiter Asset Management Ltd. boosted its position in shares of Exelixis by 148.2% in the first quarter. Jupiter Asset Management Ltd. now owns 2,267,894 shares of the biotechnology company’s stock worth $53,817,000 after acquiring an additional 1,354,062 shares during the last quarter. Swedbank AB acquired a new stake in shares of Exelixis in the first quarter worth approximately $22,455,000. Finally, First Trust Advisors LP increased its position in Exelixis by 18.5% during the fourth quarter. First Trust Advisors LP now owns 3,152,755 shares of the biotechnology company’s stock worth $75,635,000 after purchasing an additional 492,613 shares during 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.