Exelixis (NASDAQ:EXEL) PT Raised to $28.00

Exelixis (NASDAQ:EXEL) had its target price raised by investment analysts at Morgan Stanley from $26.00 to $28.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the biotechnology company’s stock. Morgan Stanley’s target price would indicate a potential upside of 6.75% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. Truist Financial reaffirmed a “buy” rating and set a $33.00 price objective (up from $32.00) on shares of Exelixis in a research report on Thursday, August 8th. Oppenheimer reaffirmed an “outperform” rating and issued a $29.00 price target on shares of Exelixis in a report on Tuesday, July 30th. HC Wainwright restated a “buy” rating and set a $29.00 price objective on shares of Exelixis in a research report on Wednesday, September 18th. JMP Securities reaffirmed a “market outperform” rating and issued a $29.00 target price on shares of Exelixis in a research report on Friday, September 20th. Finally, StockNews.com raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 13th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $28.15.

Exelixis Stock Performance

EXEL stock opened at $26.23 on Friday. The company’s 50 day moving average price is $26.14 and its 200 day moving average price is $23.67. The firm has a market capitalization of $7.48 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 0.54 and a beta of 0.54. Exelixis has a fifty-two week low of $18.64 and a fifty-two week high of $27.83.

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

Insider Buying and Selling

In other Exelixis news, EVP Jeffrey Hessekiel sold 25,000 shares of the company’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 completion of the sale, the executive vice president now directly owns 605,325 shares of the company’s stock, valued at $15,968,473.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Maria C. Freire sold 8,250 shares of Exelixis stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $26.56, for a total value of $219,120.00. Following the transaction, the director now directly owns 91,007 shares in the company, valued at $2,417,145.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jeffrey Hessekiel sold 25,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $26.38, for a total transaction of $659,500.00. Following the completion of the transaction, the executive vice president now directly owns 605,325 shares in the company, valued at $15,968,473.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 327,858 shares of company stock valued at $8,640,129 over the last quarter. 2.85% of the stock is currently owned by insiders.

Institutional Trading of Exelixis

Several hedge funds and other institutional investors have recently made changes to their positions in EXEL. Fisher Asset Management LLC lifted its position in Exelixis by 232.6% in the fourth quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 728 shares during the period. Rise Advisors LLC purchased a new position in shares of Exelixis during the 1st quarter worth approximately $28,000. Park Place Capital Corp acquired a new stake in shares of Exelixis in the 2nd quarter valued at approximately $45,000. GAMMA Investing LLC boosted its stake in shares of Exelixis by 107.9% in the second quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 1,041 shares in the last quarter. Finally, EntryPoint Capital LLC grew its holdings in Exelixis by 537.2% during the first quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock worth $49,000 after acquiring an additional 1,746 shares during the period. Hedge funds and other institutional investors 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.