Exelixis (NASDAQ:EXEL) PT Raised to $34.00

Exelixis (NASDAQ:EXEL) had its price objective hoisted by research analysts at Royal Bank of Canada from $30.00 to $34.00 in a research report issued to clients and investors on Wednesday, Marketbeat reports. The brokerage presently has an “outperform” rating on the biotechnology company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 19.30% from the company’s previous close.

Several other brokerages also recently weighed in on EXEL. UBS Group started coverage on Exelixis in a report on Thursday, September 19th. They set a “neutral” rating and a $30.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $29.00 price target on shares of Exelixis in a report on Wednesday, September 18th. Morgan Stanley increased their price target on Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. Bank of America increased their price target on Exelixis from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, StockNews.com raised Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 13th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.07.

Exelixis Trading Up 8.6 %

EXEL stock opened at $28.50 on Wednesday. The company has a market capitalization of $8.64 billion, a P/E ratio of 44.53, a PEG ratio of 0.54 and a beta of 0.54. Exelixis has a twelve month low of $18.64 and a twelve month high of $28.99. The business has a 50 day simple moving average of $26.29 and a 200-day simple moving average of $23.72.

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

Insider Activity

In other news, EVP Dana Aftab sold 95,000 shares of the firm’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 completion of the transaction, the executive vice president now owns 520,990 shares in the company, valued at $13,024,750. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Dana Aftab sold 95,000 shares of Exelixis stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total transaction of $2,375,000.00. Following the completion of the sale, the executive vice president now owns 520,990 shares in the company, valued at approximately $13,024,750. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Christopher J. Senner sold 125,000 shares of Exelixis stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $27.19, for a total value of $3,398,750.00. Following the sale, the chief financial officer now owns 721,680 shares of the company’s stock, valued at approximately $19,622,479.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 327,858 shares of company stock worth $8,640,129 over the last 90 days. 2.85% of the stock is currently owned by corporate insiders.

Institutional Trading of Exelixis

A number of hedge funds have recently added to or reduced their stakes in EXEL. Fisher Asset Management LLC boosted its stake in Exelixis by 232.6% in the 4th quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock worth $25,000 after buying an additional 728 shares during the last quarter. Rise Advisors LLC acquired a new stake in Exelixis in the 1st quarter worth about $28,000. Park Place Capital Corp acquired a new stake in Exelixis in the 2nd quarter worth about $45,000. GAMMA Investing LLC boosted its stake in Exelixis by 107.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock worth $45,000 after buying an additional 1,041 shares during the last quarter. Finally, EntryPoint Capital LLC boosted its stake in Exelixis by 537.2% in the 1st quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock worth $49,000 after buying an additional 1,746 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

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.