Truist Financial Forecasts Strong Price Appreciation for Exelixis (NASDAQ:EXEL) Stock

Exelixis (NASDAQ:EXEL) had its target price hoisted by Truist Financial from $33.00 to $38.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Truist Financial’s target price suggests a potential upside of 14.46% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. StockNews.com raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 13th. Royal Bank of Canada increased their price objective on shares of Exelixis from $30.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. JMP Securities reissued a “market outperform” rating and issued a $29.00 price objective on shares of Exelixis in a research note on Friday, October 11th. Stifel Nicolaus upped their target price on Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Finally, TD Cowen raised their price target on Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Exelixis has a consensus rating of “Moderate Buy” and a consensus price target of $31.44.

Exelixis Trading Up 2.3 %

Shares of NASDAQ EXEL opened at $33.20 on Wednesday. The stock has a market capitalization of $9.47 billion, a price-to-earnings ratio of 28.62, a P/E/G ratio of 0.61 and a beta of 0.54. Exelixis has a 12-month low of $19.20 and a 12-month high of $33.60. The firm’s 50-day moving average price is $26.96 and its 200-day moving average price is $24.21.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share (EPS) 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 analyst estimates of $468.21 million. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. On average, equities analysts predict that Exelixis will post 1.58 EPS for the current fiscal year.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Jeffrey Hessekiel sold 25,000 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $28.39, for a total transaction of $709,750.00. Following the completion of the sale, the executive vice president now directly owns 580,325 shares of the company’s stock, valued at approximately $16,475,426.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Dana Aftab sold 95,000 shares of the firm’s stock in a transaction dated 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 directly 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 document filed with the SEC, which is available through the SEC website. Also, EVP Jeffrey Hessekiel sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $28.39, for a total value of $709,750.00. Following the completion of the sale, the executive vice president now owns 580,325 shares in the company, valued at approximately $16,475,426.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 352,858 shares of company stock worth $9,349,879 over the last quarter. Insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

Several institutional investors and hedge funds have recently bought and sold shares of EXEL. First Trust Direct Indexing L.P. purchased a new position in shares of Exelixis during the first quarter worth $250,000. Commonwealth Equity Services LLC raised its stake in shares of Exelixis by 4.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 128,033 shares of the biotechnology company’s stock valued at $3,038,000 after buying an additional 5,037 shares during the last quarter. Smith Group Asset Management LLC acquired a new position in shares of Exelixis in the 1st quarter valued at about $228,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Exelixis by 3.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,771 shares of the biotechnology company’s stock valued at $778,000 after buying an additional 1,301 shares during the period. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Exelixis by 6.1% in the first quarter. Janney Montgomery Scott LLC now owns 60,746 shares of the biotechnology company’s stock worth $1,442,000 after buying an additional 3,510 shares during the last quarter. 85.27% of the stock is currently 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.