Exelixis (NASDAQ:EXEL) Price Target Raised to $45.00

Exelixis (NASDAQ:EXEL) had its price target increased by Citigroup from $38.00 to $45.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the biotechnology company’s stock.

Several other analysts have also recently commented on EXEL. TD Cowen raised their price target on Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a report on Monday, October 21st. Stifel Nicolaus lifted their price objective on Exelixis from $30.00 to $36.00 and gave the stock a “hold” rating in a report on Wednesday. Truist Financial lifted their price objective on Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Bank of America cut Exelixis from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $35.00 to $39.00 in a report on Tuesday, December 17th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $41.00 price objective on shares of Exelixis in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.24.

Exelixis Price Performance

EXEL opened at $35.00 on Wednesday. The business has a 50 day simple moving average of $34.19 and a 200-day simple moving average of $30.83. The stock has a market capitalization of $10.00 billion, a P/E ratio of 22.44, a P/E/G ratio of 0.63 and a beta of 0.53. Exelixis has a 12 month low of $20.14 and a 12 month high of $37.59.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a net margin of 22.43% and a return on equity of 20.99%. Research analysts anticipate that Exelixis will post 1.74 EPS for the current year.

Insider Activity

In other news, EVP Patrick J. Haley sold 10,000 shares of Exelixis stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $35.27, for a total value of $352,700.00. Following the completion of the sale, the executive vice president now owns 278,665 shares of the company’s stock, valued at $9,828,514.55. The trade was a 3.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey Hessekiel sold 60,000 shares of Exelixis stock in a transaction on Friday, November 29th. The shares were sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the sale, the executive vice president now directly owns 486,059 shares of the company’s stock, valued at approximately $17,823,783.53. This represents a 10.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,588 shares of company stock valued at $3,981,864 over the last quarter. Company insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

A number of institutional investors have recently added to or reduced their stakes in EXEL. GAMMA Investing LLC grew its position in Exelixis by 50.0% during the third quarter. GAMMA Investing LLC now owns 3,010 shares of the biotechnology company’s stock valued at $78,000 after acquiring an additional 1,004 shares during the period. CWM LLC grew its position in Exelixis by 73.3% during the third quarter. CWM LLC now owns 34,643 shares of the biotechnology company’s stock valued at $899,000 after acquiring an additional 14,655 shares during the period. Kapitalo Investimentos Ltda purchased a new stake in Exelixis during the third quarter valued at about $522,000. V Square Quantitative Management LLC purchased a new stake in Exelixis during the third quarter valued at about $30,000. Finally, Inspire Advisors LLC grew its position in Exelixis by 24.9% during the third quarter. Inspire Advisors LLC now owns 25,207 shares of the biotechnology company’s stock valued at $654,000 after acquiring an additional 5,023 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.