Piper Sandler Issues Positive Forecast for Exelixis (NASDAQ:EXEL) Stock Price

Exelixis (NASDAQ:EXEL) had its price target increased by research analysts at Piper Sandler from $33.00 to $36.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the biotechnology company’s stock. Piper Sandler’s price target would indicate a potential upside of 10.74% from the company’s current price.

A number of other brokerages also recently weighed in on EXEL. Oppenheimer reaffirmed an “outperform” rating and set a $29.00 price target on shares of Exelixis in a report on Tuesday, July 30th. HC Wainwright reiterated a “buy” rating and set a $29.00 target price on shares of Exelixis in a research report on Wednesday, September 18th. The Goldman Sachs Group upgraded shares of Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. UBS Group started coverage on Exelixis in a report on Thursday, September 19th. They issued a “neutral” rating and a $30.00 price objective for the company. Finally, Bank of America lifted their target price on Exelixis from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.00.

Exelixis Stock Up 13.2 %

Shares of Exelixis stock traded up $3.78 on Wednesday, hitting $32.51. The stock had a trading volume of 4,229,107 shares, compared to its average volume of 2,034,908. The stock has a market cap of $9.27 billion, a price-to-earnings ratio of 28.04, a price-to-earnings-growth ratio of 0.61 and a beta of 0.54. Exelixis has a twelve month low of $19.20 and a twelve month high of $33.32. The business’s 50 day moving average is $26.69 and its two-hundred day moving average is $24.09.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results 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 business had revenue of $637.18 million for the quarter, compared to the consensus estimate of $468.21 million. As a group, equities analysts predict that Exelixis will post 1.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other 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 completion of the sale, the executive vice president now owns 605,325 shares in the company, valued at $15,968,473.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Jeffrey Hessekiel sold 25,000 shares of Exelixis stock in a transaction dated 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Dana Aftab sold 95,000 shares of the company’s 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 $13,024,750. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 327,858 shares of company stock valued at $8,640,129. 2.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On Exelixis

Institutional investors and hedge funds have recently bought and sold shares of the stock. V Square Quantitative Management LLC purchased a new position in Exelixis in the third quarter worth $30,000. Park Place Capital Corp purchased a new stake in Exelixis during the second quarter worth about $45,000. GAMMA Investing LLC raised its position in Exelixis by 107.9% in the second quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 1,041 shares during the period. EntryPoint Capital LLC boosted its stake in Exelixis by 537.2% in the first quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock valued at $49,000 after acquiring an additional 1,746 shares during the last quarter. Finally, Essex Investment Management Co. LLC purchased a new position in Exelixis in the third quarter valued at about $74,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

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.