Exelixis (NASDAQ:EXEL) Stock Price Expected to Rise, Guggenheim Analyst Says

Exelixis (NASDAQ:EXEL) had its price target upped by Guggenheim from $33.00 to $42.00 in a research report released on Tuesday,Benzinga reports. Guggenheim currently has a buy rating on the biotechnology company’s stock.

Other equities research analysts also recently issued research reports about the company. Piper Sandler raised their price target on Exelixis from $33.00 to $36.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Truist Financial boosted their target price on Exelixis from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. BMO Capital Markets downgraded shares of Exelixis from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $36.00 to $40.00 in a research note on Friday, December 20th. TD Cowen upped their price objective on shares of Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company lifted their target price on shares of Exelixis from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.00.

Exelixis Stock Up 3.0 %

NASDAQ:EXEL opened at $34.21 on Tuesday. The stock has a market cap of $9.77 billion, a P/E ratio of 21.93, a PEG ratio of 0.89 and a beta of 0.53. The business’s 50-day moving average price is $34.78 and its two-hundred day moving average price is $28.63. Exelixis has a twelve month low of $19.20 and a twelve month high of $36.97.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. The business had revenue of $539.50 million during the quarter, compared to analyst estimates of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. Exelixis’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.10 earnings per share. On average, equities research analysts expect that Exelixis will post 1.69 EPS for the current fiscal year.

Insider Activity at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 41,588 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.36, for a total value of $1,428,963.68. Following the sale, the executive vice president now owns 288,665 shares in the company, valued at approximately $9,918,529.40. This represents a 12.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Dana Aftab sold 1,162 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total value of $36,486.80. Following the completion of the sale, the executive vice president now directly owns 498,945 shares in the company, valued at approximately $15,666,873. This represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 314,736 shares of company stock worth $10,849,110 over the last ninety days. 2.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Exelixis

A number of hedge funds have recently bought and sold shares of EXEL. Farallon Capital Management LLC increased its stake in Exelixis by 1.6% during the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock valued at $608,993,000 after purchasing an additional 424,000 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Exelixis by 0.4% during the second quarter. Renaissance Technologies LLC now owns 15,163,066 shares of the biotechnology company’s stock valued at $340,714,000 after acquiring an additional 61,350 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Exelixis by 7.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,137,201 shares of the biotechnology company’s stock worth $115,434,000 after acquiring an additional 349,837 shares during the last quarter. AQR Capital Management LLC lifted its position in Exelixis by 12.7% in the 2nd quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock valued at $73,425,000 after acquiring an additional 370,199 shares in the last quarter. Finally, FMR LLC lifted its position in Exelixis by 6.1% in the 3rd quarter. FMR LLC now owns 2,462,072 shares of the biotechnology company’s stock valued at $63,891,000 after acquiring an additional 140,568 shares in the last quarter. 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.