Exelixis (NASDAQ:EXEL) Price Target Raised to $41.00

Exelixis (NASDAQ:EXEL) had its target price hoisted by equities researchers at Oppenheimer from $38.00 to $41.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the biotechnology company’s stock. Oppenheimer’s price target suggests a potential upside of 11.14% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Guggenheim lifted their target price on Exelixis from $33.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. HC Wainwright boosted their price objective on Exelixis from $29.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Wells Fargo & Company increased their target price on Exelixis from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. JMP Securities boosted their price target on shares of Exelixis from $34.00 to $41.00 and gave the company a “market outperform” rating in a report on Wednesday. Finally, Stephens increased their price objective on shares of Exelixis from $23.00 to $29.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Exelixis has an average rating of “Moderate Buy” and an average target price of $35.50.

Exelixis Price Performance

EXEL traded down $0.38 during trading on Thursday, hitting $36.89. The company had a trading volume of 551,320 shares, compared to its average volume of 2,462,530. Exelixis has a 1-year low of $20.01 and a 1-year high of $37.59. The company has a market cap of $10.54 billion, a PE ratio of 23.65, a P/E/G ratio of 0.87 and a beta of 0.53. The business has a 50-day moving average of $34.95 and a 200-day moving average of $29.14.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. The company had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The company’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 EPS. Research analysts forecast that Exelixis will post 1.7 earnings per share for the current year.

Insider Transactions at Exelixis

In related news, EVP Dana Aftab sold 96,986 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $35.00, for a total value of $3,394,510.00. Following the sale, the executive vice president now directly owns 498,945 shares in the company, valued at $17,463,075. The trade was a 16.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 314,736 shares of company stock valued at $10,849,110. Corporate insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC boosted its position in shares of Exelixis by 45.3% in the 2nd quarter. Hsbc Holdings PLC now owns 90,211 shares of the biotechnology company’s stock valued at $2,031,000 after purchasing an additional 28,126 shares during the period. Farallon Capital Management LLC lifted its stake in Exelixis by 1.6% during the second quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock valued at $608,993,000 after buying an additional 424,000 shares in the last quarter. Seizert Capital Partners LLC boosted its holdings in shares of Exelixis by 8.0% in the third quarter. Seizert Capital Partners LLC now owns 469,940 shares of the biotechnology company’s stock worth $12,195,000 after buying an additional 34,875 shares during the period. Los Angeles Capital Management LLC increased its position in shares of Exelixis by 124.0% in the third quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock worth $46,473,000 after acquiring an additional 991,494 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Exelixis by 60.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 54,863 shares of the biotechnology company’s stock valued at $1,424,000 after acquiring an additional 20,641 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

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.