Exelixis (NASDAQ:EXEL) Price Target Raised to $36.00 at Stifel Nicolaus

Exelixis (NASDAQ:EXEL) had its price objective boosted by research analysts at Stifel Nicolaus from $30.00 to $36.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the biotechnology company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 2.58% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Brookline Capital Management assumed coverage on shares of Exelixis in a research report on Monday, December 23rd. They set a “buy” rating for the company. JMP Securities reaffirmed a “market outperform” rating and set a $41.00 target price on shares of Exelixis in a research report on Thursday, January 23rd. The Goldman Sachs Group raised shares of Exelixis to a “strong sell” rating in a research report on Tuesday, October 15th. Bank of America lowered shares of Exelixis from a “buy” rating to a “neutral” rating and increased their price target for the company from $35.00 to $39.00 in a research report on Tuesday, December 17th. Finally, Morgan Stanley upgraded shares of Exelixis from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $30.00 to $40.00 in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Exelixis presently has an average rating of “Moderate Buy” and a consensus target price of $36.50.

Exelixis Stock Up 7.0 %

Shares of NASDAQ EXEL traded up $2.28 during trading hours on Wednesday, hitting $35.09. The company had a trading volume of 822,996 shares, compared to its average volume of 2,427,834. The firm’s 50 day moving average is $34.30 and its 200-day moving average is $30.71. The stock has a market capitalization of $10.02 billion, a P/E ratio of 22.58, a price-to-earnings-growth ratio of 0.63 and a beta of 0.53. Exelixis has a 1-year low of $20.14 and a 1-year high of $37.59.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a net margin of 22.43% and a return on equity of 20.99%. On average, sell-side analysts predict that Exelixis will post 1.74 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Patrick J. Haley sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $35.27, for a total transaction of $352,700.00. Following the completion of the transaction, the executive vice president now owns 278,665 shares in the company, valued at $9,828,514.55. This trade represents a 3.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 stock was sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the transaction, the executive vice president now directly owns 486,059 shares of the company’s stock, valued at $17,823,783.53. The trade was a 10.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 111,588 shares of company stock valued at $3,981,864 over the last quarter. 2.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On Exelixis

A number of institutional investors have recently added to or reduced their stakes in EXEL. Principal Securities Inc. grew its stake in shares of Exelixis by 62.8% during the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 373 shares during the last quarter. USA Financial Formulas purchased a new position in Exelixis in the 4th quarter worth $32,000. V Square Quantitative Management LLC acquired a new stake in Exelixis during the 3rd quarter worth about $30,000. Kestra Investment Management LLC purchased a new stake in Exelixis during the 4th quarter valued at about $39,000. Finally, UMB Bank n.a. boosted its position in Exelixis by 68.4% in the fourth quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 553 shares during 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.