Exelixis, Inc. (NASDAQ:EXEL) Stock Has Consensus Price Target of $50.29

Shares of Exelixis, Inc. (NASDAQ:EXEL) have received an average recommendation of “Hold” from the twenty brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $50.29.

A number of brokerages have weighed in on EXEL. Truist Financial lowered their price objective on Exelixis from $56.00 to $52.00 and set a “hold” rating for the company in a research note on Thursday, August 6th. HC Wainwright reiterated a “buy” rating and set a $56.00 target price on shares of Exelixis in a research note on Thursday, July 2nd. Wall Street Zen downgraded shares of Exelixis from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Morgan Stanley lifted their price target on shares of Exelixis from $50.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. Finally, Zacks Research raised shares of Exelixis from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 1st.

Insider Buying and Selling at Exelixis

In other news, Director Mary Beckerle sold 9,812 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $53.66, for a total value of $526,511.92. Following the completion of the sale, the director owned 16,079 shares of the company’s stock, valued at approximately $862,799.14. The trade was a 37.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in Exelixis during the 2nd quarter worth approximately $1,581,991,000. Dimensional Fund Advisors LP increased its holdings in shares of Exelixis by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,299,597 shares of the biotechnology company’s stock valued at $184,391,000 after acquiring an additional 39,920 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Exelixis by 1.7% in the 1st quarter. Assetmark Inc. now owns 3,388,920 shares of the biotechnology company’s stock valued at $145,351,000 after acquiring an additional 58,149 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Exelixis by 62.0% in the 1st quarter. First Trust Advisors LP now owns 2,534,992 shares of the biotechnology company’s stock valued at $108,726,000 after acquiring an additional 970,144 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Exelixis during the 4th quarter valued at approximately $106,460,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Exelixis Price Performance

NASDAQ:EXEL opened at $58.37 on Tuesday. The firm has a 50-day moving average of $55.68 and a two-hundred day moving average of $51.19. The stock has a market cap of $14.46 billion, a P/E ratio of 18.36, a PEG ratio of 1.73 and a beta of 0.42. Exelixis has a 1-year low of $33.76 and a 1-year high of $59.72.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. Exelixis had a return on equity of 42.17% and a net margin of 35.33%.The company had revenue of $628.69 million during the quarter, compared to the consensus estimate of $636.40 million. During the same period last year, the firm earned $0.75 earnings per share. The company’s revenue was up 10.6% on a year-over-year basis. As a group, equities analysts expect that Exelixis will post 3.19 earnings per share for the current year.

About Exelixis

Exelixis, Inc (NASDAQ: EXEL) is a biopharmaceutical company focused on discovering, developing and commercializing medicines for cancer and other serious diseases. The company’s research and development activities center on targeted therapies designed to address biological pathways involved in tumor growth and progression.

Exelixis’ principal product is cabozantinib, marketed in the United States as CABOMETYX tablets for certain patients with advanced renal cell carcinoma, hepatocellular carcinoma and radioactive iodine-refractory differentiated thyroid cancer.