Exelixis (NASDAQ:EXEL) Given a $56.00 Price Target at Truist Financial

Truist Financial set a $56.00 target price on Exelixis (NASDAQ:EXEL) in a report released on Tuesday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the biotechnology company’s stock.

A number of other equities analysts also recently weighed in on the stock. Stephens raised shares of Exelixis from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $29.00 to $60.00 in a research note on Tuesday, June 24th. JMP Securities raised their price objective on Exelixis from $47.00 to $50.00 and gave the company a “market outperform” rating in a research report on Monday, June 23rd. HC Wainwright boosted their target price on Exelixis from $47.00 to $53.00 and gave the stock a “buy” rating in a report on Monday, June 30th. UBS Group set a $43.00 target price on Exelixis and gave the stock a “neutral” rating in a research note on Friday, July 11th. Finally, Citigroup lifted their price target on Exelixis from $45.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Exelixis currently has a consensus rating of “Moderate Buy” and an average price target of $45.28.

Exelixis Trading Down 3.3%

Shares of NASDAQ:EXEL opened at $44.06 on Tuesday. The company has a 50-day moving average price of $42.68 and a 200-day moving average price of $38.21. The company has a market cap of $12.02 billion, a price-to-earnings ratio of 20.03, a price-to-earnings-growth ratio of 0.91 and a beta of 0.28. Exelixis has a 12 month low of $22.20 and a 12 month high of $49.62.

Insider Buying and Selling

In other Exelixis news, CMO Amy C. Peterson sold 72,776 shares of the firm’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $45.47, for a total value of $3,309,124.72. Following the transaction, the chief marketing officer directly owned 465,393 shares of the company’s stock, valued at approximately $21,161,419.71. This trade represents a 13.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jack L. Wyszomierski sold 7,535 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $43.09, for a total value of $324,683.15. Following the sale, the director owned 358,882 shares of the company’s stock, valued at approximately $15,464,225.38. This represents a 2.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 458,113 shares of company stock valued at $21,024,817 in the last ninety days. Corporate insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Institutional investors have recently made changes to their positions in the business. Retirement Guys Formula LLC bought a new stake in Exelixis during the second quarter valued at approximately $208,000. TD Private Client Wealth LLC boosted its stake in shares of Exelixis by 13.5% during the 2nd quarter. TD Private Client Wealth LLC now owns 14,687 shares of the biotechnology company’s stock worth $647,000 after acquiring an additional 1,743 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Exelixis by 12.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 106,557 shares of the biotechnology company’s stock valued at $4,696,000 after acquiring an additional 11,993 shares during the period. Sheets Smith Wealth Management purchased a new stake in shares of Exelixis in the 2nd quarter worth $519,000. Finally, Occidental Asset Management LLC bought a new position in Exelixis in the 2nd quarter worth $376,000. 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.