Exelixis (NASDAQ:EXEL) PT Raised to $36.00

Exelixis (NASDAQ:EXEL) had its price target boosted by investment analysts at BMO Capital Markets from $29.00 to $36.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the biotechnology company’s stock. BMO Capital Markets’ target price indicates a potential upside of 9.82% from the company’s previous close.

EXEL has been the topic of several other reports. UBS Group began coverage on Exelixis in a report on Thursday, September 19th. They set a “neutral” rating and a $30.00 target price on the stock. Morgan Stanley boosted their target price on shares of Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. Oppenheimer reiterated an “outperform” rating and set a $29.00 price target on shares of Exelixis in a research report on Tuesday, July 30th. StockNews.com upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 13th. Finally, Bank of America raised their target price on Exelixis from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $30.00.

Exelixis Stock Performance

Shares of EXEL stock traded up $4.05 during midday trading on Wednesday, hitting $32.78. 1,713,175 shares of the company were exchanged, compared to its average volume of 2,020,749. The firm’s 50 day moving average price is $26.69 and its two-hundred day moving average price is $24.09. The firm has a market capitalization of $9.35 billion, a P/E ratio of 27.46, a PEG ratio of 0.61 and a beta of 0.54. Exelixis has a 52 week low of $19.20 and a 52 week high of $32.98.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.44. The business had revenue of $637.18 million for the quarter, compared to analyst estimates of $468.21 million. Exelixis had a net margin of 17.38% and a return on equity of 15.54%. Analysts expect that Exelixis will post 1.58 EPS for the current year.

Insider Buying and Selling

In other news, EVP Jeffrey Hessekiel sold 25,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $26.38, for a total transaction of $659,500.00. Following the completion of the transaction, the executive vice president now owns 605,325 shares of the company’s stock, valued at approximately $15,968,473.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Jeffrey Hessekiel sold 25,000 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $26.38, for a total value of $659,500.00. Following the completion of the sale, the executive vice president now owns 605,325 shares of the company’s stock, valued at approximately $15,968,473.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Dana Aftab sold 95,000 shares of Exelixis stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total value of $2,375,000.00. Following the completion of the transaction, the executive vice president now directly owns 520,990 shares in the company, valued at approximately $13,024,750. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 327,858 shares of company stock worth $8,640,129 in the last ninety days. Company insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. QRG Capital Management Inc. raised its holdings in shares of Exelixis by 6.4% in the 3rd quarter. QRG Capital Management Inc. now owns 54,879 shares of the biotechnology company’s stock worth $1,424,000 after acquiring an additional 3,321 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Exelixis by 263.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 483,064 shares of the biotechnology company’s stock worth $12,536,000 after acquiring an additional 350,026 shares in the last quarter. Fort L.P. purchased a new stake in Exelixis in the 3rd quarter valued at about $225,000. Van ECK Associates Corp lifted its position in shares of Exelixis by 66.2% during the 3rd quarter. Van ECK Associates Corp now owns 173,584 shares of the biotechnology company’s stock worth $4,916,000 after buying an additional 69,134 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of Exelixis by 467.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,940 shares of the biotechnology company’s stock worth $102,000 after buying an additional 3,246 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

About Exelixis

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.