Guggenheim Boosts Exelixis (NASDAQ:EXEL) Price Target to $42.00

Exelixis (NASDAQ:EXEL) had its price target hoisted by equities research analysts at Guggenheim from $33.00 to $42.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. Guggenheim’s price target suggests a potential upside of 23.38% from the company’s previous close.

EXEL has been the topic of several other reports. Royal Bank of Canada reissued an “outperform” rating and set a $34.00 target price on shares of Exelixis in a report on Wednesday, October 30th. TD Cowen boosted their target price on shares of Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Truist Financial boosted their price objective on shares of Exelixis from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Brookline Capital Management began coverage on Exelixis in a report on Monday, December 23rd. They set a “buy” rating for the company. Finally, Stifel Nicolaus raised their price objective on Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Exelixis Stock Up 2.5 %

Shares of NASDAQ EXEL traded up $0.84 during mid-day trading on Tuesday, reaching $34.04. 879,581 shares of the company were exchanged, compared to its average volume of 1,502,253. The stock has a market capitalization of $9.72 billion, a P/E ratio of 21.82, a P/E/G ratio of 0.89 and a beta of 0.53. Exelixis has a twelve month low of $19.20 and a twelve month high of $36.97. The company’s 50-day simple moving average is $34.67 and its 200-day simple moving average is $28.54.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The company had revenue of $539.50 million during the quarter, compared to analysts’ expectations of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. Exelixis’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.10 earnings per share. As a group, equities research analysts expect that Exelixis will post 1.69 EPS for the current year.

Insider Buying and Selling at Exelixis

In related news, EVP Dana Aftab sold 1,162 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total value of $36,486.80. Following the completion of the sale, the executive vice president now directly owns 498,945 shares of the company’s stock, valued at approximately $15,666,873. This represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 in the company, valued at $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 sold 314,736 shares of company stock worth $10,849,110. 2.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Exelixis

Institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new stake in shares of Exelixis in the third quarter valued at $30,000. Brooklyn Investment Group bought a new stake in Exelixis during the 3rd quarter valued at $42,000. Capital Performance Advisors LLP purchased a new stake in shares of Exelixis during the third quarter worth $61,000. Essex Investment Management Co. LLC bought a new position in shares of Exelixis in the third quarter worth $74,000. Finally, GAMMA Investing LLC grew its holdings in Exelixis by 50.0% during the 3rd quarter. GAMMA Investing LLC now owns 3,010 shares of the biotechnology company’s stock valued at $78,000 after buying an additional 1,004 shares in 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.