Exelixis (NASDAQ:EXEL) Price Target Raised to $50.00

Exelixis (NASDAQ:EXEL) had its target price upped by JMP Securities from $47.00 to $50.00 in a research note published on Monday,Benzinga reports. They currently have a market outperform rating on the biotechnology company’s stock.

EXEL has been the subject of several other research reports. Bank of America boosted their price objective on shares of Exelixis from $45.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, June 5th. UBS Group reiterated an “underperform” rating on shares of Exelixis in a research note on Thursday, April 17th. Stifel Nicolaus boosted their price objective on shares of Exelixis from $36.00 to $38.00 and gave the stock a “hold” rating in a research note on Wednesday, May 14th. Royal Bank Of Canada reiterated an “outperform” rating and set a $40.00 price objective on shares of Exelixis in a research note on Wednesday, May 14th. Finally, HC Wainwright reiterated a “buy” rating and set a $47.00 price objective (up previously from $40.00) on shares of Exelixis in a research note on Thursday, June 12th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Exelixis has a consensus rating of “Moderate Buy” and a consensus price target of $42.82.

Exelixis Stock Down 4.8%

NASDAQ EXEL opened at $43.53 on Monday. The firm has a market cap of $11.87 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 0.92 and a beta of 0.28. The company has a 50 day moving average price of $40.78 and a 200 day moving average price of $37.21. Exelixis has a 52 week low of $21.82 and a 52 week high of $49.62.

Insider Activity

In other news, EVP Patrick J. Haley sold 126,383 shares of the company’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $47.96, for a total value of $6,061,328.68. Following the sale, the executive vice president now directly owns 446,459 shares of the company’s stock, valued at $21,412,173.64. This represents a 22.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dana Aftab sold 1,508 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $39.00, for a total transaction of $58,812.00. Following the completion of the sale, the executive vice president now directly owns 693,181 shares in the company, valued at $27,034,059. This trade represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 458,113 shares of company stock valued at $21,024,817 in the last ninety days. Insiders own 2.82% of the company’s stock.

Institutional Trading of Exelixis

A number of hedge funds have recently added to or reduced their stakes in the company. Voya Investment Management LLC boosted its holdings in Exelixis by 21.0% during the first quarter. Voya Investment Management LLC now owns 327,296 shares of the biotechnology company’s stock worth $12,084,000 after buying an additional 56,708 shares in the last quarter. Modern Wealth Management LLC purchased a new stake in Exelixis during the first quarter worth $251,000. Strs Ohio purchased a new stake in Exelixis during the first quarter worth $2,267,000. Ellsworth Advisors LLC purchased a new stake in Exelixis during the first quarter worth $3,589,000. Finally, Geneos Wealth Management Inc. boosted its holdings in Exelixis by 134.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company’s stock worth $61,000 after buying an additional 944 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

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.