Exelixis (NASDAQ:EXEL) Stock Price Expected to Rise, UBS Group Analyst Says

Exelixis (NASDAQ:EXEL) had its price target raised by equities research analysts at UBS Group from $43.00 to $52.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the biotechnology company’s stock. UBS Group’s price objective would suggest a potential downside of 3.63% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Wall Street Zen upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Exelixis in a report on Tuesday, May 19th. Zacks Research lowered shares of Exelixis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Morgan Stanley reiterated a “positive” rating on shares of Exelixis in a report on Monday, June 22nd. Finally, Citizens Jmp raised their price target on shares of Exelixis from $50.00 to $55.00 and gave the company a “market outperform” rating in a research report on Wednesday, June 24th. Eight research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $47.60.

Exelixis Price Performance

EXEL opened at $53.96 on Thursday. Exelixis has a fifty-two week low of $33.76 and a fifty-two week high of $55.91. The firm has a market capitalization of $13.56 billion, a PE ratio of 17.93, a P/E/G ratio of 1.57 and a beta of 0.42. The company’s 50-day moving average is $50.18 and its 200 day moving average is $45.80.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.12. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The firm had revenue of $610.81 million during the quarter, compared to analyst estimates of $607.51 million. During the same period in the previous year, the company posted $0.55 EPS. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, analysts expect that Exelixis will post 3.16 EPS for the current year.

Insider Activity

In related news, EVP Patrick J. Haley sold 32,110 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $49.81, for a total transaction of $1,599,399.10. Following the completion of the sale, the executive vice president owned 357,638 shares in the company, valued at approximately $17,813,948.78. This trade represents a 8.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sue Gail Eckhardt sold 9,812 shares of Exelixis stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $50.14, for a total transaction of $491,973.68. Following the completion of the sale, the director directly owned 16,079 shares in the company, valued at approximately $806,201.06. This represents a 37.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 219,170 shares of company stock worth $10,620,641. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Exelixis

Several large investors have recently added to or reduced their stakes in the company. Anchor Investment Management LLC boosted its position in shares of Exelixis by 500.0% in the third quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 500 shares during the period. Motiv8 Investments LLC bought a new stake in Exelixis during the 4th quarter worth approximately $26,000. Cassaday & Co Wealth Management LLC purchased a new stake in Exelixis in the 1st quarter worth approximately $27,000. Western Wealth Management LLC purchased a new stake in Exelixis in the 1st quarter worth approximately $29,000. Finally, Acumen Wealth Advisors LLC bought a new position in Exelixis in the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Exelixis Company Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.