Brokerages Set Exelixis, Inc. (NASDAQ:EXEL) PT at $45.95

Exelixis, Inc. (NASDAQ:EXEL) has been assigned an average rating of “Hold” from the twenty-six ratings firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $45.9474.

Several research firms have recently issued reports on EXEL. TD Cowen lifted their price target on Exelixis from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $45.00 target price on shares of Exelixis in a report on Tuesday, October 21st. Cowen reiterated a “buy” rating on shares of Exelixis in a research note on Wednesday, November 5th. HC Wainwright boosted their price target on Exelixis from $49.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. Finally, Truist Financial set a $51.00 price objective on Exelixis in a report on Wednesday, January 14th.

Insider Activity at Exelixis

In other news, EVP Dana Aftab sold 48,383 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $42.50, for a total transaction of $2,056,277.50. Following the completion of the transaction, the executive vice president directly owned 664,778 shares of the company’s stock, valued at $28,253,065. The trade was a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Patrick J. Haley sold 34,187 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $41.88, for a total transaction of $1,431,751.56. The SEC filing for this sale provides additional information. Insiders sold 245,235 shares of company stock valued at $10,490,600 over the last ninety days. Company insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

A number of hedge funds have recently bought and sold shares of the company. Truist Financial Corp boosted its position in Exelixis by 1.1% in the second quarter. Truist Financial Corp now owns 22,292 shares of the biotechnology company’s stock worth $983,000 after purchasing an additional 250 shares during the last quarter. Police & Firemen s Retirement System of New Jersey lifted its stake in shares of Exelixis by 0.3% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 102,581 shares of the biotechnology company’s stock worth $4,521,000 after purchasing an additional 274 shares during the period. Richardson Financial Services Inc. boosted its holdings in shares of Exelixis by 95.1% in the third quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock worth $25,000 after buying an additional 292 shares during the last quarter. RHS Financial LLC boosted its holdings in shares of Exelixis by 2.4% in the fourth quarter. RHS Financial LLC now owns 12,619 shares of the biotechnology company’s stock worth $553,000 after buying an additional 293 shares during the last quarter. Finally, Cim LLC grew its position in Exelixis by 0.9% during the third quarter. Cim LLC now owns 35,397 shares of the biotechnology company’s stock valued at $1,462,000 after buying an additional 305 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Exelixis Stock Performance

Shares of NASDAQ EXEL opened at $43.96 on Thursday. The company has a 50 day simple moving average of $43.58 and a two-hundred day simple moving average of $41.09. Exelixis has a fifty-two week low of $31.90 and a fifty-two week high of $49.62. The company has a market capitalization of $11.79 billion, a price-to-earnings ratio of 18.55, a P/E/G ratio of 0.79 and a beta of 0.40.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.10. The company had revenue of $597.76 million for the quarter, compared to the consensus estimate of $590.04 million. Exelixis had a return on equity of 31.06% and a net margin of 29.63%.The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.47 EPS. On average, analysts forecast that Exelixis will post 2.04 earnings per share for the current fiscal year.

About Exelixis

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.