Exelixis (NASDAQ:EXEL) Price Target Increased to $27.00 by Analysts at TD Cowen

Exelixis (NASDAQ:EXEL) had its target price hoisted by TD Cowen from $25.00 to $27.00 in a report released on Wednesday, Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock.

A number of other research analysts have also recently commented on the company. JMP Securities restated a market outperform rating and set a $27.00 price target on shares of Exelixis in a research note on Wednesday, April 10th. Barclays cut Exelixis from an overweight rating to an equal weight rating and set a $25.00 price objective on the stock. in a research note on Thursday, April 11th. TheStreet upgraded Exelixis from a c+ rating to a b- rating in a research note on Monday, March 18th. Stifel Nicolaus increased their price objective on Exelixis from $23.00 to $25.00 and gave the company a hold rating in a research note on Friday, February 2nd. Finally, William Blair reiterated an outperform rating on shares of Exelixis in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $26.33.

Exelixis Stock Performance

EXEL opened at $21.93 on Wednesday. Exelixis has a one year low of $18.52 and a one year high of $24.34. The stock has a market capitalization of $6.46 billion, a PE ratio of 34.26, a P/E/G ratio of 0.62 and a beta of 0.54. The business’s 50 day moving average price is $22.92 and its 200 day moving average price is $22.22.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, April 30th. The biotechnology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.16). Exelixis had a net margin of 11.35% and a return on equity of 8.57%. The business had revenue of $425.23 million during the quarter, compared to analyst estimates of $461.04 million. During the same quarter in the prior year, the company posted $0.12 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts forecast that Exelixis will post 1.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director David Edward Johnson acquired 190,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were bought at an average price of $20.70 per share, with a total value of $3,933,000.00. Following the completion of the acquisition, the director now owns 1,100,730 shares in the company, valued at approximately $22,785,111. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director David Edward Johnson purchased 190,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were purchased at an average price of $20.70 per share, with a total value of $3,933,000.00. Following the completion of the acquisition, the director now directly owns 1,100,730 shares in the company, valued at approximately $22,785,111. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Alan M. Garber sold 19,205 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $24.01, for a total value of $461,112.05. Following the transaction, the director now directly owns 35,703 shares in the company, valued at approximately $857,229.03. The disclosure for this sale can be found here. Corporate insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

A number of hedge funds and other institutional investors have recently made changes to their positions in EXEL. Charles Schwab Investment Management Inc. lifted its position in Exelixis by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,364,480 shares of the biotechnology company’s stock valued at $80,714,000 after purchasing an additional 28,840 shares during the period. First Trust Advisors LP lifted its position in Exelixis by 18.5% in the fourth quarter. First Trust Advisors LP now owns 3,152,755 shares of the biotechnology company’s stock valued at $75,635,000 after purchasing an additional 492,613 shares during the period. Norges Bank acquired a new stake in Exelixis in the fourth quarter valued at about $73,449,000. FMR LLC lifted its position in Exelixis by 9.3% in the third quarter. FMR LLC now owns 2,884,424 shares of the biotechnology company’s stock valued at $63,025,000 after purchasing an additional 246,605 shares during the period. Finally, Los Angeles Capital Management LLC lifted its position in Exelixis by 948.3% in the first quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock valued at $58,240,000 after purchasing an additional 2,220,150 shares during the period. Hedge funds and other institutional investors 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.