Stifel Nicolaus Raises Exelixis (NASDAQ:EXEL) Price Target to $38.00

Exelixis (NASDAQ:EXEL) had its price objective raised by Stifel Nicolaus from $36.00 to $38.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the biotechnology company’s stock. Stifel Nicolaus’ target price suggests a potential downside of 17.86% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Stephens restated an “equal weight” rating and set a $29.00 target price on shares of Exelixis in a report on Wednesday, February 12th. Truist Financial upped their price target on shares of Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Morgan Stanley restated an “overweight” rating and set a $47.00 target price (up previously from $40.00) on shares of Exelixis in a research note on Wednesday. JMP Securities restated a “market outperform” rating and set a $41.00 target price on shares of Exelixis in a research note on Thursday, April 17th. Finally, Wells Fargo & Company reaffirmed a “market outperform” rating on shares of Exelixis in a research report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Exelixis has an average rating of “Moderate Buy” and a consensus target price of $38.76.

Exelixis Trading Up 3.6%

Shares of Exelixis stock opened at $46.26 on Wednesday. Exelixis has a 12-month low of $20.14 and a 12-month high of $48.85. The company has a market cap of $12.75 billion, a P/E ratio of 26.14, a PEG ratio of 1.13 and a beta of 0.25. The company’s fifty day simple moving average is $37.06 and its two-hundred day simple moving average is $35.68.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. Analysts predict that Exelixis will post 2.04 EPS for the current fiscal year.

Insider Activity

In related news, EVP Dana Aftab sold 1,508 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $39.00, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Patrick J. Haley sold 10,000 shares of Exelixis stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $38.80, for a total value of $388,000.00. Following the sale, the executive vice president now owns 341,028 shares of the company’s stock, valued at approximately $13,231,886.40. This trade represents a 2.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 129,641 shares of company stock worth $4,810,161. 2.82% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Exelixis

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its holdings in shares of Exelixis by 134.7% in the fourth quarter. Blue Trust Inc. now owns 14,302 shares of the biotechnology company’s stock valued at $476,000 after acquiring an additional 8,208 shares in the last quarter. Raymond James Financial Inc. bought a new position in Exelixis in the fourth quarter worth about $17,046,000. Allspring Global Investments Holdings LLC raised its holdings in Exelixis by 82.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company’s stock worth $52,884,000 after purchasing an additional 704,786 shares in the last quarter. Inspire Investing LLC raised its holdings in Exelixis by 25.0% in the fourth quarter. Inspire Investing LLC now owns 36,659 shares of the biotechnology company’s stock worth $1,221,000 after purchasing an additional 7,331 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Exelixis by 4.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 505,289 shares of the biotechnology company’s stock worth $16,826,000 after purchasing an additional 22,225 shares in the last quarter. 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.