TD Cowen Boosts Exelixis (NASDAQ:EXEL) Price Target to $34.00

Exelixis (NASDAQ:EXEL) had its price objective boosted by TD Cowen from $27.00 to $34.00 in a research note released on Monday morning, Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock.

A number of other research firms have also weighed in on EXEL. Morgan Stanley boosted their price objective on shares of Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. UBS Group started coverage on Exelixis in a research note on Thursday, September 19th. They set a “neutral” rating and a $30.00 price target on the stock. Oppenheimer reiterated an “outperform” rating and issued a $29.00 target price on shares of Exelixis in a research note on Tuesday, July 30th. Truist Financial reissued a “buy” rating and issued a $33.00 price target (up from $32.00) on shares of Exelixis in a research note on Thursday, August 8th. Finally, StockNews.com raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.57.

Exelixis Stock Performance

EXEL stock opened at $28.32 on Monday. The stock’s 50 day moving average price is $26.50 and its 200 day moving average price is $23.91. The firm has a market cap of $8.59 billion, a P/E ratio of 45.05, a PEG ratio of 0.54 and a beta of 0.54. Exelixis has a 1 year low of $19.12 and a 1 year high of $29.75.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.44. The business had revenue of $637.18 million for the quarter, compared to the consensus estimate of $468.21 million. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. On average, research analysts predict that Exelixis will post 1.59 earnings per share for the current year.

Insider Buying and Selling

In other Exelixis news, CFO Christopher J. Senner sold 125,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $27.19, for a total transaction of $3,398,750.00. Following the transaction, the chief financial officer now owns 721,680 shares in the company, valued at $19,622,479.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Dana Aftab sold 95,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $25.00, for a total transaction of $2,375,000.00. Following the completion of the sale, the executive vice president now directly owns 520,990 shares of the company’s stock, valued at approximately $13,024,750. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher J. Senner sold 125,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $27.19, for a total transaction of $3,398,750.00. Following the completion of the transaction, the chief financial officer now owns 721,680 shares in the company, valued at $19,622,479.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 327,858 shares of company stock valued at $8,640,129. Company insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

A number of hedge funds and other institutional investors have recently modified their holdings of the business. LSV Asset Management grew its stake in Exelixis by 1,651.4% during the 1st quarter. LSV Asset Management now owns 2,774,707 shares of the biotechnology company’s stock valued at $65,844,000 after purchasing an additional 2,616,278 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Exelixis by 45.3% during the second quarter. Hsbc Holdings PLC now owns 90,211 shares of the biotechnology company’s stock worth $2,031,000 after buying an additional 28,126 shares in the last quarter. Farallon Capital Management LLC increased its stake in shares of Exelixis by 1.6% in the second quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock worth $608,993,000 after buying an additional 424,000 shares during the last quarter. Intech Investment Management LLC raised its holdings in Exelixis by 155.8% in the first quarter. Intech Investment Management LLC now owns 100,039 shares of the biotechnology company’s stock valued at $2,374,000 after acquiring an additional 60,925 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in Exelixis during the 1st quarter valued at $1,281,000. 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.