Exelixis, Inc. (NASDAQ:EXEL) Receives $31.44 Consensus Target Price from Analysts

Exelixis, Inc. (NASDAQ:EXEL - Get Free Report) has been given an average rating of "Moderate Buy" by the twenty research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $31.44.

A number of equities analysts have recently weighed in on the company. Guggenheim upped their target price on Exelixis from $32.00 to $33.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. UBS Group initiated coverage on shares of Exelixis in a research note on Thursday, September 19th. They issued a "neutral" rating and a $30.00 price objective on the stock. TD Cowen lifted their target price on shares of Exelixis from $27.00 to $34.00 and gave the company a "buy" rating in a research note on Monday, October 21st. Piper Sandler upped their price target on shares of Exelixis from $33.00 to $36.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company lifted their price objective on Exelixis from $32.00 to $36.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th.

Insider Transactions at Exelixis

In related news, EVP Jeffrey Hessekiel sold 25,000 shares of the business's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $26.38, for a total transaction of $659,500.00. Following the transaction, the executive vice president now owns 605,325 shares of the company's stock, valued at approximately $15,968,473.50. The trade was a 3.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Dana Aftab sold 96,986 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $35.00, for a total transaction of $3,394,510.00. Following the completion of the sale, the executive vice president now directly owns 498,945 shares of the company's stock, valued at approximately $17,463,075. This trade represents a 16.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 248,148 shares of company stock worth $8,042,547. Company insiders own 2.85% of the company's stock.

Institutional Trading of Exelixis

Several institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in Exelixis in the third quarter worth about $30,000. Brooklyn Investment Group bought a new position in shares of Exelixis during the 3rd quarter worth approximately $42,000. Park Place Capital Corp bought a new position in shares of Exelixis during the 2nd quarter worth approximately $45,000. GAMMA Investing LLC boosted its stake in Exelixis by 107.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company's stock valued at $45,000 after buying an additional 1,041 shares in the last quarter. Finally, EntryPoint Capital LLC grew its position in Exelixis by 537.2% in the first quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company's stock valued at $49,000 after acquiring an additional 1,746 shares during the period. Institutional investors and hedge funds own 85.27% of the company's stock.

Exelixis Stock Performance

Shares of NASDAQ:EXEL traded down $0.60 during mid-day trading on Friday, hitting $34.45. The stock had a trading volume of 2,867,787 shares, compared to its average volume of 2,082,104. The company's 50 day moving average is $29.04 and its 200-day moving average is $25.15. Exelixis has a 12-month low of $19.20 and a 12-month high of $36.60. The company has a market cap of $9.84 billion, a PE ratio of 22.08, a P/E/G ratio of 0.89 and a beta of 0.51.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.04. The company had revenue of $539.50 million during the quarter, compared to analyst estimates of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The company's revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 earnings per share. On average, equities research analysts predict that Exelixis will post 1.68 EPS for the current fiscal year.

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.