Exelixis (NASDAQ:EXEL) Given New $38.00 Price Target at Piper Sandler

Exelixis (NASDAQ:EXEL - Get Free Report) had its price target hoisted by equities research analysts at Piper Sandler from $37.00 to $38.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the biotechnology company's stock. Piper Sandler's price objective would indicate a potential upside of 8.57% from the company's current price.

Other research analysts have also recently issued research reports about the stock. UBS Group lifted their target price on shares of Exelixis from $30.00 to $34.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Oppenheimer cut shares of Exelixis from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $41.00 to $33.00 in a research note on Friday, January 24th. Stifel Nicolaus boosted their price target on shares of Exelixis from $26.00 to $30.00 and gave the stock a "hold" rating in a research note on Wednesday, October 16th. StockNews.com downgraded shares of Exelixis from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 11th. Finally, HC Wainwright reiterated a "buy" rating and set a $40.00 price target on shares of Exelixis in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.24.

Exelixis Stock Up 1.5 %

Shares of Exelixis stock traded up $0.51 during trading on Wednesday, reaching $35.00. 2,854,977 shares of the stock were exchanged, compared to its average volume of 2,601,778. The stock's fifty day moving average is $34.19 and its 200 day moving average is $30.88. The firm has a market cap of $10.00 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 0.63 and a beta of 0.53. Exelixis has a 1 year low of $20.14 and a 1 year high of $37.59.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a net margin of 22.43% and a return on equity of 20.99%. Equities analysts forecast that Exelixis will post 1.74 earnings per share for the current year.

Insider Activity

In related news, EVP Patrick J. Haley sold 10,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $35.27, for a total value of $352,700.00. Following the completion of the transaction, the executive vice president now directly owns 278,665 shares in the company, valued at approximately $9,828,514.55. This represents a 3.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the company's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the transaction, the executive vice president now owns 486,059 shares in the company, valued at $17,823,783.53. This trade represents a 10.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 111,588 shares of company stock worth $3,981,864 over the last ninety days. Corporate insiders own 2.85% of the company's stock.

Institutional Trading of Exelixis

Hedge funds have recently modified their holdings of the stock. Coppell Advisory Solutions LLC acquired a new stake in shares of Exelixis in the fourth quarter valued at $25,000. Principal Securities Inc. raised its stake in Exelixis by 62.8% in the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company's stock valued at $32,000 after buying an additional 373 shares in the last quarter. USA Financial Formulas acquired a new stake in Exelixis in the fourth quarter valued at $32,000. V Square Quantitative Management LLC acquired a new stake in Exelixis in the third quarter valued at $30,000. Finally, Kestra Investment Management LLC acquired a new stake in Exelixis in the fourth quarter valued at $39,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

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.