Exelixis (NASDAQ:EXEL) Stock Price Expected to Rise, Citigroup Analyst Says

Exelixis (NASDAQ:EXEL - Free Report) had its price target increased by Citigroup from $38.00 to $45.00 in a research report sent to investors on Wednesday,Benzinga reports. Citigroup currently has a buy rating on the biotechnology company's stock.

A number of other research analysts also recently issued reports on EXEL. StockNews.com lowered Exelixis from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 11th. Oppenheimer downgraded shares of Exelixis from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $41.00 to $33.00 in a report on Friday, January 24th. UBS Group raised their price target on shares of Exelixis from $30.00 to $34.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Truist Financial upped their price objective on shares of Exelixis from $42.00 to $43.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Finally, BMO Capital Markets lowered Exelixis from an "outperform" rating to a "market perform" rating and lifted their price target for the company from $36.00 to $40.00 in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Exelixis has a consensus rating of "Moderate Buy" and an average price target of $37.24.

Exelixis Stock Up 1.5 %

Shares of NASDAQ:EXEL traded up $0.51 during trading on Wednesday, hitting $35.00. The stock had a trading volume of 2,854,977 shares, compared to its average volume of 2,601,778. Exelixis has a 12-month low of $20.14 and a 12-month high of $37.59. The stock has a market capitalization 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. The stock has a 50-day simple moving average of $34.19 and a two-hundred day simple moving average of $30.88.

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

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 10,000 shares of the company's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $35.27, for a total transaction of $352,700.00. Following the transaction, the executive vice president now directly owns 278,665 shares in the company, valued at $9,828,514.55. This represents a 3.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey Hessekiel sold 60,000 shares of Exelixis stock in a transaction on Friday, November 29th. The shares were sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the sale, the executive vice president now directly owns 486,059 shares of the company's stock, valued at $17,823,783.53. The trade was a 10.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 111,588 shares of company stock valued at $3,981,864 over the last 90 days. 2.85% of the stock is owned by insiders.

Hedge Funds Weigh In On Exelixis

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Exelixis by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 29,429,252 shares of the biotechnology company's stock valued at $979,994,000 after purchasing an additional 121,750 shares during the period. LSV Asset Management boosted its position in Exelixis by 0.8% in the 4th quarter. LSV Asset Management now owns 8,169,847 shares of the biotechnology company's stock valued at $272,056,000 after buying an additional 67,470 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in shares of Exelixis by 10.2% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 7,630,940 shares of the biotechnology company's stock worth $254,110,000 after acquiring an additional 708,312 shares in the last quarter. Invesco Ltd. grew its stake in shares of Exelixis by 308.1% in the fourth quarter. Invesco Ltd. now owns 3,975,241 shares of the biotechnology company's stock worth $132,376,000 after acquiring an additional 3,001,204 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Exelixis by 25.7% in the fourth quarter. AQR Capital Management LLC now owns 3,967,005 shares of the biotechnology company's stock valued at $132,101,000 after acquiring an additional 810,857 shares in the last quarter. 85.27% of the stock is currently 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.