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

Exelixis (NASDAQ:EXEL - Free Report) had its target price boosted by JMP Securities from $34.00 to $41.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a market outperform rating on the biotechnology company's stock.

Several other research analysts have also issued reports on EXEL. BMO Capital Markets lowered shares of Exelixis from an "outperform" rating to a "market perform" rating and upped their target price for the stock from $36.00 to $40.00 in a research report on Friday, December 20th. Stifel Nicolaus upped their target price on shares of Exelixis from $26.00 to $30.00 and gave the stock a "hold" rating in a research report on Wednesday, October 16th. Bank of America lowered shares of Exelixis from a "buy" rating to a "neutral" rating and upped their target price for the stock from $35.00 to $39.00 in a research report on Tuesday, December 17th. Truist Financial boosted their price target on shares of Exelixis from $33.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group raised shares of Exelixis to a "strong sell" rating in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.75.

Exelixis Trading Up 4.5 %

Shares of EXEL traded up $1.62 during mid-day trading on Wednesday, reaching $37.27. 4,923,204 shares of the stock traded hands, compared to its average volume of 2,424,554. The firm has a fifty day moving average price of $34.92 and a 200 day moving average price of $29.08. The company has a market cap of $10.64 billion, a price-to-earnings ratio of 23.89, a price-to-earnings-growth ratio of 0.88 and a beta of 0.53. Exelixis has a 1 year low of $20.01 and a 1 year high of $37.31.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The company had revenue of $539.50 million during the quarter, compared to analyst estimates of $490.31 million. During the same period in the previous year, the business earned $0.10 earnings per share. The firm's quarterly revenue was up 14.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Exelixis will post 1.69 EPS for the current year.

Insider Activity

In related news, Director George Poste sold 30,000 shares of the business's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $34.00, for a total transaction of $1,020,000.00. Following the transaction, the director now owns 169,020 shares in the company, valued at $5,746,680. The trade was a 15.07 % 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 Jeffrey Hessekiel sold 25,000 shares of the business's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $28.39, for a total transaction of $709,750.00. Following the transaction, the executive vice president now owns 580,325 shares in the company, valued at $16,475,426.75. This represents a 4.13 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 314,736 shares of company stock valued at $10,849,110. Insiders own 2.85% of the company's stock.

Hedge Funds Weigh In On Exelixis

Hedge funds and other institutional investors have recently modified their holdings of the stock. V Square Quantitative Management LLC purchased a new stake in Exelixis in the third quarter worth about $30,000. USA Financial Formulas purchased a new stake in Exelixis in the fourth quarter worth about $32,000. Brooklyn Investment Group purchased a new stake in Exelixis in the third quarter worth about $42,000. Capital Performance Advisors LLP purchased a new stake in Exelixis in the third quarter worth about $61,000. Finally, Essex Investment Management Co. LLC purchased a new stake in Exelixis in the third quarter worth about $74,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Exelixis Company Profile

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.