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

Exelixis (NASDAQ:EXEL - Get Free Report) had its target price lifted by research analysts at HC Wainwright from $29.00 to $40.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the biotechnology company's stock. HC Wainwright's price objective would suggest a potential upside of 11.05% from the stock's previous close.

Several other research firms have also issued reports on EXEL. Bank of America lowered 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 report on Tuesday, December 17th. UBS Group began coverage on Exelixis in a research note on Thursday, September 19th. They set a "neutral" rating and a $30.00 price objective on the stock. Wells Fargo & Company raised their target price on shares of Exelixis from $32.00 to $36.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. The Goldman Sachs Group raised shares of Exelixis to a "strong sell" rating in a research report on Tuesday, October 15th. Finally, Truist Financial increased their price target on shares of Exelixis from $33.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $33.69.

Exelixis Price Performance

Shares of EXEL traded up $1.52 during mid-day trading on Friday, hitting $36.02. 3,120,368 shares of the company's stock were exchanged, compared to its average volume of 2,051,276. Exelixis has a 52 week low of $20.01 and a 52 week high of $36.97. The company has a market cap of $10.29 billion, a PE ratio of 23.09, a P/E/G ratio of 0.88 and a beta of 0.53. The company has a 50-day simple moving average of $34.84 and a 200 day simple moving average of $28.71.

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

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Jeffrey Hessekiel sold 60,000 shares of the firm's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $36.67, for a total transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George Poste sold 30,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $34.00, for a total value of $1,020,000.00. Following the sale, the director now directly owns 169,020 shares in the company, valued at approximately $5,746,680. This trade represents a 15.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 314,736 shares of company stock valued at $10,849,110 in the last ninety days. 2.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Exelixis

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hsbc Holdings PLC raised its position in shares of Exelixis by 45.3% in the 2nd quarter. Hsbc Holdings PLC now owns 90,211 shares of the biotechnology company's stock valued at $2,031,000 after buying an additional 28,126 shares in the last quarter. Farallon Capital Management LLC boosted its holdings in shares of Exelixis by 1.6% in the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company's stock valued at $608,993,000 after purchasing an additional 424,000 shares in the last quarter. Seizert Capital Partners LLC increased its stake in shares of Exelixis by 8.0% in the 3rd quarter. Seizert Capital Partners LLC now owns 469,940 shares of the biotechnology company's stock valued at $12,195,000 after purchasing an additional 34,875 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of Exelixis by 124.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company's stock worth $46,473,000 after buying an additional 991,494 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of Exelixis by 60.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 54,863 shares of the biotechnology company's stock worth $1,424,000 after buying an additional 20,641 shares during the last quarter. Institutional investors own 85.27% of the company's stock.

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.