Exelixis (NASDAQ:EXEL) Sets New 12-Month High After Analyst Upgrade

Exelixis, Inc. (NASDAQ:EXEL - Get Free Report) hit a new 52-week high during trading on Wednesday after Stephens raised their price target on the stock from $23.00 to $29.00. Stephens currently has an equal weight rating on the stock. Exelixis traded as high as $31.20 and last traded at $31.20, with a volume of 19800 shares. The stock had previously closed at $28.73.

Several other brokerages have also recently weighed in on EXEL. Bank of America boosted their target price on Exelixis from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. Truist Financial lifted their price target on Exelixis from $33.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday. Morgan Stanley lifted their target price on shares of Exelixis from $26.00 to $28.00 and gave the stock an "equal weight" rating in a research note on Friday, October 11th. The Goldman Sachs Group upgraded shares of Exelixis to a "strong sell" rating in a report on Tuesday, October 15th. Finally, StockNews.com upgraded Exelixis from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $31.44.

Insider Activity at Exelixis

In other Exelixis news, CFO Christopher J. Senner sold 125,000 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $27.19, for a total value of $3,398,750.00. Following the sale, the chief financial officer now owns 721,680 shares of the company's stock, valued at $19,622,479.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Jeffrey Hessekiel sold 25,000 shares of Exelixis 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 completion of the sale, the executive vice president now directly owns 605,325 shares of the company's stock, valued at approximately $15,968,473.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher J. Senner sold 125,000 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $27.19, for a total value of $3,398,750.00. Following the completion of the transaction, the chief financial officer now directly owns 721,680 shares in the company, valued at $19,622,479.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 327,858 shares of company stock worth $8,640,129. Company insiders own 2.85% of the company's stock.

Institutional Trading of Exelixis

A number of institutional investors have recently bought and sold shares of the business. Farallon Capital Management LLC raised its position in shares of Exelixis by 1.6% during the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company's stock worth $608,993,000 after acquiring an additional 424,000 shares in the last quarter. Renaissance Technologies LLC increased its stake in Exelixis by 0.4% in the second quarter. Renaissance Technologies LLC now owns 15,163,066 shares of the biotechnology company's stock valued at $340,714,000 after purchasing an additional 61,350 shares during the last quarter. LSV Asset Management raised its holdings in Exelixis by 107.7% during the second quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company's stock worth $129,511,000 after purchasing an additional 2,989,021 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Exelixis by 7.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,137,201 shares of the biotechnology company's stock worth $115,434,000 after buying an additional 349,837 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Exelixis by 12.7% in the 2nd quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company's stock valued at $73,425,000 after buying an additional 370,199 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Stock Performance

The stock's 50-day moving average is $26.69 and its 200 day moving average is $24.09. The stock has a market capitalization of $9.25 billion, a PE ratio of 28.31, a P/E/G ratio of 0.61 and a beta of 0.54.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.44. Exelixis had a net margin of 17.38% and a return on equity of 15.54%. The company had revenue of $637.18 million during the quarter, compared to the consensus estimate of $468.21 million. Analysts expect that Exelixis, Inc. will post 1.58 earnings per share for the current year.

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.