Exelixis, Inc. (NASDAQ:EXEL) Receives $29.57 Average PT from Brokerages

Exelixis, Inc. (NASDAQ:EXEL - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the sixteen ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $29.57.

Several research analysts have recently weighed in on the stock. Morgan Stanley lifted their price target 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. HC Wainwright reissued a "buy" rating and set a $29.00 price target on shares of Exelixis in a report on Wednesday, September 18th. JMP Securities reaffirmed a "market outperform" rating and issued a $29.00 price objective on shares of Exelixis in a research note on Friday, October 11th. Stifel Nicolaus boosted their price objective on Exelixis from $26.00 to $30.00 and gave the company a "hold" rating in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada increased their target price on shares of Exelixis from $30.00 to $34.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th.

Exelixis Stock Performance

Shares of EXEL traded up $0.17 on Tuesday, hitting $28.83. 1,709,209 shares of the stock traded hands, compared to its average volume of 2,033,252. The company has a market capitalization of $8.74 billion, a PE ratio of 45.05, a P/E/G ratio of 0.54 and a beta of 0.54. Exelixis has a one year low of $18.64 and a one year high of $29.75. The business has a 50 day simple moving average of $26.46 and a 200 day simple moving average of $23.87.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.44. Exelixis had a net margin of 17.38% and a return on equity of 15.54%. The firm had revenue of $637.18 million during the quarter, compared to analyst estimates of $468.21 million. On average, equities analysts expect that Exelixis will post 1.59 earnings per share for the current year.

Insider Transactions at Exelixis

In other news, EVP Jeffrey Hessekiel sold 25,000 shares of the company's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $26.38, for a total value of $659,500.00. Following the transaction, the executive vice president now directly owns 605,325 shares in the company, valued at approximately $15,968,473.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Christopher J. Senner sold 125,000 shares of Exelixis stock in a transaction on 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 transaction, the chief financial officer now directly owns 721,680 shares in the company, valued at approximately $19,622,479.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jeffrey Hessekiel sold 25,000 shares of the company's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $26.38, for a total value of $659,500.00. Following the sale, the executive vice president now owns 605,325 shares of the company's stock, valued at $15,968,473.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 327,858 shares of company stock worth $8,640,129. 2.85% of the stock is currently owned by insiders.

Institutional Trading of Exelixis

Hedge funds and other institutional investors have recently made changes to their positions in the business. Farallon Capital Management LLC grew its position in 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 purchasing an additional 424,000 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Exelixis by 0.4% in the 2nd quarter. Renaissance Technologies LLC now owns 15,163,066 shares of the biotechnology company's stock valued at $340,714,000 after acquiring an additional 61,350 shares during the period. LSV Asset Management raised its stake in Exelixis by 107.7% in the 2nd quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company's stock worth $129,511,000 after acquiring an additional 2,989,021 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in 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 acquiring an additional 349,837 shares during the period. Finally, AQR Capital Management LLC grew its stake in Exelixis by 12.7% during 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 purchasing an additional 370,199 shares during the last quarter. Hedge funds and other 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.