Exelixis, Inc. (NASDAQ:EXEL) Receives $32.18 Average Price Target from Analysts

Exelixis, Inc. (NASDAQ:EXEL) has been given a consensus rating of “Buy” by the thirteen research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $32.18.

EXEL has been the topic of several analyst reports. Zacks Investment Research cut shares of Exelixis from a “buy” rating to a “sell” rating and set a $23.00 price target on the stock. in a research note on Monday, November 8th. Jefferies Financial Group initiated coverage on shares of Exelixis in a research note on Wednesday, October 6th. They set a “buy” rating and a $28.00 price target on the stock. TheStreet lowered shares of Exelixis from a “b-” rating to a “c” rating in a report on Thursday, November 4th. Royal Bank of Canada cut their price objective on shares of Exelixis from $32.00 to $31.00 and set an “outperform” rating on the stock in a report on Wednesday, November 3rd. Finally, HC Wainwright cut their price target on shares of Exelixis from $65.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, November 3rd.

In related news, Director Carl B. Feldbaum sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 19th. The stock was sold at an average price of $17.62, for a total value of $352,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey Hessekiel sold 5,117 shares of the business’s stock in a transaction that occurred on Monday, November 1st. The stock was sold at an average price of $22.03, for a total value of $112,727.51. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 137,353 shares of company stock worth $2,450,124. Company insiders own 3.30% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in shares of Exelixis by 2.0% during the third quarter. BlackRock Inc. now owns 31,907,047 shares of the biotechnology company’s stock worth $674,514,000 after buying an additional 612,104 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Exelixis by 1.9% during the second quarter. Vanguard Group Inc. now owns 29,944,880 shares of the biotechnology company’s stock worth $545,596,000 after buying an additional 544,702 shares during the last quarter. FMR LLC lifted its holdings in shares of Exelixis by 32.6% during the second quarter. FMR LLC now owns 20,101,588 shares of the biotechnology company’s stock worth $366,251,000 after buying an additional 4,943,980 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Exelixis by 24.4% during the second quarter. JPMorgan Chase & Co. now owns 14,133,144 shares of the biotechnology company’s stock worth $257,507,000 after buying an additional 2,770,928 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Exelixis by 5.7% during the second quarter. State Street Corp now owns 9,771,581 shares of the biotechnology company’s stock worth $178,038,000 after buying an additional 531,118 shares during the last quarter. Hedge funds and other institutional investors own 82.96% of the company’s stock.

Shares of NASDAQ EXEL opened at $18.12 on Wednesday. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 35.53, a PEG ratio of 0.56 and a beta of 0.89. Exelixis has a 52 week low of $15.50 and a 52 week high of $25.77. The company’s 50-day moving average price is $17.86 and its 200 day moving average price is $18.80.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, November 2nd. The biotechnology company reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.07). The business had revenue of $328.42 million during the quarter, compared to analyst estimates of $366.34 million. Exelixis had a net margin of 13.10% and a return on equity of 8.27%. During the same period in the previous year, the company posted ($0.10) earnings per share. On average, analysts predict that Exelixis will post 0.5 earnings per share for the current year.

Exelixis Company Profile

Exelixis, Inc is a biopharmaceutical company, which engages in the development, commercialization, and discovery of new medicines for the treatment of cancer. It offers products under the brands of COMETRIQ, CABOMETYX, COTELLIC, and MINNEBRO. The company was founded by Corey S. Goodman and Stelios B.

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Analyst Recommendations for Exelixis (NASDAQ:EXEL)

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