Brokerages Set Exelixis, Inc. (NASDAQ:EXEL) Target Price at $26.29

Shares of Exelixis, Inc. (NASDAQ:EXEL) have earned an average rating of “Moderate Buy” from the fifteen analysts that are currently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $26.29.

A number of analysts recently weighed in on EXEL shares. JMP Securities reaffirmed a “market outperform” rating and set a $27.00 target price on shares of Exelixis in a report on Thursday, December 14th. William Blair reiterated an “outperform” rating on shares of Exelixis in a research report on Friday, January 26th. Stifel Nicolaus boosted their target price on Exelixis from $23.00 to $25.00 and gave the stock a “hold” rating in a research report on Friday, February 2nd. Barclays raised their price target on Exelixis from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Tuesday, January 30th. Finally, TheStreet upgraded Exelixis from a “c+” rating to a “b-” rating in a research report on Monday, March 18th.

Exelixis Price Performance

Exelixis stock opened at $23.72 on Friday. The firm has a market capitalization of $7.19 billion, a P/E ratio of 37.06, a PEG ratio of 0.61 and a beta of 0.54. Exelixis has a one year low of $18.08 and a one year high of $24.34. The business has a fifty day moving average price of $22.22 and a 200-day moving average price of $22.09.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, February 6th. The biotechnology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.25 by $0.02. Exelixis had a return on equity of 8.57% and a net margin of 11.35%. The business had revenue of $479.65 million during the quarter, compared to the consensus estimate of $481.23 million. Sell-side analysts expect that Exelixis will post 1.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director David Edward Johnson bought 190,000 shares of the stock in a transaction dated Wednesday, February 21st. The stock was bought at an average price of $20.70 per share, with a total value of $3,933,000.00. Following the purchase, the director now owns 1,100,730 shares in the company, valued at approximately $22,785,111. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Exelixis news, Director Alan M. Garber sold 19,205 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $24.01, for a total value of $461,112.05. Following the sale, the director now owns 35,703 shares of the company’s stock, valued at approximately $857,229.03. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David Edward Johnson acquired 190,000 shares of the stock in a transaction dated Wednesday, February 21st. The shares were purchased at an average cost of $20.70 per share, with a total value of $3,933,000.00. Following the completion of the purchase, the director now owns 1,100,730 shares of the company’s stock, valued at approximately $22,785,111. The disclosure for this purchase can be found here. 2.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Fisher Asset Management LLC lifted its stake in Exelixis by 232.6% in the fourth quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 728 shares during the period. Contravisory Investment Management Inc. purchased a new stake in shares of Exelixis in the 4th quarter worth about $26,000. GAMMA Investing LLC bought a new stake in shares of Exelixis during the 4th quarter valued at about $27,000. Rise Advisors LLC purchased a new position in shares of Exelixis during the first quarter valued at about $28,000. Finally, Denali Advisors LLC lifted its holdings in Exelixis by 7,995.2% in the third quarter. Denali Advisors LLC now owns 1,700 shares of the biotechnology company’s stock worth $37,000 after buying an additional 1,679 shares during the period. 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.