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

Exelixis, Inc. (NASDAQ:EXEL) has been assigned a consensus rating of “Moderate Buy” from the sixteen brokerages that are covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $26.33.

EXEL has been the topic of a number of research reports. Stifel Nicolaus upped their price target on shares of Exelixis from $23.00 to $25.00 and gave the stock a “hold” rating in a research note on Friday, February 2nd. Barclays lowered Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 target price on the stock. in a research report on Thursday, April 11th. TheStreet upgraded Exelixis from a “c+” rating to a “b-” rating in a report on Monday, March 18th. TD Cowen increased their price objective on Exelixis from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, HC Wainwright reiterated a “buy” rating and issued a $28.00 target price on shares of Exelixis in a research note on Friday.

Insider Buying and Selling at Exelixis

In other Exelixis news, Director Alan M. Garber sold 19,205 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $24.01, for a total value of $461,112.05. Following the completion of the sale, the director now owns 35,703 shares in the company, valued at approximately $857,229.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Patrick J. Haley sold 47,020 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $21.45, for a total transaction of $1,008,579.00. Following the completion of the transaction, the executive vice president now owns 384,866 shares in the company, valued at approximately $8,255,375.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Alan M. Garber sold 19,205 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $24.01, for a total value of $461,112.05. Following the transaction, the director now owns 35,703 shares of the company’s stock, valued at approximately $857,229.03. The disclosure for this sale can be found here. Insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Fisher Asset Management LLC raised its position in Exelixis by 232.6% in the 4th quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 728 shares during the last quarter. Contravisory Investment Management Inc. bought a new position in Exelixis in the 4th quarter valued at $26,000. GAMMA Investing LLC bought a new position in Exelixis in the 4th quarter valued at $27,000. Rise Advisors LLC bought a new position in Exelixis in the 1st quarter valued at $28,000. Finally, Fifth Third Bancorp raised its position in Exelixis by 44.2% in the 3rd quarter. Fifth Third Bancorp now owns 1,970 shares of the biotechnology company’s stock valued at $43,000 after purchasing an additional 604 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Exelixis Trading Down 1.0 %

NASDAQ EXEL opened at $21.90 on Tuesday. The stock’s 50-day moving average price is $22.98 and its two-hundred day moving average price is $22.22. The company has a market cap of $6.38 billion, a PE ratio of 34.22, a PEG ratio of 0.57 and a beta of 0.57. Exelixis has a 1 year low of $18.52 and a 1 year high of $24.34.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.16). Exelixis had a net margin of 11.10% and a return on equity of 8.85%. The business had revenue of $425.23 million for the quarter, compared to analysts’ expectations of $461.04 million. During the same period last year, the firm earned $0.12 EPS. The company’s revenue was up 4.0% compared to the same quarter last year. Research analysts forecast that Exelixis will post 1.22 EPS for the current fiscal year.

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.