Exelixis (NASDAQ:EXEL) Price Target Increased to $27.00 by Analysts at TD Cowen

Exelixis (NASDAQ:EXEL) had its price objective boosted by TD Cowen from $25.00 to $27.00 in a report released on Wednesday, Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock.

Other equities research analysts also recently issued research reports about the stock. Barclays downgraded shares of Exelixis from an overweight rating to an equal weight rating and set a $25.00 price objective for the company. in a research report on Thursday, April 11th. JMP Securities reiterated a market outperform rating and set a $27.00 price objective on shares of Exelixis in a report on Wednesday, April 10th. TheStreet upgraded Exelixis from a c+ rating to a b- rating in a research note on Monday, March 18th. Stifel Nicolaus raised 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. Finally, Royal Bank of Canada boosted their price objective on shares of Exelixis from $26.00 to $28.00 and gave the stock an outperform rating in a research report on Wednesday, February 7th. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $26.33.

Exelixis Trading Down 1.0 %

EXEL stock opened at $21.90 on Wednesday. Exelixis has a 1-year low of $18.52 and a 1-year high of $24.34. The firm has a market cap of $6.38 billion, a PE ratio of 34.22, a P/E/G ratio of 0.56 and a beta of 0.57. The business’s 50-day moving average price is $22.98 and its two-hundred day moving average price is $22.23.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data 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 the consensus estimate of $461.04 million. During the same quarter last year, the firm earned $0.12 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, analysts forecast that Exelixis will post 1.17 earnings per share for the current year.

Insiders Place Their Bets

In other Exelixis news, Director David Edward Johnson bought 190,000 shares of Exelixis stock in a transaction dated Wednesday, February 21st. The stock was bought at an average cost of $20.70 per share, for a total transaction of $3,933,000.00. Following the purchase, the director now owns 1,100,730 shares of the company’s stock, valued at approximately $22,785,111. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director David Edward Johnson purchased 190,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were acquired at an average price of $20.70 per share, for a total transaction of $3,933,000.00. Following the purchase, the director now owns 1,100,730 shares in the company, valued at $22,785,111. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the executive vice president now owns 384,866 shares of the company’s stock, valued at $8,255,375.70. The disclosure for this sale can be found here. Company insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Institutional investors and hedge funds have recently modified their holdings of the business. Fisher Asset Management LLC raised its position in shares of Exelixis by 232.6% in the fourth quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 728 shares in the last quarter. Contravisory Investment Management Inc. acquired a new position in Exelixis in the fourth quarter valued at about $26,000. GAMMA Investing LLC bought a new stake in Exelixis during the fourth quarter worth about $27,000. Rise Advisors LLC acquired a new stake in Exelixis during the first quarter worth about $28,000. Finally, Fifth Third Bancorp increased its holdings 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 buying an additional 604 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

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.