Exelixis (NASDAQ:EXEL – Free Report) had its price target lifted by Truist Financial from $42.00 to $43.00 in a research note released on Monday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.
Other equities analysts have also issued reports about the company. Wells Fargo & Company boosted their target price on Exelixis from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. TD Cowen boosted their price objective on shares of Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a report on Monday, October 21st. Stifel Nicolaus increased their target price on shares of Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Morgan Stanley raised shares of Exelixis from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $30.00 to $40.00 in a report on Monday. Finally, Stephens reaffirmed an “equal weight” rating and set a $29.00 price objective on shares of Exelixis in a research note on Monday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.81.
Check Out Our Latest Analysis on Exelixis
Exelixis Stock Performance
Exelixis (NASDAQ:EXEL – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. The business had revenue of $539.50 million for the quarter, compared to analyst estimates of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The firm’s revenue was up 14.3% on a year-over-year basis. During the same period last year, the company earned $0.10 EPS. As a group, sell-side analysts predict that Exelixis will post 1.74 earnings per share for the current fiscal year.
Insider Transactions at Exelixis
In other news, EVP Dana Aftab sold 1,162 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total transaction of $36,486.80. Following the completion of the transaction, the executive vice president now directly owns 498,945 shares in the company, valued at $15,666,873. This represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Patrick J. Haley sold 10,000 shares of Exelixis stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $35.27, for a total value of $352,700.00. Following the completion of the sale, the executive vice president now directly owns 278,665 shares in the company, valued at approximately $9,828,514.55. This represents a 3.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 289,736 shares of company stock valued at $10,139,360 in the last ninety days. 2.85% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Exelixis
Several large investors have recently made changes to their positions in the stock. Paragon Capital Management Inc. bought a new stake in Exelixis during the fourth quarter worth $1,642,000. Longboard Asset Management LP acquired a new position in shares of Exelixis during the 4th quarter worth about $245,000. Spire Wealth Management raised its holdings in shares of Exelixis by 49.9% in the 4th quarter. Spire Wealth Management now owns 9,010 shares of the biotechnology company’s stock valued at $300,000 after purchasing an additional 3,000 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in Exelixis by 10.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 60,553 shares of the biotechnology company’s stock valued at $2,016,000 after purchasing an additional 5,690 shares during the last quarter. Finally, Chicago Partners Investment Group LLC bought a new position in Exelixis during the fourth quarter worth about $247,000. Institutional investors and hedge funds own 85.27% of the company’s stock.
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.
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