Exelixis, Inc. (NASDAQ:EXEL) Receives $37.59 Consensus Price Target from Analysts

Exelixis, Inc. (NASDAQ:EXEL) has been given a consensus rating of “Hold” by the nineteen research firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $37.59.

A number of analysts have issued reports on EXEL shares. HC Wainwright reissued a “buy” rating and issued a $40.00 price target on shares of Exelixis in a research note on Thursday, March 27th. JMP Securities reissued a “market outperform” rating and issued a $41.00 price target on shares of Exelixis in a research note on Thursday, April 17th. UBS Group reissued an “underperform” rating on shares of Exelixis in a research note on Thursday, April 17th. Stephens reaffirmed an “equal weight” rating and issued a $29.00 price objective on shares of Exelixis in a research note on Wednesday, February 12th. Finally, Royal Bank of Canada lifted their price objective on Exelixis from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, March 13th.

Exelixis Stock Performance

Shares of Exelixis stock opened at $36.98 on Friday. The company has a market cap of $10.19 billion, a P/E ratio of 20.89, a PEG ratio of 1.13 and a beta of 0.25. Exelixis has a one year low of $20.14 and a one year high of $40.26. The firm has a fifty day moving average of $36.83 and a two-hundred day moving average of $35.49.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. As a group, equities analysts predict that Exelixis will post 2.04 earnings per share for the current year.

Insider Activity at Exelixis

In related news, EVP Patrick J. Haley sold 52,636 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $36.98, for a total value of $1,946,479.28. Following the completion of the sale, the executive vice president now owns 303,310 shares of the company’s stock, valued at $11,216,403.80. This represents a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mary C. Beckerle sold 12,210 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $34.88, for a total transaction of $425,884.80. Following the completion of the sale, the director now directly owns 30,406 shares of the company’s stock, valued at $1,060,561.28. The trade was a 28.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 141,851 shares of company stock valued at $5,236,046 over the last ninety days. Corporate insiders own 2.82% of the company’s stock.

Institutional Investors Weigh In On Exelixis

A number of institutional investors and hedge funds have recently bought and sold shares of EXEL. Nuveen LLC purchased a new stake in Exelixis during the first quarter valued at about $123,310,000. Invesco Ltd. boosted its stake in Exelixis by 308.1% during the fourth quarter. Invesco Ltd. now owns 3,975,241 shares of the biotechnology company’s stock worth $132,376,000 after buying an additional 3,001,204 shares in the last quarter. Norges Bank bought a new position in shares of Exelixis during the fourth quarter valued at $94,867,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Exelixis by 330.4% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,484,395 shares of the biotechnology company’s stock valued at $82,730,000 after buying an additional 1,907,167 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Exelixis by 104.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,159,395 shares of the biotechnology company’s stock worth $105,208,000 after purchasing an additional 1,613,482 shares during the last quarter. 85.27% of the stock is 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.