Exelixis (NASDAQ:EXEL) Stock Price Expected to Rise, Citigroup Analyst Says

Exelixis (NASDAQ:EXEL) had its price objective increased by Citigroup from $45.00 to $56.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock.

Other equities research analysts have also issued research reports about the stock. Oppenheimer lowered shares of Exelixis from an “outperform” rating to a “market perform” rating and cut their target price for the company from $41.00 to $33.00 in a research note on Friday, January 24th. JMP Securities restated a “market outperform” rating and issued a $41.00 target price on shares of Exelixis in a research note on Thursday, April 17th. Morgan Stanley restated an “overweight” rating and issued a $47.00 target price (up previously from $40.00) on shares of Exelixis in a research note on Wednesday. Stifel Nicolaus upped their target price on shares of Exelixis from $36.00 to $38.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Barclays upped their target price on shares of Exelixis from $25.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.76.

Exelixis Stock Performance

Shares of Exelixis stock opened at $45.40 on Thursday. The firm has a market cap of $12.51 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 1.13 and a beta of 0.25. The firm’s 50-day simple moving average is $37.23 and its 200-day simple moving average is $35.82. Exelixis has a 1 year low of $20.14 and a 1 year high of $48.85.

Insiders Place Their Bets

In other Exelixis news, CFO Christopher J. Senner sold 29,314 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $36.14, for a total value of $1,059,407.96. Following the completion of the transaction, the chief financial officer now owns 779,607 shares in the company, valued at approximately $28,174,996.98. This represents a 3.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Patrick J. Haley sold 126,383 shares of the company’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $47.96, for a total transaction of $6,061,328.68. Following the completion of the transaction, the executive vice president now owns 446,459 shares of the company’s stock, valued at approximately $21,412,173.64. This trade represents a 22.06% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 520,942 shares of company stock worth $22,930,002. Insiders own 2.82% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of EXEL. Park Avenue Securities LLC bought a new position in Exelixis in the 4th quarter worth about $221,000. USA Financial Formulas acquired a new stake in shares of Exelixis in the 4th quarter worth approximately $32,000. Tallon Kerry Patrick acquired a new stake in shares of Exelixis in the 4th quarter worth approximately $2,619,000. Merit Financial Group LLC acquired a new stake in shares of Exelixis in the 4th quarter worth approximately $437,000. Finally, HB Wealth Management LLC lifted its stake in shares of Exelixis by 26.6% in the 4th quarter. HB Wealth Management LLC now owns 20,936 shares of the biotechnology company’s stock worth $697,000 after acquiring an additional 4,394 shares during the period. Institutional investors 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.