Exelixis (NASDAQ:EXEL) Given New $43.00 Price Target at Truist Financial

Exelixis (NASDAQ:EXEL) had its price target upped by analysts at Truist Financial from $42.00 to $43.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Truist Financial’s price objective suggests a potential upside of 30.32% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on EXEL. Stephens reiterated an “equal weight” rating and set a $29.00 price objective on shares of Exelixis in a research report on Monday. Oppenheimer cut shares of Exelixis from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $41.00 to $33.00 in a research report on Friday. JMP Securities restated a “market outperform” rating and issued a $41.00 price target on shares of Exelixis in a research report on Thursday. Piper Sandler upped their price target on shares of Exelixis from $36.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, Brookline Capital Management began coverage on shares of Exelixis in a research report on Monday, December 23rd. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.81.

Exelixis Stock Up 1.9 %

Shares of NASDAQ:EXEL traded up $0.62 during midday trading on Monday, hitting $33.00. The stock had a trading volume of 1,054,700 shares, compared to its average volume of 2,657,945. The company’s 50-day moving average price is $34.87 and its 200-day moving average price is $29.82. The company has a market capitalization of $9.42 billion, a P/E ratio of 21.14, a price-to-earnings-growth ratio of 0.72 and a beta of 0.53. Exelixis has a fifty-two week low of $20.01 and a fifty-two week high of $37.59.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. The company had revenue of $539.50 million during the quarter, compared to analysts’ expectations of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 EPS. Research analysts expect that Exelixis will post 1.74 EPS for the current fiscal year.

Insider Buying and Selling

In other Exelixis news, EVP Dana Aftab sold 1,162 shares of Exelixis stock in a transaction dated Wednesday, October 30th. The stock was 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 owns 498,945 shares in the company, valued at approximately $15,666,873. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George Poste sold 30,000 shares of Exelixis stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $34.00, for a total value of $1,020,000.00. Following the transaction, the director now owns 169,020 shares of the company’s stock, valued at $5,746,680. This trade represents a 15.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 289,736 shares of company stock valued at $10,139,360 over the last ninety days. 2.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Exelixis

Several institutional investors have recently bought and sold shares of EXEL. MassMutual Private Wealth & Trust FSB raised its holdings in Exelixis by 18.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,890 shares of the biotechnology company’s stock valued at $63,000 after acquiring an additional 290 shares during the period. Covestor Ltd raised its holdings in Exelixis by 5.7% during the 3rd quarter. Covestor Ltd now owns 6,335 shares of the biotechnology company’s stock valued at $164,000 after acquiring an additional 341 shares during the period. Fifth Third Bancorp raised its holdings in Exelixis by 16.1% during the 4th quarter. Fifth Third Bancorp now owns 3,231 shares of the biotechnology company’s stock valued at $108,000 after acquiring an additional 449 shares during the period. Creative Planning raised its holdings in Exelixis by 0.8% during the 2nd quarter. Creative Planning now owns 71,700 shares of the biotechnology company’s stock valued at $1,611,000 after acquiring an additional 548 shares during the period. Finally, UMB Bank n.a. increased its holdings in shares of Exelixis by 68.4% in the fourth quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 553 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

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.