Exelixis (NASDAQ:EXEL) Price Target Raised to $36.00 at Stifel Nicolaus

Exelixis (NASDAQ:EXEL) had its target price upped by investment analysts at Stifel Nicolaus from $30.00 to $36.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the biotechnology company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 2.58% from the company’s current price.

EXEL has been the topic of several other reports. The Goldman Sachs Group raised Exelixis to a “strong sell” rating in a research report on Tuesday, October 15th. Truist Financial lifted their target price on Exelixis from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Oppenheimer lowered shares of Exelixis from an “outperform” rating to a “market perform” rating and cut their price target for the company from $41.00 to $33.00 in a report on Friday, January 24th. BMO Capital Markets lowered shares of Exelixis from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $36.00 to $40.00 in a research report on Friday, December 20th. Finally, StockNews.com cut Exelixis from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Exelixis presently has a consensus rating of “Moderate Buy” and an average price target of $36.50.

Exelixis Price Performance

Shares of Exelixis stock traded up $2.28 during trading hours on Wednesday, hitting $35.09. The company had a trading volume of 822,996 shares, compared to its average volume of 2,427,834. The company’s 50-day moving average is $34.30 and its two-hundred day moving average is $30.71. The company has a market cap of $10.02 billion, a P/E ratio of 22.58, a price-to-earnings-growth ratio of 0.63 and a beta of 0.53. Exelixis has a twelve month low of $20.14 and a twelve month high of $37.59.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a net margin of 22.43% and a return on equity of 20.99%. Sell-side analysts expect that Exelixis will post 1.74 EPS for the current year.

Insider Activity at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 41,588 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.36, for a total value of $1,428,963.68. Following the transaction, the executive vice president now directly owns 288,665 shares of the company’s stock, valued at approximately $9,918,529.40. This trade represents a 12.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the transaction, the executive vice president now owns 486,059 shares in the company, valued at approximately $17,823,783.53. This trade represents a 10.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,588 shares of company stock valued at $3,981,864 in the last ninety days. Insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EXEL. Norges Bank bought a new stake in shares of Exelixis in the 4th quarter valued at about $94,867,000. Los Angeles Capital Management LLC grew its position in Exelixis by 124.0% during the third quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock worth $46,473,000 after buying an additional 991,494 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Exelixis by 82.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company’s stock valued at $52,884,000 after acquiring an additional 704,786 shares in the last quarter. Globeflex Capital L P lifted its position in shares of Exelixis by 203.8% during the 4th quarter. Globeflex Capital L P now owns 975,151 shares of the biotechnology company’s stock valued at $32,473,000 after acquiring an additional 654,200 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Exelixis in the third quarter worth $14,979,000. 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.