Piper Sandler Issues Positive Forecast for Exelixis (NASDAQ:EXEL) Stock Price

Exelixis (NASDAQ:EXEL) had its target price upped by Piper Sandler from $37.00 to $38.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the biotechnology company’s stock.

Several other research firms also recently issued reports on EXEL. UBS Group boosted their price target on Exelixis from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. JMP Securities reaffirmed a “market outperform” rating and issued a $41.00 price objective on shares of Exelixis in a research note on Thursday, January 23rd. Stifel Nicolaus lifted their price target on shares of Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group upgraded Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. Finally, Truist Financial boosted their price target on shares of Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Exelixis Stock Performance

Shares of NASDAQ:EXEL opened at $32.80 on Wednesday. The business has a fifty day moving average of $34.24 and a 200-day moving average of $30.72. Exelixis has a twelve month low of $20.14 and a twelve month high of $37.59. The firm has a market cap of $9.37 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 0.63 and a beta of 0.53.

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 return on equity of 20.99% and a net margin of 22.43%. On average, analysts anticipate that Exelixis will post 1.74 EPS for the current fiscal year.

Insider Buying and Selling at Exelixis

In related news, EVP Patrick J. Haley sold 41,588 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.36, for a total value of $1,428,963.68. Following the completion of the transaction, the executive vice president now directly owns 288,665 shares in the company, valued at approximately $9,918,529.40. This represents a 12.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 completion of the sale, the executive vice president now directly owns 486,059 shares in the company, valued at approximately $17,823,783.53. The trade was a 10.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,588 shares of company stock valued at $3,981,864. Corporate insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

A number of institutional investors have recently added to or reduced their stakes in EXEL. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Exelixis by 18.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,890 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 290 shares during the period. Steward Partners Investment Advisory LLC increased its position in shares of Exelixis by 4.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,050 shares of the biotechnology company’s stock worth $235,000 after acquiring an additional 330 shares in the last quarter. Covestor Ltd raised its stake in shares of Exelixis by 5.7% in 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. Oregon Public Employees Retirement Fund lifted its holdings in shares of Exelixis by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 58,159 shares of the biotechnology company’s stock valued at $1,937,000 after acquiring an additional 354 shares in the last quarter. Finally, Principal Securities Inc. boosted its position in Exelixis by 62.8% during the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 373 shares during the period. Hedge funds and other 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.