Brokerages Set Exelixis, Inc. (NASDAQ:EXEL) Price Target at $26.29

Exelixis, Inc. (NASDAQ:EXEL) has received a consensus rating of “Moderate Buy” from the sixteen brokerages that are covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $26.33.

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of Exelixis from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. TheStreet upgraded shares of Exelixis from a “c+” rating to a “b-” rating in a report on Monday, March 18th. Barclays downgraded shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price target for the company. in a report on Thursday, April 11th. JMP Securities reiterated a “market outperform” rating and issued a $27.00 price target on shares of Exelixis in a report on Wednesday, April 10th. Finally, HC Wainwright reiterated a “buy” rating and issued a $28.00 price target on shares of Exelixis in a report on Friday.

Insiders Place Their Bets

In other Exelixis news, EVP Patrick J. Haley sold 47,020 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $21.45, for a total transaction of $1,008,579.00. Following the sale, the executive vice president now directly owns 384,866 shares of the company’s stock, valued at approximately $8,255,375.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Alan M. Garber sold 19,205 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $24.01, for a total value of $461,112.05. Following the sale, the director now directly owns 35,703 shares of the company’s stock, valued at $857,229.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Patrick J. Haley sold 47,020 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $21.45, for a total transaction of $1,008,579.00. Following the completion of the sale, the executive vice president now directly owns 384,866 shares in the company, valued at $8,255,375.70. The disclosure for this sale can be found here. 2.85% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Exelixis

Several hedge funds have recently modified their holdings of EXEL. GSA Capital Partners LLP purchased a new position in Exelixis in the first quarter valued at approximately $1,281,000. Nordea Investment Management AB raised its holdings in Exelixis by 17.3% in the first quarter. Nordea Investment Management AB now owns 202,292 shares of the biotechnology company’s stock valued at $4,835,000 after buying an additional 29,784 shares during the period. Janney Montgomery Scott LLC raised its holdings in Exelixis by 6.1% in the first quarter. Janney Montgomery Scott LLC now owns 60,746 shares of the biotechnology company’s stock valued at $1,442,000 after buying an additional 3,510 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Exelixis by 3.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,771 shares of the biotechnology company’s stock valued at $778,000 after buying an additional 1,301 shares during the period. Finally, Smith Group Asset Management LLC purchased a new position in Exelixis in the first quarter valued at approximately $228,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Stock Performance

Shares of Exelixis stock opened at $21.90 on Tuesday. The company has a market cap of $6.38 billion, a P/E ratio of 34.22, a PEG ratio of 0.57 and a beta of 0.57. Exelixis has a one year low of $18.52 and a one year high of $24.34. The firm has a fifty day moving average of $22.98 and a two-hundred day moving average of $22.22.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, April 30th. The biotechnology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.16). The firm had revenue of $425.23 million for the quarter, compared to analysts’ expectations of $461.04 million. Exelixis had a return on equity of 8.85% and a net margin of 11.10%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 EPS. As a group, equities analysts predict that Exelixis will post 1.22 earnings per share for the current year.

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.