TD Cowen Boosts Exelixis (NASDAQ:EXEL) Price Target to $27.00

Exelixis (NASDAQ:EXEL) had its target price lifted by TD Cowen from $25.00 to $27.00 in a report released on Wednesday, Benzinga reports. TD Cowen currently has a buy rating on the biotechnology company’s stock.

EXEL has been the topic of a number of other reports. TheStreet upgraded shares of Exelixis from a c+ rating to a b- rating in a research note on Monday, March 18th. Stifel Nicolaus boosted their target price on Exelixis from $23.00 to $25.00 and gave the stock a hold rating in a report on Friday, February 2nd. JMP Securities reaffirmed a market outperform rating and set a $27.00 price target on shares of Exelixis in a research note on Wednesday, April 10th. William Blair reiterated an outperform rating on shares of Exelixis in a research report on Wednesday. Finally, Barclays lowered Exelixis from an overweight rating to an equal weight rating and set a $25.00 price objective for the company. in a report on Thursday, April 11th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Exelixis has an average rating of Moderate Buy and an average price target of $26.33.

Exelixis Trading Down 1.0 %

NASDAQ EXEL opened at $21.90 on Wednesday. The company has a 50-day moving average price of $22.98 and a two-hundred day moving average price of $22.23. The stock has a market cap of $6.38 billion, a price-to-earnings ratio of 34.22, a price-to-earnings-growth ratio of 0.56 and a beta of 0.57. Exelixis has a 52 week low of $18.52 and a 52 week high of $24.34.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, April 30th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.16). The business had revenue of $425.23 million during the quarter, compared to the consensus estimate of $461.04 million. Exelixis had a return on equity of 8.85% and a net margin of 11.10%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company earned $0.12 earnings per share. As a group, equities research analysts expect that Exelixis will post 1.17 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Exelixis

Large investors have recently made changes to their positions in the company. Fisher Asset Management LLC lifted its stake in Exelixis by 232.6% in the fourth quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 728 shares during the last quarter. Contravisory Investment Management Inc. bought a new position in shares of Exelixis during the 4th quarter valued at $26,000. GAMMA Investing LLC acquired a new stake in shares of Exelixis in the 4th quarter valued at $27,000. Rise Advisors LLC bought a new stake in Exelixis in the first quarter worth $28,000. Finally, Fifth Third Bancorp increased its position in Exelixis by 44.2% during the third quarter. Fifth Third Bancorp now owns 1,970 shares of the biotechnology company’s stock worth $43,000 after buying an additional 604 shares during the last quarter. 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.