Analysts Set Exelixis, Inc. (NASDAQ:EXEL) Price Target at $46.94

Shares of Exelixis, Inc. (NASDAQ:EXEL) have earned a consensus rating of “Hold” from the twenty-three ratings firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $46.9444.

Several brokerages recently weighed in on EXEL. Wells Fargo & Company boosted their target price on shares of Exelixis from $30.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 11th. Wall Street Zen raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 14th. UBS Group set a $41.00 price target on shares of Exelixis in a report on Monday, January 5th. Truist Financial raised shares of Exelixis to a “strong-buy” rating in a research report on Wednesday, March 25th. Finally, Royal Bank Of Canada reduced their price objective on shares of Exelixis from $46.00 to $43.00 and set a “sector perform” rating on the stock in a research note on Monday, March 2nd.

Exelixis Stock Performance

Shares of NASDAQ:EXEL opened at $43.88 on Tuesday. The business’s fifty day moving average price is $42.69 and its two-hundred day moving average price is $42.07. The stock has a market cap of $11.40 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 0.99 and a beta of 0.42. Exelixis has a one year low of $32.38 and a one year high of $49.62.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.20. Exelixis had a return on equity of 36.29% and a net margin of 33.73%.The company had revenue of $598.66 million during the quarter, compared to analysts’ expectations of $609.17 million. During the same period in the previous year, the firm posted $0.55 earnings per share. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, equities research analysts predict that Exelixis will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Patrick J. Haley sold 67,814 shares of Exelixis stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $43.52, for a total value of $2,951,265.28. Following the completion of the sale, the executive vice president owned 381,908 shares of the company’s stock, valued at $16,620,636.16. The trade was a 15.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dana Aftab sold 47,918 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $44.50, for a total value of $2,132,351.00. Following the completion of the transaction, the executive vice president owned 616,106 shares of the company’s stock, valued at $27,416,717. The trade was a 7.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 362,849 shares of company stock worth $15,917,463 in the last three months. 2.82% of the stock is currently owned by insiders.

Institutional Trading of Exelixis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Richardson Financial Services Inc. lifted its holdings in shares of Exelixis by 95.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 292 shares during the period. RHS Financial LLC grew its holdings in Exelixis by 2.4% in the fourth quarter. RHS Financial LLC now owns 12,619 shares of the biotechnology company’s stock valued at $553,000 after purchasing an additional 293 shares during the period. Meeder Advisory Services Inc. increased its position in Exelixis by 5.8% during the fourth quarter. Meeder Advisory Services Inc. now owns 5,406 shares of the biotechnology company’s stock worth $237,000 after purchasing an additional 298 shares during the last quarter. Cim LLC increased its position in Exelixis by 0.9% during the third quarter. Cim LLC now owns 35,397 shares of the biotechnology company’s stock worth $1,462,000 after purchasing an additional 305 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its stake in Exelixis by 6.4% during the third quarter. Evergreen Capital Management LLC now owns 5,450 shares of the biotechnology company’s stock worth $225,000 after purchasing an additional 329 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Exelixis Company Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.