Brokerages Set Exelixis, Inc. (NASDAQ:EXEL) Price Target at $45.95

Shares of Exelixis, Inc. (NASDAQ:EXEL) have been assigned an average rating of “Hold” from the twenty-six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $45.9474.

Several equities analysts have issued reports on the stock. Wall Street Zen raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 14th. Cowen restated a “buy” rating on shares of Exelixis in a research note on Wednesday, November 5th. UBS Group set a $41.00 target price on Exelixis in a research report on Monday, January 5th. Truist Financial set a $51.00 price target on Exelixis in a research note on Wednesday. Finally, Oppenheimer restated a “market perform” rating and set a $36.00 price target on shares of Exelixis in a research note on Wednesday, November 5th.

Insider Activity at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 28,043 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $42.58, for a total transaction of $1,194,070.94. Following the sale, the executive vice president owned 374,029 shares in the company, valued at approximately $15,926,154.82. The trade was a 6.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dana Aftab sold 48,383 shares of the stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $42.50, for a total value of $2,056,277.50. Following the completion of the transaction, the executive vice president directly owned 664,778 shares in the company, valued at $28,253,065. This represents a 6.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 245,235 shares of company stock worth $10,490,600 in the last quarter. 2.82% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Exelixis

Institutional investors have recently bought and sold shares of the business. Richardson Financial Services Inc. boosted its holdings in shares of Exelixis by 95.1% in the 3rd quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 292 shares during the last quarter. Anchor Investment Management LLC lifted its position in Exelixis by 500.0% during the third quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 500 shares during the period. Root Financial Partners LLC purchased a new stake in Exelixis in the third quarter valued at $28,000. Byrne Asset Management LLC grew its position in Exelixis by 129.0% during the 2nd quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 400 shares during the period. Finally, Luminist Capital LLC raised its stake in shares of Exelixis by 2,740.0% during the 2nd quarter. Luminist Capital LLC now owns 710 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 685 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Stock Performance

Shares of Exelixis stock opened at $43.96 on Thursday. The company has a market capitalization of $11.79 billion, a PE ratio of 18.55, a P/E/G ratio of 0.79 and a beta of 0.40. The company has a 50-day simple moving average of $43.53 and a two-hundred day simple moving average of $41.13. Exelixis has a one year low of $31.90 and a one year high of $49.62.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.10. The business had revenue of $597.76 million for the quarter, compared to analysts’ expectations of $590.04 million. Exelixis had a net margin of 29.63% and a return on equity of 31.06%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same period last year, the business earned $0.47 EPS. On average, equities analysts predict that Exelixis will post 2.04 earnings per share for the current fiscal year.

About Exelixis

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.