Exelixis (NASDAQ:EXEL) Stock Price Expected to Rise, UBS Group Analyst Says

Exelixis (NASDAQ:EXEL) had its target price lifted by UBS Group from $38.00 to $43.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a neutral rating on the biotechnology company’s stock.

Several other equities research analysts have also recently weighed in on the company. Barclays increased their target price on Exelixis from $29.00 to $40.00 and gave the company an “equal weight” rating in a report on Thursday. Guggenheim set a $45.00 target price on Exelixis and gave the stock a “buy” rating in a research report on Thursday, May 15th. Morgan Stanley reissued an “overweight” rating and issued a $47.00 target price (up previously from $40.00) on shares of Exelixis in a research report on Wednesday, May 14th. Wells Fargo & Company reissued a “market outperform” rating on shares of Exelixis in a research report on Thursday, April 17th. Finally, Jefferies Financial Group set a $50.00 target price on Exelixis and gave the stock a “buy” rating in a research report on Tuesday, June 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Exelixis currently has an average rating of “Moderate Buy” and a consensus price target of $45.22.

Exelixis Trading Up 0.3%

Shares of Exelixis stock opened at $45.00 on Friday. The firm has a market capitalization of $12.27 billion, a PE ratio of 20.47, a price-to-earnings-growth ratio of 0.90 and a beta of 0.28. The business’s 50-day moving average price is $42.42 and its 200-day moving average price is $38.08. Exelixis has a 12 month low of $22.20 and a 12 month high of $49.62.

Insider Buying and Selling at Exelixis

In related news, Director Sue Gail Eckhardt sold 18,838 shares of the company’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $42.74, for a total transaction of $805,136.12. Following the completion of the sale, the director directly owned 21,380 shares in the company, valued at $913,781.20. This represents a 46.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Tomas J. Heyman sold 4,544 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $44.29, for a total value of $201,253.76. Following the completion of the sale, the director owned 32,470 shares of the company’s stock, valued at approximately $1,438,096.30. This trade represents a 12.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 458,113 shares of company stock worth $21,024,817 over the last quarter. Insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Hedge funds and other institutional investors have recently made changes to their positions in the company. Coppell Advisory Solutions LLC acquired a new stake in shares of Exelixis in the fourth quarter valued at $25,000. Hemington Wealth Management increased its holdings in shares of Exelixis by 211.3% in the first quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 522 shares during the period. Colonial Trust Co SC lifted its holdings in shares of Exelixis by 616.9% during the fourth quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company’s stock worth $30,000 after purchasing an additional 765 shares during the period. Byrne Asset Management LLC lifted its holdings in Exelixis by 129.0% in the second quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 400 shares during the period. Finally, Family Legacy Financial Solutions LLC acquired a new stake in Exelixis in the second quarter valued at $33,000. Hedge funds and other 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.