Exelixis, Inc. (NASDAQ:EXEL) Stock Has Consensus Target Price of $50.79 According to Brokerages

Exelixis, Inc. (NASDAQ:EXEL) has received a consensus recommendation of “Hold” from the twenty research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $50.79.

A number of equities research analysts have issued reports on EXEL shares. UBS Group set a $55.00 target price on Exelixis in a research note on Monday, August 3rd. Truist Financial upped their price target on shares of Exelixis from $52.00 to $54.00 and gave the stock a “hold” rating in a research report on Wednesday, October 7th. Weiss Ratings raised shares of Exelixis from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, October 8th. Citigroup reaffirmed a “market outperform” rating on shares of Exelixis in a report on Monday, September 14th. Finally, Leerink Partners downgraded shares of Exelixis from an “outperform” rating to a “market perform” rating and set a $52.00 price objective on the stock. in a research report on Thursday, August 6th.

Insider Buying and Selling

In other Exelixis news, Director Mary Beckerle sold 9,812 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $53.66, for a total value of $526,511.92. Following the completion of the transaction, the director owned 16,079 shares in the company, valued at approximately $862,799.14. This represents a 37.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Exelixis

Hedge funds have recently made changes to their positions in the business. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Exelixis in the first quarter worth $27,000. Western Wealth Management LLC purchased a new position in shares of Exelixis during the first quarter valued at $29,000. Mather Group LLC. raised its position in Exelixis by 124.6% during the third quarter. Mather Group LLC. now owns 757 shares of the biotechnology company’s stock valued at $44,000 after buying an additional 420 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Exelixis during the second quarter valued at $46,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in Exelixis in the 2nd quarter worth about $57,000. Institutional investors own 85.27% of the company’s stock.

Exelixis Price Performance

Shares of NASDAQ EXEL traded down $0.60 during mid-day trading on Friday, hitting $62.23. The company had a trading volume of 2,637,281 shares, compared to its average volume of 2,404,932. Exelixis has a 12 month low of $33.76 and a 12 month high of $63.39. The stock has a market cap of $15.42 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 1.76 and a beta of 0.47. The firm’s 50 day simple moving average is $56.89 and its two-hundred day simple moving average is $52.88.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Exelixis had a return on equity of 42.17% and a net margin of 35.33%. The firm had revenue of $628.69 million during the quarter, compared to the consensus estimate of $636.40 million. During the same period in the prior year, the business earned $0.75 EPS. The firm’s revenue was up 10.6% on a year-over-year basis. Equities analysts forecast that Exelixis will post 3.19 earnings per share for the current year.

Exelixis Company Profile

Exelixis, Inc is a biopharmaceutical company focused on discovering, developing, and commercializing medicines for cancer. The company’s research and development activities are centered primarily on targeted therapies and other treatments for solid tumors.

Exelixis’ principal product is cabozantinib, marketed in the United States as CABOMETYX tablets for certain patients with renal cell carcinoma, hepatocellular carcinoma, and differentiated thyroid cancer. The company also markets COMETRIQ, a cabozantinib formulation approved in the United States for progressive or metastatic medullary thyroid cancer.

Exelixis was founded in 1994 and is headquartered in Alameda, California.