Exelixis (NASDAQ:EXEL) Stock Price Expected to Rise, Truist Financial Analyst Says

Exelixis (NASDAQ:EXEL) had its price target raised by investment analysts at Truist Financial from $54.00 to $56.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the biotechnology company’s stock. Truist Financial’s price target indicates a potential upside of 0.85% from the company’s previous close.

Several other equities analysts have also recently commented on EXEL. Stifel Nicolaus raised their price target on shares of Exelixis from $44.00 to $47.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th. Citizens Jmp upped their price objective on Exelixis from $50.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Wednesday, June 24th. TD Cowen lifted their target price on Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Wall Street Zen raised Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, Wells Fargo & Company upped their price target on Exelixis from $35.00 to $40.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Nine research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $47.73.

Exelixis Price Performance

Shares of NASDAQ:EXEL opened at $55.53 on Tuesday. The firm has a market capitalization of $13.96 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 1.61 and a beta of 0.42. The firm’s 50-day moving average is $50.75 and its two-hundred day moving average is $46.10. Exelixis has a 1 year low of $33.76 and a 1 year high of $56.21.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.75 by $0.12. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The business had revenue of $610.81 million during the quarter, compared to analyst estimates of $607.51 million. During the same quarter last year, the firm posted $0.55 earnings per share. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. Analysts expect that Exelixis will post 3.16 EPS for the current fiscal year.

Insider Transactions at Exelixis

In other Exelixis news, Director Maria C. Freire sold 20,634 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $46.00, for a total value of $949,164.00. Following the transaction, the director directly owned 100,819 shares in the company, valued at $4,637,674. This represents a 16.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Christopher J. Senner sold 34,901 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $50.00, for a total transaction of $1,745,050.00. Following the sale, the chief financial officer directly owned 952,317 shares in the company, valued at approximately $47,615,850. The trade was a 3.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 219,170 shares of company stock valued at $10,620,641 over the last three months. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Exelixis

Several hedge funds and other institutional investors have recently bought and sold shares of EXEL. Dimensional Fund Advisors LP increased its stake in shares of Exelixis by 11.2% during the third quarter. Dimensional Fund Advisors LP now owns 4,180,912 shares of the biotechnology company’s stock worth $172,658,000 after acquiring an additional 419,596 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Exelixis by 62.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 187,154 shares of the biotechnology company’s stock worth $8,224,000 after purchasing an additional 71,987 shares during the period. Stephens Investment Management Group LLC boosted its stake in shares of Exelixis by 1.1% in the fourth quarter. Stephens Investment Management Group LLC now owns 2,539,421 shares of the biotechnology company’s stock valued at $111,303,000 after buying an additional 28,265 shares in the last quarter. Private Client Services LLC acquired a new position in Exelixis during the fourth quarter worth $1,992,000. Finally, Nisa Investment Advisors LLC raised its position in Exelixis by 692.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 140,446 shares of the biotechnology company’s stock worth $6,156,000 after acquiring an additional 122,720 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

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.