Exelixis, Inc. (NASDAQ:EXEL – Get Free Report) hit a new 52-week high during mid-day trading on Tuesday after JMP Securities raised their price target on the stock from $47.00 to $50.00. JMP Securities currently has a market outperform rating on the stock. Exelixis traded as high as $49.62 and last traded at $43.37, with a volume of 9358364 shares changing hands. The stock had previously closed at $40.37.
Other analysts also recently issued reports about the company. Citigroup increased their price objective on Exelixis from $45.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Stifel Nicolaus upped their price target on Exelixis from $36.00 to $38.00 and gave the stock a “hold” rating in a report on Wednesday, May 14th. Guggenheim set a $45.00 price target on Exelixis and gave the company a “buy” rating in a research report on Thursday, May 15th. Wells Fargo & Company restated a “market outperform” rating on shares of Exelixis in a research note on Thursday, April 17th. Finally, Bank of America upped their target price on shares of Exelixis from $45.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, June 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.00.
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Insider Buying and Selling
Institutional Investors Weigh In On Exelixis
A number of institutional investors and hedge funds have recently modified their holdings of EXEL. Raymond James Financial Inc. purchased a new position in Exelixis during the fourth quarter valued at approximately $17,046,000. Proficio Capital Partners LLC bought a new position in Exelixis in the 4th quarter valued at $706,000. Wells Fargo & Company MN grew its position in shares of Exelixis by 1,637.9% during the 4th quarter. Wells Fargo & Company MN now owns 746,286 shares of the biotechnology company’s stock valued at $24,851,000 after purchasing an additional 703,343 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Exelixis by 958.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,942 shares of the biotechnology company’s stock worth $99,000 after purchasing an additional 2,664 shares during the period. Finally, Park Avenue Securities LLC increased its holdings in shares of Exelixis by 10.6% in the first quarter. Park Avenue Securities LLC now owns 7,358 shares of the biotechnology company’s stock worth $272,000 after purchasing an additional 707 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.
Exelixis Stock Up 7.4%
The company has a market cap of $11.83 billion, a PE ratio of 19.71, a P/E/G ratio of 0.82 and a beta of 0.28. The stock has a 50-day moving average of $40.45 and a 200-day moving average of $37.11.
Exelixis Company Profile
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.
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