Exelixis (NASDAQ:EXEL) Price Target Raised to $50.00 at JMP Securities

Exelixis (NASDAQ:EXEL) had its price objective increased by JMP Securities from $47.00 to $50.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “market outperform” rating on the biotechnology company’s stock. JMP Securities’ price objective indicates a potential upside of 9.36% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Guggenheim set a $45.00 target price on Exelixis and gave the company a “buy” rating in a report on Thursday, May 15th. Bank of America raised their price objective on Exelixis from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, June 5th. Stifel Nicolaus lifted their target price on Exelixis from $36.00 to $38.00 and gave the company a “hold” rating in a research report on Wednesday, May 14th. Citigroup increased their target price on shares of Exelixis from $45.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Finally, Wells Fargo & Company restated a “market outperform” rating on shares of Exelixis in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.82.

Exelixis Trading Up 5.4%

NASDAQ EXEL opened at $45.72 on Monday. The firm’s 50 day simple moving average is $40.64 and its 200 day simple moving average is $37.17. The firm has a market capitalization of $12.47 billion, a price-to-earnings ratio of 20.78, a P/E/G ratio of 0.88 and a beta of 0.28. Exelixis has a 1 year low of $21.82 and a 1 year high of $49.62.

Insiders Place Their Bets

In other Exelixis news, Director Jack L. Wyszomierski sold 7,535 shares of Exelixis stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $43.09, for a total transaction of $324,683.15. Following the transaction, the director now directly owns 358,882 shares of the company’s stock, valued at approximately $15,464,225.38. The trade was a 2.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Dana Aftab sold 1,508 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $39.00, for a total value of $58,812.00. Following the completion of the sale, the executive vice president now owns 693,181 shares in the company, valued at $27,034,059. This trade represents a 0.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 458,113 shares of company stock valued at $21,024,817 in the last ninety days. 2.85% of the stock is currently owned by insiders.

Institutional Trading of Exelixis

Institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new position in shares of Exelixis in the 4th quarter worth approximately $17,046,000. Proficio Capital Partners LLC bought a new position in Exelixis during the fourth quarter worth $706,000. Wells Fargo & Company MN raised its stake in Exelixis by 1,637.9% during the fourth quarter. Wells Fargo & Company MN now owns 746,286 shares of the biotechnology company’s stock worth $24,851,000 after buying an additional 703,343 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Exelixis by 958.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,942 shares of the biotechnology company’s stock valued at $99,000 after buying an additional 2,664 shares during the period. Finally, Park Avenue Securities LLC boosted its position in Exelixis by 10.6% during the first quarter. Park Avenue Securities LLC now owns 7,358 shares of the biotechnology company’s stock valued at $272,000 after acquiring an additional 707 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors.

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.