HC Wainwright Increases Exelixis (NASDAQ:EXEL) Price Target to $52.00

Exelixis (NASDAQ:EXEL) had its target price upped by investment analysts at HC Wainwright from $49.00 to $52.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective suggests a potential upside of 21.89% from the company’s previous close.

Several other research firms have also commented on EXEL. Truist Financial set a $51.00 target price on Exelixis in a research note on Wednesday, January 14th. Citigroup cut Exelixis from a “market outperform” rating to an “underperform” rating in a report on Monday, January 5th. Stifel Nicolaus set a $43.00 price objective on shares of Exelixis in a report on Wednesday, November 5th. UBS Group set a $41.00 target price on shares of Exelixis in a report on Monday, January 5th. Finally, Wolfe Research initiated coverage on shares of Exelixis in a research report on Tuesday, November 18th. They set a “peer perform” rating for the company. Eleven investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Exelixis currently has a consensus rating of “Hold” and a consensus target price of $45.95.

Exelixis Price Performance

Shares of NASDAQ EXEL opened at $42.66 on Tuesday. The company has a 50-day simple moving average of $43.77 and a 200-day simple moving average of $41.08. The company has a market cap of $11.44 billion, a PE ratio of 18.00, a price-to-earnings-growth ratio of 0.79 and a beta of 0.40. Exelixis has a 12 month low of $32.38 and a 12 month high of $49.62.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.10. The firm had revenue of $597.76 million for the quarter, compared to analyst estimates of $590.04 million. Exelixis had a net margin of 29.63% and a return on equity of 31.06%. Exelixis’s revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.47 earnings per share. On average, analysts anticipate that Exelixis will post 2.04 EPS for the current year.

Insider Buying and Selling at Exelixis

In other news, Director Stelios Papadopoulos sold 100,000 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $43.55, for a total value of $4,355,000.00. Following the completion of the sale, the director owned 1,189,228 shares of the company’s stock, valued at $51,790,879.40. This represents a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Patrick J. Haley sold 28,043 shares of Exelixis stock in a transaction on Friday, November 21st. The shares were sold at an average price of $42.58, for a total transaction of $1,194,070.94. Following the transaction, the executive vice president owned 374,029 shares in the company, valued at $15,926,154.82. The trade was a 6.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 245,235 shares of company stock valued at $10,490,600 in the last ninety days. Corporate insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

Several institutional investors and hedge funds have recently modified their holdings of the stock. Richardson Financial Services Inc. lifted its position in Exelixis by 95.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 292 shares in the last quarter. Anchor Investment Management LLC raised its stake in shares of Exelixis by 500.0% during the third quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 500 shares during the period. Root Financial Partners LLC acquired a new position in shares of Exelixis during the third quarter worth $28,000. Luminist Capital LLC lifted its position in shares of Exelixis by 2,740.0% during the second quarter. Luminist Capital LLC now owns 710 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 685 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Exelixis by 1,380.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 773 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Exelixis Company Profile

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.