Exelixis, Inc. (NASDAQ:EXEL) Stock Has Average Target Price of $50.29 According to Analysts

Exelixis, Inc. (NASDAQ:EXEL) has received a consensus recommendation of “Hold” from the twenty brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $50.29.

A number of equities research analysts recently commented on EXEL shares. Leerink Partners lowered Exelixis from an “outperform” rating to a “market perform” rating and set a $52.00 price target for the company. in a research report on Thursday, August 6th. HC Wainwright reaffirmed a “buy” rating and set a $56.00 price objective on shares of Exelixis in a report on Thursday, July 2nd. Weiss Ratings upgraded shares of Exelixis from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday, August 11th. Barclays increased their target price on shares of Exelixis from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Tuesday, July 14th. Finally, Royal Bank Of Canada raised their price target on shares of Exelixis from $43.00 to $46.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 7th.

Insider Buying and Selling

In other Exelixis news, Director Mary Beckerle sold 9,812 shares of the 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 sale, the director owned 16,079 shares in the company, valued at approximately $862,799.14. This trade represents a 37.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Several institutional investors have recently modified their holdings of EXEL. Arkadios Wealth Advisors bought a new position in shares of Exelixis during the 1st quarter valued at approximately $476,000. Corient Private Wealth LP purchased a new stake in shares of Exelixis during the 2nd quarter worth approximately $4,324,000. L2 Asset Management LLC bought a new stake in shares of Exelixis in the 2nd quarter worth approximately $6,839,000. BlackRock Inc. bought a new stake in shares of Exelixis in the 2nd quarter worth approximately $1,581,991,000. Finally, JLB & Associates Inc. purchased a new position in Exelixis in the second quarter valued at approximately $2,658,000. 85.27% of the stock is owned by institutional investors.

Exelixis Stock Performance

EXEL stock opened at $57.95 on Tuesday. The company has a market capitalization of $14.36 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 1.73 and a beta of 0.42. Exelixis has a 52-week low of $33.76 and a 52-week high of $59.72. The business has a 50-day simple moving average of $55.58 and a two-hundred day simple moving average of $50.96.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.91 EPS for the quarter, topping the consensus estimate 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 posted $0.75 earnings per share. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Exelixis will post 3.19 earnings per share for the current fiscal year.

About Exelixis

Exelixis, Inc (NASDAQ: EXEL) is a biopharmaceutical company focused on discovering, developing and commercializing medicines for cancer and other serious diseases. The company’s research and development activities center on targeted therapies designed to address biological pathways involved in tumor growth and progression.

Exelixis’ principal product is cabozantinib, marketed in the United States as CABOMETYX tablets for certain patients with advanced renal cell carcinoma, hepatocellular carcinoma and radioactive iodine-refractory differentiated thyroid cancer.