Exelixis (NASDAQ:EXEL) Given New $46.00 Price Target at Royal Bank Of Canada

Exelixis (NASDAQ:EXEL) had its price objective raised by Royal Bank Of Canada from $45.00 to $46.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a sector perform rating on the biotechnology company’s stock.

Several other equities analysts have also recently weighed in on EXEL. TD Cowen restated a “buy” rating on shares of Exelixis in a report on Wednesday, November 5th. Wall Street Zen raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 14th. Leerink Partners raised shares of Exelixis from a “market perform” rating to an “outperform” rating and set a $48.00 price target for the company in a research report on Tuesday, October 21st. HC Wainwright restated a “buy” rating and set a $52.00 price target on shares of Exelixis in a report on Tuesday, February 3rd. Finally, Zacks Research upgraded shares of Exelixis from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Exelixis presently has an average rating of “Hold” and an average target price of $47.11.

Exelixis Stock Performance

Shares of EXEL stock traded up $0.21 during trading hours on Wednesday, hitting $43.15. 656,912 shares of the company were exchanged, compared to its average volume of 2,583,061. Exelixis has a one year low of $32.38 and a one year high of $49.62. The stock has a market capitalization of $11.57 billion, a price-to-earnings ratio of 15.57, a P/E/G ratio of 0.73 and a beta of 0.42. The business’s 50-day simple moving average is $43.67 and its two-hundred day simple moving average is $40.94.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, February 10th. The biotechnology company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.74 by $0.20. The firm had revenue of $598.66 million during the quarter, compared to analysts’ expectations of $609.17 million. Exelixis had a net margin of 33.73% and a return on equity of 36.52%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 EPS. As a group, analysts anticipate that Exelixis will post 2.04 EPS for the current fiscal year.

Insider Buying and Selling at Exelixis

In related news, EVP Patrick J. Haley sold 28,043 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $42.58, for a total value of $1,194,070.94. Following the sale, the executive vice president owned 374,029 shares in the company, valued at approximately $15,926,154.82. This trade represents a 6.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 72,230 shares of company stock worth $3,046,923 in the last quarter. Corporate insiders own 2.82% of the company’s stock.

Institutional Trading of Exelixis

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Richardson Financial Services Inc. increased its stake in shares of Exelixis by 95.1% in 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 Exelixis by 500.0% in the third quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 500 shares during the last quarter. Root Financial Partners LLC purchased a new position in Exelixis in the third quarter valued at $28,000. Luminist Capital LLC increased 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, Activest Wealth Management purchased a new position in Exelixis during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

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.