Exelixis (NASDAQ:EXEL) Price Target Raised to $27.00 at TD Cowen

Exelixis (NASDAQ:EXEL) had its price target upped by TD Cowen from $25.00 to $27.00 in a research report report published on Wednesday, Benzinga reports. TD Cowen currently has a buy rating on the biotechnology company’s stock.

Several other equities research analysts have also recently issued reports on EXEL. William Blair reiterated an outperform rating on shares of Exelixis in a research report on Wednesday. Stifel Nicolaus lifted their price objective on shares of Exelixis from $23.00 to $25.00 and gave the company a hold rating in a research report on Friday, February 2nd. Barclays cut shares of Exelixis from an overweight rating to an equal weight rating and set a $25.00 price objective on the stock. in a research report on Thursday, April 11th. JMP Securities reiterated a market outperform rating and set a $27.00 price objective on shares of Exelixis in a research report on Wednesday, April 10th. Finally, Royal Bank of Canada boosted their price target on shares of Exelixis from $26.00 to $28.00 and gave the stock an outperform rating in a research report on Wednesday, February 7th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $26.33.

Exelixis Trading Down 1.0 %

NASDAQ EXEL opened at $21.90 on Wednesday. Exelixis has a 12 month low of $18.52 and a 12 month high of $24.34. The stock has a market cap of $6.38 billion, a price-to-earnings ratio of 34.22, a PEG ratio of 0.57 and a beta of 0.57. The company’s 50 day moving average is $22.97 and its two-hundred day moving average is $22.22.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, April 30th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.16). The company had revenue of $425.23 million for the quarter, compared to the consensus estimate of $461.04 million. Exelixis had a net margin of 11.10% and a return on equity of 8.85%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.12 EPS. Sell-side analysts forecast that Exelixis will post 1.23 EPS for the current year.

Insiders Place Their Bets

In other Exelixis news, EVP Patrick J. Haley sold 47,020 shares of Exelixis stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $21.45, for a total transaction of $1,008,579.00. Following the completion of the transaction, the executive vice president now directly owns 384,866 shares of the company’s stock, valued at $8,255,375.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director David Edward Johnson bought 190,000 shares of the stock in a transaction dated Wednesday, February 21st. The stock was purchased at an average cost of $20.70 per share, with a total value of $3,933,000.00. Following the completion of the purchase, the director now owns 1,100,730 shares of the company’s stock, valued at $22,785,111. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Patrick J. Haley sold 47,020 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $21.45, for a total transaction of $1,008,579.00. Following the sale, the executive vice president now directly owns 384,866 shares of the company’s stock, valued at $8,255,375.70. The disclosure for this sale can be found here. 2.85% of the stock is owned by insiders.

Institutional Trading of Exelixis

A number of large investors have recently made changes to their positions in the stock. GSA Capital Partners LLP purchased a new stake in shares of Exelixis during the first quarter valued at $1,281,000. Nordea Investment Management AB lifted its stake in Exelixis by 17.3% in the first quarter. Nordea Investment Management AB now owns 202,292 shares of the biotechnology company’s stock worth $4,835,000 after acquiring an additional 29,784 shares during the period. Janney Montgomery Scott LLC lifted its stake in Exelixis by 6.1% in the first quarter. Janney Montgomery Scott LLC now owns 60,746 shares of the biotechnology company’s stock worth $1,442,000 after acquiring an additional 3,510 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Exelixis by 3.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,771 shares of the biotechnology company’s stock worth $778,000 after acquiring an additional 1,301 shares during the period. Finally, Smith Group Asset Management LLC purchased a new stake in Exelixis in the first quarter worth about $228,000. 85.27% of the stock is owned by hedge funds and other 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.