Exelixis (NASDAQ:EXEL) Given Buy Rating at Truist Financial

Exelixis (NASDAQ:EXEL)‘s stock had its “buy” rating reissued by equities research analysts at Truist Financial in a research report issued on Monday,Benzinga reports. They currently have a $55.00 price target on the biotechnology company’s stock, up from their previous price target of $43.00. Truist Financial’s price target suggests a potential upside of 25.15% from the company’s current price.

Several other equities analysts have also issued reports on the company. Morgan Stanley reiterated an “overweight” rating and issued a $47.00 target price (up previously from $40.00) on shares of Exelixis in a research note on Wednesday, May 14th. JMP Securities lifted their price objective on shares of Exelixis from $47.00 to $50.00 and gave the stock a “market outperform” rating in a research report on Monday. Stifel Nicolaus increased their target price on shares of Exelixis from $36.00 to $38.00 and gave the company a “hold” rating in a research report on Wednesday, May 14th. Guggenheim set a $45.00 target price on shares of Exelixis and gave the company a “buy” rating in a research note on Thursday, May 15th. Finally, UBS Group reaffirmed an “underperform” rating on shares of Exelixis in a research report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Exelixis currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Exelixis Stock Up 8.9%

EXEL stock traded up $3.58 during trading on Monday, hitting $43.95. 5,941,774 shares of the company’s stock traded hands, compared to its average volume of 2,391,665. The business has a fifty day simple moving average of $40.30 and a two-hundred day simple moving average of $37.06. The firm has a market capitalization of $11.98 billion, a P/E ratio of 19.96, a PEG ratio of 0.82 and a beta of 0.28. Exelixis has a 1 year low of $21.82 and a 1 year high of $51.89.

Insider Activity at Exelixis

In other Exelixis news, EVP Dana Aftab sold 1,508 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $39.00, for a total value of $58,812.00. Following the sale, the executive vice president now directly owns 693,181 shares of the company’s stock, valued at approximately $27,034,059. This represents a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Patrick J. Haley sold 126,383 shares of Exelixis stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $47.96, for a total value of $6,061,328.68. Following the transaction, the executive vice president now owns 446,459 shares of the company’s stock, valued at $21,412,173.64. The trade was a 22.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 458,113 shares of company stock worth $21,024,817 over the last quarter. Insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

Several hedge funds have recently bought and sold shares of the stock. Coppell Advisory Solutions LLC purchased a new stake in Exelixis during the fourth quarter worth $25,000. Hemington Wealth Management raised its position in shares of Exelixis by 211.3% in the first quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 522 shares during the period. Colonial Trust Co SC boosted its stake in shares of Exelixis by 616.9% during the 4th quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company’s stock worth $30,000 after acquiring an additional 765 shares in the last quarter. Principal Securities Inc. grew its position in shares of Exelixis by 62.8% during the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 373 shares during the period. Finally, Bartlett & CO. Wealth Management LLC acquired a new stake in shares of Exelixis during the 1st quarter valued at about $37,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

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.