Exelixis (NASDAQ:EXEL) Price Target Raised to $65.00

Exelixis (NASDAQ:EXEL) had its price target increased by Citizens Jmp from $55.00 to $65.00 in a research report report published on Monday,Benzinga reports. Citizens Jmp currently has a market outperform rating on the biotechnology company’s stock.

Other equities research analysts have also recently issued research reports about the stock. William Blair reissued an “outperform” rating on shares of Exelixis in a research report on Friday, September 11th. Royal Bank Of Canada upped their price target on shares of Exelixis from $45.00 to $51.00 and gave the company a “sector perform” rating in a research note on Friday, October 9th. Barclays raised their price target on shares of Exelixis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 14th. Zacks Research upgraded shares of Exelixis from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 1st. Finally, Wells Fargo & Company boosted their price objective on shares of Exelixis from $40.00 to $49.00 and gave the company an “equal weight” rating in a report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $51.50.

Exelixis Trading Up 0.3%

NASDAQ:EXEL opened at $64.58 on Monday. The stock has a market cap of $16.00 billion, a P/E ratio of 20.31, a PEG ratio of 1.81 and a beta of 0.47. The stock has a 50 day simple moving average of $57.63 and a 200 day simple moving average of $53.38. Exelixis has a 1-year low of $35.44 and a 1-year high of $64.78.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share (EPS) for the quarter, beating 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 business had revenue of $628.69 million during the quarter, compared to the consensus estimate of $636.40 million. During the same period in the previous year, the company posted $0.75 EPS. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, sell-side analysts forecast that Exelixis will post 3.19 EPS for the current year.

Insiders Place Their Bets

In other Exelixis news, Director Mary Beckerle sold 9,812 shares of Exelixis stock in a transaction on Monday, August 10th. The stock was sold at an average price of $53.66, for a total value of $526,511.92. Following the completion of the transaction, the director directly owned 16,079 shares of the company’s stock, valued at $862,799.14. The trade was a 37.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Exelixis

Several large investors have recently modified their holdings of the stock. Sowell Financial Services LLC increased its position in shares of Exelixis by 78.7% in the third quarter. Sowell Financial Services LLC now owns 9,010 shares of the biotechnology company’s stock worth $526,000 after purchasing an additional 3,967 shares during the period. Nisa Investment Advisors LLC lifted its position in Exelixis by 195.6% during the third quarter. Nisa Investment Advisors LLC now owns 108,670 shares of the biotechnology company’s stock worth $6,347,000 after purchasing an additional 71,912 shares during the period. CWA Asset Management Group LLC lifted its position in Exelixis by 7.0% during the third quarter. CWA Asset Management Group LLC now owns 67,607 shares of the biotechnology company’s stock worth $3,949,000 after purchasing an additional 4,434 shares during the period. IFP Advisors Inc grew its stake in Exelixis by 45.1% during the third quarter. IFP Advisors Inc now owns 62,529 shares of the biotechnology company’s stock worth $3,652,000 after buying an additional 19,428 shares in the last quarter. Finally, Annex Advisory Services LLC grew its stake in Exelixis by 14.1% during the third quarter. Annex Advisory Services LLC now owns 29,572 shares of the biotechnology company’s stock worth $1,727,000 after buying an additional 3,654 shares in the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Company Profile

Exelixis, Inc is a biopharmaceutical company focused on discovering, developing, and commercializing medicines for cancer and other serious diseases. The company’s research programs center primarily on targeted therapies, including treatments designed to inhibit signaling pathways involved in tumor growth and progression.

Exelixis’ lead product is CABOMETYX (cabozantinib), an oral medicine approved in the United States for certain patients with renal cell carcinoma, hepatocellular carcinoma, and differentiated thyroid cancer.