TD Cowen Increases Exelixis (NASDAQ:EXEL) Price Target to $34.00

Exelixis (NASDAQ:EXEL) had its price objective upped by TD Cowen from $27.00 to $34.00 in a research report sent to investors on Monday morning, Benzinga reports. TD Cowen currently has a buy rating on the biotechnology company’s stock.

A number of other brokerages also recently weighed in on EXEL. UBS Group started coverage on Exelixis in a research report on Thursday, September 19th. They set a “neutral” rating and a $30.00 price objective on the stock. Morgan Stanley raised their price target on Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. The Goldman Sachs Group raised Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. StockNews.com raised Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 13th. Finally, Stifel Nicolaus raised their price target on Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Exelixis presently has a consensus rating of “Moderate Buy” and an average target price of $29.57.

Exelixis Stock Down 0.7 %

EXEL stock opened at $28.11 on Monday. The business’s fifty day simple moving average is $26.58 and its two-hundred day simple moving average is $23.97. Exelixis has a twelve month low of $19.12 and a twelve month high of $29.75. The firm has a market cap of $8.52 billion, a price-to-earnings ratio of 43.92, a PEG ratio of 0.54 and a beta of 0.54.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.44. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. The company had revenue of $637.18 million for the quarter, compared to the consensus estimate of $468.21 million. Research analysts expect that Exelixis will post 1.59 EPS for the current year.

Insider Activity at Exelixis

In related news, EVP Dana Aftab sold 95,000 shares of Exelixis stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total transaction of $2,375,000.00. Following the completion of the transaction, the executive vice president now directly owns 520,990 shares in the company, valued at approximately $13,024,750. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Dana Aftab sold 95,000 shares of Exelixis stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total transaction of $2,375,000.00. Following the completion of the transaction, the executive vice president now directly owns 520,990 shares in the company, valued at approximately $13,024,750. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christopher J. Senner sold 125,000 shares of Exelixis stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $27.19, for a total value of $3,398,750.00. Following the transaction, the chief financial officer now owns 721,680 shares of the company’s stock, valued at approximately $19,622,479.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 327,858 shares of company stock worth $8,640,129. 2.85% of the stock is owned by corporate insiders.

Institutional Trading of Exelixis

Institutional investors and hedge funds have recently made changes to their positions in the business. LSV Asset Management increased its position in shares of Exelixis by 1,651.4% in the first quarter. LSV Asset Management now owns 2,774,707 shares of the biotechnology company’s stock valued at $65,844,000 after buying an additional 2,616,278 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Exelixis by 45.3% in the second quarter. Hsbc Holdings PLC now owns 90,211 shares of the biotechnology company’s stock valued at $2,031,000 after buying an additional 28,126 shares in the last quarter. Farallon Capital Management LLC increased its position in shares of Exelixis by 1.6% in the second quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock valued at $608,993,000 after buying an additional 424,000 shares in the last quarter. Intech Investment Management LLC increased its position in shares of Exelixis by 155.8% in the first quarter. Intech Investment Management LLC now owns 100,039 shares of the biotechnology company’s stock valued at $2,374,000 after buying an additional 60,925 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Exelixis in the first quarter valued at approximately $1,281,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

About Exelixis

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.