Exelixis (NASDAQ:EXEL) Price Target Raised to $45.00 at Citigroup

Exelixis (NASDAQ:EXEL) had its price objective increased by Citigroup from $38.00 to $45.00 in a report released on Wednesday,Benzinga reports. Citigroup currently has a buy rating on the biotechnology company’s stock.

A number of other research firms have also recently issued reports on EXEL. Piper Sandler boosted their price objective on Exelixis from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday. BMO Capital Markets downgraded shares of Exelixis from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $36.00 to $40.00 in a report on Friday, December 20th. Truist Financial upped their target price on shares of Exelixis from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Brookline Capital Management began coverage on shares of Exelixis in a research note on Monday, December 23rd. They set a “buy” rating for the company. Finally, Guggenheim restated a “buy” rating and set a $42.00 target price on shares of Exelixis in a research report on Wednesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Exelixis currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Exelixis Stock Down 0.0 %

Shares of Exelixis stock opened at $32.80 on Wednesday. The stock has a 50 day moving average price of $34.24 and a two-hundred day moving average price of $30.72. Exelixis has a 12-month low of $20.14 and a 12-month high of $37.59. The stock has a market capitalization of $9.37 billion, a P/E ratio of 21.03, a PEG ratio of 0.63 and a beta of 0.53.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a net margin of 22.43% and a return on equity of 20.99%. Sell-side analysts anticipate that Exelixis will post 1.74 earnings per share for the current year.

Insider Buying and Selling at Exelixis

In related news, EVP Jeffrey Hessekiel sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the transaction, the executive vice president now directly owns 486,059 shares in the company, valued at approximately $17,823,783.53. The trade was a 10.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Patrick J. Haley sold 10,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $35.27, for a total transaction of $352,700.00. Following the sale, the executive vice president now owns 278,665 shares in the company, valued at approximately $9,828,514.55. The trade was a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,588 shares of company stock valued at $3,981,864. 2.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Exelixis

Institutional investors and hedge funds have recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Exelixis by 18.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,890 shares of the biotechnology company’s stock worth $63,000 after acquiring an additional 290 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Exelixis by 4.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,050 shares of the biotechnology company’s stock worth $235,000 after purchasing an additional 330 shares in the last quarter. Covestor Ltd boosted its stake in shares of Exelixis by 5.7% in the third quarter. Covestor Ltd now owns 6,335 shares of the biotechnology company’s stock valued at $164,000 after buying an additional 341 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in Exelixis by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 58,159 shares of the biotechnology company’s stock valued at $1,937,000 after acquiring an additional 354 shares in the last quarter. Finally, Principal Securities Inc. lifted 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. 85.27% of the stock is owned by 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.