Stifel Nicolaus Boosts Exelixis (NASDAQ:EXEL) Price Target to $23.00

Exelixis (NASDAQ:EXEL) had its price target lifted by Stifel Nicolaus from $22.00 to $23.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. They currently have a hold rating on the biotechnology company’s stock.

EXEL has been the subject of several other reports. Zacks Investment Research upgraded shares of Exelixis from a hold rating to a strong-buy rating and set a $26.00 target price for the company in a research report on Tuesday, April 16th. Morgan Stanley set a $27.00 target price on shares of Exelixis and gave the stock a hold rating in a research report on Thursday, May 2nd. Cowen set a $25.00 target price on shares of Exelixis and gave the stock a buy rating in a research report on Monday, July 15th. ValuEngine lowered shares of Exelixis from a hold rating to a sell rating in a research report on Wednesday, July 24th. Finally, BidaskClub upgraded shares of Exelixis from a sell rating to a hold rating in a research report on Friday, July 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $28.13.

NASDAQ:EXEL traded down $0.60 during midday trading on Thursday, hitting $19.79. The company had a trading volume of 2,561,800 shares, compared to its average volume of 2,191,895. Exelixis has a 52-week low of $13.42 and a 52-week high of $25.31. The stock has a fifty day simple moving average of $21.03. The firm has a market cap of $6.18 billion, a P/E ratio of 13.84, a PEG ratio of 0.49 and a beta of 1.98. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.64 and a quick ratio of 7.48.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Wednesday, July 31st. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.02. Exelixis had a net margin of 70.52% and a return on equity of 31.31%. The company had revenue of $240.28 million during the quarter, compared to analyst estimates of $226.97 million. During the same period in the previous year, the business earned $0.31 earnings per share. The firm’s quarterly revenue was up 29.1% compared to the same quarter last year. On average, sell-side analysts predict that Exelixis will post 0.88 earnings per share for the current year.

In other news, insider Michael Morrissey sold 42,000 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $20.15, for a total transaction of $846,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Lamb sold 27,596 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $20.03, for a total transaction of $552,747.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 564,482 shares of company stock valued at $11,613,097. Company insiders own 4.50% of the company’s stock.

Several large investors have recently modified their holdings of EXEL. Advisor Group Inc. raised its stake in shares of Exelixis by 25.4% during the fourth quarter. Advisor Group Inc. now owns 7,791 shares of the biotechnology company’s stock valued at $153,000 after acquiring an additional 1,576 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Exelixis by 11.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,381,432 shares of the biotechnology company’s stock valued at $27,172,000 after acquiring an additional 144,741 shares during the last quarter. Two Sigma Advisers LP bought a new position in shares of Exelixis during the fourth quarter valued at about $229,000. Amundi Pioneer Asset Management Inc. raised its stake in shares of Exelixis by 181.7% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 62,460 shares of the biotechnology company’s stock valued at $1,228,000 after acquiring an additional 40,291 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Exelixis by 5.7% during the fourth quarter. Legal & General Group Plc now owns 345,180 shares of the biotechnology company’s stock valued at $6,790,000 after acquiring an additional 18,567 shares during the last quarter. 78.15% of the stock is owned by hedge funds and other institutional investors.

Exelixis Company Profile

Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. The company's products include 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 patients with progressive and metastatic medullary thyroid cancer.

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Analyst Recommendations for Exelixis (NASDAQ:EXEL)

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