Exelixis, Inc. (NASDAQ:EXEL) Stock Has Average Price Target of $50.79 According to Analysts

Key Points

• Analysts maintain a “Hold” consensus on Exelixis, with 12 hold, six buy, one strong-buy and one sell rating. The average 12-month price target is $50.79, below the stock’s reported Friday price of $62.23.
• Exelixis reported quarterly EPS of $0.91, beating estimates of $0.85, while revenue rose 10.6% year over year to $628.69 million but fell short of the $636.40 million consensus.
• Institutional investors own approximately 85.27% of the stock, while director Mary Beckerle sold 9,812 shares under a pre-arranged trading plan; insiders retain 2.60% ownership.

Exelixis, Inc. (NASDAQ:EXEL - Get Free Report) has earned an average rating of "Hold" from the twenty ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $50.79.

Several equities analysts recently weighed in on the stock. HC Wainwright restated a "buy" rating and set a $56.00 target price on shares of Exelixis in a report on Thursday, July 2nd. Stifel Nicolaus increased their price objective on shares of Exelixis from $47.00 to $51.00 and gave the company a "hold" rating in a research note on Thursday, August 6th. Barclays boosted their price target on Exelixis from $45.00 to $49.00 and gave the company an "equal weight" rating in a report on Tuesday, July 14th. Wall Street Zen lowered Exelixis from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Leerink Partners cut Exelixis from an "outperform" rating to a "market perform" rating and set a $52.00 price objective on the stock. in a research note on Thursday, August 6th.

Exelixis Trading Down 1.0%

Shares of NASDAQ EXEL traded down $0.60 on Friday, reaching $62.23. 2,637,281 shares of the company traded hands, compared to its average volume of 2,404,932. Exelixis has a fifty-two week low of $33.76 and a fifty-two week high of $63.39. The company has a 50 day moving average of $56.89 and a 200 day moving average of $52.88. The stock has a market capitalization of $15.42 billion, a PE ratio of 19.57, a P/E/G ratio of 1.76 and a beta of 0.47.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.06. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The company had revenue of $628.69 million for the quarter, compared to the consensus estimate of $636.40 million. During the same quarter last year, the firm posted $0.75 earnings per share. Exelixis's revenue was up 10.6% on a year-over-year basis. As a group, research analysts expect that Exelixis will post 3.19 earnings per share for the current year.

Insiders Place Their Bets

In other Exelixis news, Director Mary Beckerle sold 9,812 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $53.66, for a total transaction of $526,511.92. Following the sale, the director directly owned 16,079 shares of the company's stock, valued at approximately $862,799.14. This represents a 37.90% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Annex Advisory Services LLC grew its position in shares of Exelixis by 14.1% during the 3rd quarter. Annex Advisory Services LLC now owns 29,572 shares of the biotechnology company's stock valued at $1,727,000 after buying an additional 3,654 shares during the last quarter. Goldstein Advisors LLC bought a new position in Exelixis in the third quarter worth about $225,000. Milestone Asset Management LLC lifted its holdings in Exelixis by 581.0% in the third quarter. Milestone Asset Management LLC now owns 200,127 shares of the biotechnology company's stock worth $11,689,000 after acquiring an additional 170,738 shares during the last quarter. Davidson Capital Management Inc. boosted its stake in Exelixis by 0.8% in the third quarter. Davidson Capital Management Inc. now owns 127,973 shares of the biotechnology company's stock valued at $7,475,000 after acquiring an additional 1,010 shares during the period. Finally, Brindle & Bay Financial Advisors LLC boosted its stake in Exelixis by 8.0% in the third quarter. Brindle & Bay Financial Advisors LLC now owns 4,105 shares of the biotechnology company's stock valued at $240,000 after acquiring an additional 305 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

About Exelixis

Exelixis, Inc is a biopharmaceutical company focused on discovering, developing, and commercializing medicines for cancer. The company's research and development activities are centered primarily on targeted therapies and other treatments for solid tumors.

Exelixis' principal product is cabozantinib, marketed in the United States as CABOMETYX tablets for certain patients with renal cell carcinoma, hepatocellular carcinoma, and differentiated thyroid cancer. The company also markets COMETRIQ, a cabozantinib formulation approved in the United States for progressive or metastatic medullary thyroid cancer.

Exelixis was founded in 1994 and is headquartered in Alameda, California.

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