Analysts Set Exelixis, Inc. (NASDAQ:EXEL) Target Price at $38.94

Shares of Exelixis, Inc. (NASDAQ:EXEL - Get Free Report) have been assigned an average recommendation of "Hold" from the nineteen research firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $39.35.

Several brokerages recently commented on EXEL. Royal Bank of Canada reiterated an "outperform" rating and set a $40.00 target price on shares of Exelixis in a report on Wednesday, May 14th. Piper Sandler raised their target price on Exelixis from $37.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Morgan Stanley restated an "overweight" rating and set a $47.00 price objective (up previously from $40.00) on shares of Exelixis in a research note on Wednesday, May 14th. Citigroup raised their price objective on Exelixis from $45.00 to $56.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, UBS Group restated an "underperform" rating on shares of Exelixis in a research note on Thursday, April 17th.

Exelixis Trading Up 1.6%

Shares of Exelixis stock traded up $0.66 during trading hours on Wednesday, reaching $43.03. The stock had a trading volume of 2,336,895 shares, compared to its average volume of 2,334,819. The firm has a market capitalization of $11.73 billion, a price-to-earnings ratio of 24.31, a P/E/G ratio of 1.13 and a beta of 0.28. Exelixis has a 1 year low of $21.36 and a 1 year high of $48.85. The firm has a 50 day simple moving average of $39.03 and a two-hundred day simple moving average of $36.64.

Insider Buying and Selling

In other Exelixis news, CFO Christopher J. Senner sold 100,000 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $46.00, for a total value of $4,600,000.00. Following the sale, the chief financial officer now owns 967,842 shares in the company, valued at approximately $44,520,732. This trade represents a 9.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Patrick J. Haley sold 126,383 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $47.96, for a total transaction of $6,061,328.68. Following the completion of the sale, the executive vice president now owns 446,459 shares in the company, valued at $21,412,173.64. The trade was a 22.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 458,113 shares of company stock worth $21,024,817 over the last quarter. 2.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On Exelixis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Modern Wealth Management LLC bought a new position in Exelixis during the 1st quarter valued at $251,000. Strs Ohio bought a new position in Exelixis during the 1st quarter valued at $2,267,000. Ellsworth Advisors LLC bought a new position in Exelixis during the 1st quarter valued at $3,589,000. Geneos Wealth Management Inc. boosted its stake in Exelixis by 134.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company's stock valued at $61,000 after purchasing an additional 944 shares in the last quarter. Finally, Belpointe Asset Management LLC bought a new position in Exelixis during the 1st quarter valued at $572,000. Institutional investors own 85.27% of the company's stock.

Exelixis Company Profile

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.