Exelixis (NASDAQ:EXEL) Given Sector Perform Rating at Royal Bank Of Canada

Exelixis (NASDAQ:EXEL - Get Free Report)'s stock had its "sector perform" rating reaffirmed by stock analysts at Royal Bank Of Canada in a research report issued to clients and investors on Tuesday, Marketbeat reports. They presently have a $50.00 price target on the biotechnology company's stock, up from their previous price target of $45.00. Royal Bank Of Canada's price objective indicates a potential upside of 11.46% from the company's current price.

EXEL has been the subject of a number of other research reports. Jefferies Financial Group set a $50.00 price objective on Exelixis and gave the stock a "buy" rating in a research note on Tuesday, June 24th. Morgan Stanley reiterated an "overweight" rating and set a $47.00 target price (up previously from $40.00) on shares of Exelixis in a research report on Wednesday, May 14th. Wall Street Zen cut Exelixis from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 15th. Truist Financial reiterated a "buy" rating and set a $55.00 target price (up previously from $43.00) on shares of Exelixis in a research report on Monday, June 23rd. Finally, Benchmark reiterated a "neutral" rating on shares of Exelixis in a research report on Monday, June 23rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $44.72.

Exelixis Trading Down 0.7%

Exelixis stock traded down $0.31 during mid-day trading on Tuesday, hitting $44.86. The stock had a trading volume of 2,063,340 shares, compared to its average volume of 2,521,006. Exelixis has a one year low of $22.20 and a one year high of $49.62. The firm has a market capitalization of $12.23 billion, a P/E ratio of 20.39, a P/E/G ratio of 0.91 and a beta of 0.28. The firm's 50 day moving average is $42.42 and its 200 day moving average is $38.03.

Insider Buying and Selling at Exelixis

In other news, CMO Amy C. Peterson sold 72,776 shares of Exelixis stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $45.47, for a total value of $3,309,124.72. Following the completion of the transaction, the chief marketing officer owned 465,393 shares in the company, valued at approximately $21,161,419.71. The trade was a 13.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stelios Papadopoulos sold 36,508 shares of Exelixis stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $44.35, for a total value of $1,619,129.80. Following the completion of the transaction, the director owned 1,279,416 shares of the company's stock, valued at approximately $56,742,099.60. This trade represents a 2.77% 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 three months. 2.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On Exelixis

A number of institutional investors and hedge funds have recently modified their holdings of EXEL. Steward Partners Investment Advisory LLC boosted its holdings in shares of Exelixis by 4.9% in 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 during the period. Proficio Capital Partners LLC purchased a new position in shares of Exelixis in the 4th quarter worth approximately $706,000. Raymond James Financial Inc. purchased a new position in shares of Exelixis in the 4th quarter worth approximately $17,046,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Exelixis in the 4th quarter worth approximately $240,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Exelixis by 5.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,447 shares of the biotechnology company's stock worth $2,113,000 after purchasing an additional 3,349 shares during the period. Hedge funds and other 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.