Exelixis (NASDAQ:EXEL) PT Set at $43.00 by UBS Group

UBS Group set a $43.00 price objective on Exelixis (NASDAQ:EXEL - Free Report) in a research note issued to investors on Friday morning, Marketbeat.com reports. The brokerage currently has a neutral rating on the biotechnology company's stock.

EXEL has been the topic of a number of other reports. Stephens upgraded Exelixis from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $29.00 to $60.00 in a research note on Tuesday, June 24th. Bank of America raised their price target on Exelixis from $45.00 to $46.00 and gave the stock a "neutral" rating in a research note on Thursday, June 5th. Citigroup raised their price target on Exelixis from $45.00 to $56.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. HC Wainwright raised their price target on Exelixis from $47.00 to $53.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Finally, Barclays raised their price target on Exelixis from $29.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, Exelixis presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.28.

Exelixis Stock Up 0.1%

Shares of Exelixis stock traded up $0.06 on Friday, reaching $44.87. The company's stock had a trading volume of 2,249,128 shares, compared to its average volume of 2,530,833. The company has a market capitalization of $12.24 billion, a price-to-earnings ratio of 20.40, a P/E/G ratio of 0.90 and a beta of 0.28. The firm's fifty day simple moving average is $43.01 and its two-hundred day simple moving average is $38.33. Exelixis has a 52 week low of $22.20 and a 52 week high of $49.62.

Insiders Place Their Bets

In other news, CMO Amy C. Peterson sold 72,776 shares of Exelixis stock in a transaction dated 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 sale, the chief marketing officer directly owned 465,393 shares of the company's stock, valued at approximately $21,161,419.71. The trade was a 13.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stelios Papadopoulos sold 36,508 shares of Exelixis stock in a transaction dated 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 sale, the director directly owned 1,279,416 shares in the company, valued at $56,742,099.60. This trade represents a 2.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 458,113 shares of company stock valued at $21,024,817. Insiders own 2.82% of the company's stock.

Institutional Investors Weigh In On Exelixis

Large investors have recently made changes to their positions in the company. Coppell Advisory Solutions LLC bought a new stake in shares of Exelixis in the fourth quarter worth about $25,000. Hemington Wealth Management increased its holdings in shares of Exelixis by 211.3% in the first quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company's stock worth $28,000 after purchasing an additional 522 shares during the last quarter. Colonial Trust Co SC increased its stake in Exelixis by 616.9% during the fourth quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock worth $30,000 after acquiring an additional 765 shares during the last quarter. Byrne Asset Management LLC increased its stake in Exelixis by 129.0% during the second quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company's stock worth $31,000 after acquiring an additional 400 shares during the last quarter. Finally, Family Legacy Financial Solutions LLC bought a new stake in Exelixis during the second quarter worth approximately $33,000. 85.27% of the stock is owned by institutional investors.

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.