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Exelixis (NASDAQ:EXEL) Given New $40.00 Price Target at Barclays

Exelixis logo with Medical background

Exelixis (NASDAQ:EXEL - Free Report) had its price objective hoisted by Barclays from $29.00 to $40.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the biotechnology company's stock.

A number of other analysts have also recently issued reports on the company. HC Wainwright upped their target price on Exelixis from $47.00 to $53.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Stifel Nicolaus increased their price objective on Exelixis from $36.00 to $38.00 and gave the stock a "hold" rating 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. Stephens raised Exelixis from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $29.00 to $60.00 in a research report on Tuesday, June 24th. Finally, Guggenheim set a $45.00 price objective on Exelixis and gave the stock a "buy" rating in a research report on Thursday, May 15th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $44.72.

Read Our Latest Stock Analysis on EXEL

Exelixis Price Performance

Shares of EXEL traded up $1.10 during mid-day trading on Thursday, reaching $45.17. The company's stock had a trading volume of 2,005,077 shares, compared to its average volume of 2,517,822. Exelixis has a 12-month low of $22.13 and a 12-month high of $49.62. The stock has a market cap of $12.32 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 0.88 and a beta of 0.28. The company's 50 day moving average is $42.32 and its 200 day moving average is $37.95.

Insiders Place Their Bets

In related news, Director Sue Gail Eckhardt sold 18,838 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $42.74, for a total value of $805,136.12. Following the completion of the transaction, the director directly owned 21,380 shares of the company's stock, valued at $913,781.20. This trade represents a 46.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Amy C. Peterson sold 72,776 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were 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 directly owned 465,393 shares of the company's stock, valued at $21,161,419.71. The trade was a 13.52% 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 worth $21,024,817. Corporate insiders own 2.82% of the company's stock.

Hedge Funds Weigh In On Exelixis

Several hedge funds have recently bought and sold shares of EXEL. Coppell Advisory Solutions LLC purchased a new position in Exelixis in the 4th quarter valued at approximately $25,000. Hemington Wealth Management increased its position in Exelixis by 211.3% during the first quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company's stock worth $28,000 after buying an additional 522 shares in the last quarter. Colonial Trust Co SC increased its position 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 buying an additional 765 shares in the last quarter. Byrne Asset Management LLC increased its position 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 buying an additional 400 shares in the last quarter. Finally, Family Legacy Financial Solutions LLC purchased a new position in Exelixis during the second quarter worth $33,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

About Exelixis

(Get Free Report)

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.

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Analyst Recommendations for Exelixis (NASDAQ:EXEL)

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