Exelixis (NASDAQ:EXEL - Get Free Report) had its price objective hoisted by Bank of America from $45.00 to $46.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the biotechnology company's stock. Bank of America's price target would indicate a potential upside of 6.90% from the stock's previous close.
Several other brokerages have also issued reports on EXEL. Citigroup raised their price target on shares of Exelixis from $45.00 to $56.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Wells Fargo & Company restated a "market outperform" rating on shares of Exelixis in a research note on Thursday, April 17th. Barclays raised their price objective on shares of Exelixis from $25.00 to $29.00 and gave the stock an "equal weight" rating in a report on Thursday, February 13th. Piper Sandler raised their price objective on shares of Exelixis from $37.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $40.00 price objective on shares of Exelixis in a report on Wednesday, May 14th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $39.35.
Read Our Latest Analysis on EXEL
Exelixis Stock Performance
NASDAQ:EXEL traded up $0.66 on Thursday, hitting $43.03. The stock had a trading volume of 2,336,895 shares, compared to its average volume of 2,334,819. The stock has a market cap of $11.73 billion, a P/E ratio of 24.31, a price-to-earnings-growth 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's fifty day simple moving average is $39.03 and its two-hundred day simple moving average is $36.64.
Insider Buying and Selling
In other news, EVP Patrick J. Haley sold 126,383 shares of the company's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $47.96, for a total transaction of $6,061,328.68. Following the transaction, the executive vice president now directly owns 446,459 shares of the company's stock, valued at approximately $21,412,173.64. This represents a 22.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Christopher J. Senner sold 100,000 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $46.00, for a total value of $4,600,000.00. Following the transaction, the chief financial officer now directly owns 967,842 shares in the company, valued at approximately $44,520,732. The trade was a 9.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 458,113 shares of company stock valued at $21,024,817 over the last 90 days. Corporate insiders own 2.85% of the company's stock.
Hedge Funds Weigh In On Exelixis
Several hedge funds have recently made changes to their positions in EXEL. Vanguard Group Inc. boosted its holdings in Exelixis by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 29,429,252 shares of the biotechnology company's stock valued at $979,994,000 after purchasing an additional 121,750 shares during the last quarter. LSV Asset Management boosted its holdings in Exelixis by 0.8% in the fourth quarter. LSV Asset Management now owns 8,169,847 shares of the biotechnology company's stock valued at $272,056,000 after purchasing an additional 67,470 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in Exelixis by 2.2% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 7,795,074 shares of the biotechnology company's stock valued at $287,794,000 after purchasing an additional 164,134 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Exelixis by 73.8% in the first quarter. AQR Capital Management LLC now owns 6,893,889 shares of the biotechnology company's stock valued at $250,869,000 after purchasing an additional 2,926,884 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Exelixis by 40.2% in the first quarter. Invesco Ltd. now owns 5,572,189 shares of the biotechnology company's stock valued at $205,725,000 after purchasing an additional 1,596,948 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.
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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