Exelixis (NASDAQ:EXEL) Stock Price Expected to Rise, JMP Securities Analyst Says

Exelixis (NASDAQ:EXEL - Free Report) had its target price boosted by JMP Securities from $47.00 to $50.00 in a report issued on Monday morning,Benzinga reports. They currently have a market outperform rating on the biotechnology company's stock.

Other equities analysts have also recently issued reports about the company. Bank of America upped their price objective on Exelixis from $45.00 to $46.00 and gave the stock a "neutral" rating in a report on Thursday, June 5th. Royal Bank Of Canada reissued an "outperform" rating and set a $40.00 price objective on shares of Exelixis in a research report on Wednesday, May 14th. Wall Street Zen lowered Exelixis from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 15th. Stifel Nicolaus raised their price target on Exelixis from $36.00 to $38.00 and gave the company a "hold" rating in a report on Wednesday, May 14th. Finally, UBS Group reaffirmed an "underperform" rating on shares of Exelixis in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Exelixis has a consensus rating of "Moderate Buy" and an average price target of $42.82.

Exelixis Stock Up 5.4%

Shares of EXEL stock traded up $2.35 during trading on Monday, hitting $45.72. The company had a trading volume of 6,331,327 shares, compared to its average volume of 2,945,999. The stock's 50-day moving average is $40.45 and its two-hundred day moving average is $37.11. The stock has a market capitalization of $12.47 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 0.82 and a beta of 0.28. Exelixis has a 52 week low of $21.82 and a 52 week high of $49.62.

Insider Buying and Selling

In related news, CFO Christopher J. Senner sold 100,000 shares of Exelixis 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dana Aftab sold 1,508 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $39.00, for a total transaction of $58,812.00. Following the sale, the executive vice president now owns 693,181 shares of the company's stock, valued at approximately $27,034,059. This represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 458,113 shares of company stock valued at $21,024,817 over the last quarter. Company insiders own 2.82% of the company's stock.

Institutional Trading of Exelixis

A number of hedge funds and other institutional investors have recently made changes to their positions in EXEL. Frank Rimerman Advisors LLC lifted its position in shares of Exelixis by 4.7% in the 1st quarter. Frank Rimerman Advisors LLC now owns 6,342 shares of the biotechnology company's stock worth $234,000 after buying an additional 285 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Exelixis by 6.1% during the 1st quarter. Farther Finance Advisors LLC now owns 5,372 shares of the biotechnology company's stock valued at $195,000 after purchasing an additional 307 shares during the period. Balyasny Asset Management L.P. increased its stake in Exelixis by 1.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 17,203 shares of the biotechnology company's stock valued at $573,000 after buying an additional 317 shares during the period. Steward Partners Investment Advisory LLC boosted its position in Exelixis by 4.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,050 shares of the biotechnology company's stock valued at $235,000 after purchasing an additional 330 shares during the last quarter. Finally, Rathbones Group PLC lifted its stake in Exelixis by 5.3% in the first quarter. Rathbones Group PLC now owns 6,847 shares of the biotechnology company's stock valued at $253,000 after acquiring an additional 347 shares during the last quarter. 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.