Exelixis, Inc. (NASDAQ:EXEL - Get Free Report) gapped up before the market opened on Monday after Stephens upgraded the stock from an equal weight rating to an overweight rating. The stock had previously closed at $40.37, but opened at $49.43. Stephens now has a $60.00 price target on the stock, up from their previous price target of $29.00. Exelixis shares last traded at $45.11, with a volume of 3,122,472 shares traded.
Several other equities research analysts have also commented on EXEL. Wells Fargo & Company reiterated a "market outperform" rating on shares of Exelixis in a research note on Thursday, April 17th. Citigroup raised their price objective on Exelixis from $45.00 to $56.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. UBS Group reissued an "underperform" rating on shares of Exelixis in a report on Thursday, April 17th. Wall Street Zen cut Exelixis from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 15th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $40.00 price objective on shares of Exelixis in a research note on Wednesday, May 14th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $43.22.
Read Our Latest Stock Analysis on EXEL
Insider Transactions at Exelixis
In other news, Director Jack L. Wyszomierski sold 7,535 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $43.09, for a total transaction of $324,683.15. Following the completion of the transaction, the director now directly owns 358,882 shares of the company's stock, valued at approximately $15,464,225.38. This represents a 2.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Dana Aftab sold 1,508 shares of Exelixis stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $39.00, for a total value of $58,812.00. Following the completion of the sale, the executive vice president now owns 693,181 shares in the company, valued at approximately $27,034,059. This trade represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 458,113 shares of company stock worth $21,024,817. Company insiders own 2.82% of the company's stock.
Hedge Funds Weigh In On Exelixis
A number of large investors have recently made changes to their positions in the stock. Coppell Advisory Solutions LLC acquired a new position in Exelixis during the fourth quarter worth about $25,000. Hemington Wealth Management raised its position in shares of Exelixis by 211.3% during the 1st 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 raised its position in shares of Exelixis by 616.9% during the 4th quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock worth $30,000 after purchasing an additional 765 shares during the last quarter. Principal Securities Inc. lifted its stake in Exelixis by 62.8% in the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company's stock valued at $32,000 after buying an additional 373 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC acquired a new stake in Exelixis during the 1st quarter valued at $37,000. Hedge funds and other institutional investors own 85.27% of the company's stock.
Exelixis Price Performance
The company has a market cap of $11.75 billion, a PE ratio of 19.59, a P/E/G ratio of 0.87 and a beta of 0.28. The firm has a 50-day simple moving average of $40.78 and a two-hundred day simple moving average of $37.21.
About Exelixis
(
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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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