HC Wainwright Issues Positive Forecast for Exelixis (NASDAQ:EXEL) Stock Price

Exelixis (NASDAQ:EXEL - Get Free Report) had its price target boosted by HC Wainwright from $47.00 to $53.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the biotechnology company's stock. HC Wainwright's price objective indicates a potential upside of 19.64% from the stock's previous close.

EXEL has been the subject of several other research reports. Royal Bank Of Canada restated an "outperform" rating and set a $40.00 price target on shares of Exelixis in a research report on Wednesday, May 14th. Stifel Nicolaus increased their price objective on Exelixis from $36.00 to $38.00 and gave the company a "hold" rating in a research report on Wednesday, May 14th. Benchmark reiterated a "neutral" rating on shares of Exelixis in a report on Monday, June 23rd. Wall Street Zen cut Exelixis from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 15th. Finally, Bank of America boosted their price target on shares of Exelixis from $45.00 to $46.00 and gave the company a "neutral" rating in a report on Thursday, June 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $43.56.

Exelixis Trading Up 1.6%

EXEL traded up $0.68 on Monday, hitting $44.30. 3,070,941 shares of the company's stock were exchanged, compared to its average volume of 2,467,851. The firm has a market cap of $12.08 billion, a PE ratio of 20.14, a P/E/G ratio of 0.88 and a beta of 0.28. Exelixis has a twelve month low of $21.82 and a twelve month high of $49.62. The stock has a fifty day moving average of $41.54 and a two-hundred day moving average of $37.51.

Insider Activity at Exelixis

In related news, Director Tomas J. Heyman sold 4,544 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $44.29, for a total value of $201,253.76. Following the transaction, the director owned 32,470 shares in the company, valued at approximately $1,438,096.30. This represents a 12.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sue Gail Eckhardt sold 18,838 shares of the 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 transaction, the director owned 21,380 shares in the company, valued at approximately $913,781.20. This trade represents a 46.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 458,113 shares of company stock worth $21,024,817 in the last quarter. 2.82% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in EXEL. Coppell Advisory Solutions LLC acquired a new stake in Exelixis during the fourth quarter worth approximately $25,000. Hemington Wealth Management increased its position 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 period. Colonial Trust Co SC raised its stake in Exelixis by 616.9% in the fourth quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock valued at $30,000 after purchasing an additional 765 shares in the last quarter. Bartlett & CO. Wealth Management LLC acquired a new position in Exelixis in the first quarter valued at about $37,000. Finally, Costello Asset Management INC bought a new stake in Exelixis during the first quarter worth about $39,000. 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.