Truist Financial Reiterates $56.00 Price Target for Exelixis (NASDAQ:EXEL)

Truist Financial set a $56.00 target price on Exelixis (NASDAQ:EXEL - Free Report) in a research report released on Tuesday, Marketbeat.com reports. The firm currently has a buy rating on the biotechnology company's stock.

EXEL has been the topic of several other reports. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $50.00 price objective (up from $45.00) on shares of Exelixis in a research report on Tuesday, July 8th. Stephens raised shares of Exelixis from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $29.00 to $60.00 in a research note on Tuesday, June 24th. Wells Fargo & Company reissued a "market outperform" rating on shares of Exelixis in a research report on Thursday, April 17th. UBS Group set a $43.00 price target on shares of Exelixis and gave the company a "neutral" rating in a report on Friday, July 11th. Finally, Stifel Nicolaus increased their price objective on shares of Exelixis from $36.00 to $38.00 and gave the company a "hold" rating in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $45.28.

Exelixis Stock Up 0.1%

NASDAQ:EXEL traded up $0.06 during midday trading on Tuesday, reaching $44.87. The stock had a trading volume of 2,249,128 shares, compared to its average volume of 2,530,833. The firm has a fifty day simple moving average of $43.01 and a two-hundred day simple moving average of $38.33. The stock has a market cap of $12.24 billion, a P/E ratio of 20.40, a P/E/G ratio of 0.90 and a beta of 0.28. Exelixis has a 12-month low of $22.20 and a 12-month high of $49.62.

Insider Buying and Selling

In other news, CMO Amy C. Peterson sold 72,776 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $45.47, for a total transaction of $3,309,124.72. Following the transaction, the chief marketing officer directly owned 465,393 shares of the company's stock, valued at approximately $21,161,419.71. This trade represents a 13.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sue Gail Eckhardt sold 18,838 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $42.74, for a total value of $805,136.12. Following the transaction, the director directly owned 21,380 shares in the company, valued at $913,781.20. This trade represents a 46.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 458,113 shares of company stock valued at $21,024,817 in the last three months. 2.82% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EXEL. Byrne Asset Management LLC raised its position in Exelixis by 129.0% in the second quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company's stock worth $31,000 after acquiring an additional 400 shares in the last quarter. Coppell Advisory Solutions LLC purchased a new position in Exelixis during the 4th quarter valued at about $25,000. Family Legacy Financial Solutions LLC bought a new stake in shares of Exelixis in the 2nd quarter valued at approximately $33,000. Hemington Wealth Management grew its stake in shares of Exelixis by 211.3% in the 1st quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company's stock valued at $28,000 after buying an additional 522 shares in the last quarter. Finally, Colonial Trust Co SC grew its stake in shares of Exelixis by 616.9% in the 4th quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock valued at $30,000 after buying an additional 765 shares in the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

About Exelixis

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.