Exelixis (NASDAQ:EXEL) Price Target Raised to $56.00 at Citigroup

by · The Cerbat Gem

Exelixis (NASDAQ:EXEL – Free Report) had its target price raised by Citigroup from $45.00 to $56.00 in a research report report published on Thursday,Benzinga reports. Citigroup currently has a buy rating on the biotechnology company’s stock.

Several other equities research analysts have also recently commented on EXEL. Stephens reiterated an “equal weight” rating and issued a $29.00 price target on shares of Exelixis in a research report on Wednesday, February 12th. JMP Securities reissued a “market outperform” rating and set a $41.00 target price on shares of Exelixis in a research note on Thursday, April 17th. Barclays lifted their target price on shares of Exelixis from $25.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, February 13th. HC Wainwright reiterated a “buy” rating and issued a $40.00 price objective on shares of Exelixis in a research note on Thursday, March 27th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $40.00 target price on shares of Exelixis in a research note on Wednesday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Exelixis presently has a consensus rating of “Moderate Buy” and an average target price of $38.76.

Read Our Latest Stock Report on Exelixis

Exelixis Stock Up 3.6%

Shares of NASDAQ:EXEL opened at $46.26 on Thursday. The company’s 50-day moving average price is $37.06 and its 200 day moving average price is $35.68. The company has a market cap of $12.75 billion, a PE ratio of 26.14, a P/E/G ratio of 1.13 and a beta of 0.25. Exelixis has a fifty-two week low of $20.14 and a fifty-two week high of $48.85.

Exelixis (NASDAQ:EXEL – Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. As a group, equities analysts anticipate that Exelixis will post 2.04 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Christopher J. Senner sold 29,314 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $36.14, for a total transaction of $1,059,407.96. Following the completion of the sale, the chief financial officer now owns 779,607 shares of the company’s stock, valued at approximately $28,174,996.98. This trade represents a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Patrick J. Haley sold 52,636 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $36.98, for a total value of $1,946,479.28. Following the completion of the transaction, the executive vice president now directly owns 303,310 shares in the company, valued at $11,216,403.80. The trade was a 14.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 129,641 shares of company stock worth $4,810,161 over the last three months. 2.82% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Exelixis

Several institutional investors have recently bought and sold shares of EXEL. Coppell Advisory Solutions LLC acquired a new stake in shares of Exelixis in the fourth quarter valued at $25,000. Hemington Wealth Management grew its holdings in 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 acquiring an additional 522 shares during the last quarter. Colonial Trust Co SC increased its position in 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 acquiring an additional 765 shares in the last quarter. USA Financial Formulas bought a new position in shares of Exelixis in the fourth quarter worth about $32,000. Finally, Principal Securities Inc. grew its stake in shares of Exelixis by 62.8% during the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 373 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Exelixis Company Profile

(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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