Guggenheim Forecasts Strong Price Appreciation for Exelixis (NASDAQ:EXEL) Stock

Exelixis (NASDAQ:EXEL) had its price objective lifted by analysts at Guggenheim from $33.00 to $42.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Guggenheim’s price target points to a potential upside of 21.74% from the stock’s current price.

A number of other equities research analysts have also weighed in on EXEL. Morgan Stanley boosted their target price on Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. TD Cowen increased their price objective on Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Stifel Nicolaus raised their target price on shares of Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. The Goldman Sachs Group upgraded shares of Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $34.00 price target on shares of Exelixis in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.00.

Exelixis Stock Up 0.8 %

NASDAQ:EXEL opened at $34.50 on Tuesday. The stock has a market cap of $9.85 billion, a P/E ratio of 22.12, a PEG ratio of 0.88 and a beta of 0.52. The business’s 50-day moving average price is $34.82 and its two-hundred day moving average price is $28.67. Exelixis has a twelve month low of $20.01 and a twelve month high of $36.97.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $539.50 million for the quarter, compared to the consensus estimate of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter last year, the business posted $0.10 earnings per share. On average, equities research analysts expect that Exelixis will post 1.69 EPS for the current fiscal year.

Insider Activity at Exelixis

In other Exelixis news, EVP Jeffrey Hessekiel sold 25,000 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $28.39, for a total transaction of $709,750.00. Following the completion of the sale, the executive vice president now directly owns 580,325 shares in the company, valued at approximately $16,475,426.75. The trade was a 4.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dana Aftab sold 96,986 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $35.00, for a total value of $3,394,510.00. Following the completion of the transaction, the executive vice president now owns 498,945 shares in the company, valued at approximately $17,463,075. This trade represents a 16.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 314,736 shares of company stock valued at $10,849,110 over the last ninety days. Insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of EXEL. Hsbc Holdings PLC increased its position in shares of Exelixis by 45.3% during the 2nd quarter. Hsbc Holdings PLC now owns 90,211 shares of the biotechnology company’s stock valued at $2,031,000 after purchasing an additional 28,126 shares during the last quarter. Farallon Capital Management LLC increased its holdings in Exelixis by 1.6% during the second quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock valued at $608,993,000 after buying an additional 424,000 shares during the last quarter. Seizert Capital Partners LLC raised its position in Exelixis by 8.0% in the third quarter. Seizert Capital Partners LLC now owns 469,940 shares of the biotechnology company’s stock worth $12,195,000 after acquiring an additional 34,875 shares during the period. Los Angeles Capital Management LLC raised its position in Exelixis by 124.0% in the third quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock worth $46,473,000 after acquiring an additional 991,494 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of Exelixis by 60.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 54,863 shares of the biotechnology company’s stock worth $1,424,000 after acquiring an additional 20,641 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

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.