UBS Group Issues Positive Forecast for Exelixis (NASDAQ:EXEL) Stock Price

Exelixis (NASDAQ:EXEL) had its price target raised by investment analysts at UBS Group from $30.00 to $34.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the biotechnology company’s stock. UBS Group’s price target points to a potential upside of 3.16% from the stock’s previous close.

A number of other brokerages have also weighed in on EXEL. Guggenheim restated a “buy” rating on shares of Exelixis in a report on Wednesday, January 22nd. Stephens reaffirmed an “equal weight” rating and set a $29.00 price target on shares of Exelixis in a report on Monday. Wells Fargo & Company increased their price objective on Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Piper Sandler upped their price target on Exelixis from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, Oppenheimer cut shares of Exelixis from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $41.00 to $33.00 in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.06.

Exelixis Stock Up 1.1 %

NASDAQ:EXEL opened at $32.96 on Tuesday. The company has a market cap of $9.41 billion, a price-to-earnings ratio of 21.13, a price-to-earnings-growth ratio of 0.72 and a beta of 0.53. The company has a fifty day simple moving average of $34.77 and a two-hundred day simple moving average of $29.99. Exelixis has a 52 week low of $20.01 and a 52 week high of $37.59.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The business had revenue of $539.50 million during the quarter, compared to analysts’ expectations of $490.31 million. During the same quarter last year, the business posted $0.10 EPS. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. On average, analysts expect that Exelixis will post 1.74 EPS for the current year.

Insider Transactions at Exelixis

In other news, Director George Poste sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $34.00, for a total value of $1,020,000.00. Following the completion of the sale, the director now directly owns 169,020 shares of the company’s stock, valued at $5,746,680. This trade represents a 15.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the transaction, the executive vice president now directly owns 486,059 shares in the company, valued at $17,823,783.53. This represents a 10.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 288,574 shares of company stock worth $10,102,874. Company insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Institutional investors and hedge funds have recently made changes to their positions in the stock. Seizert Capital Partners LLC boosted its holdings in Exelixis by 8.0% during the third quarter. Seizert Capital Partners LLC now owns 469,940 shares of the biotechnology company’s stock worth $12,195,000 after buying an additional 34,875 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Exelixis by 124.0% in the 3rd 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. China Universal Asset Management Co. Ltd. increased its stake in Exelixis by 60.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 54,863 shares of the biotechnology company’s stock valued at $1,424,000 after purchasing an additional 20,641 shares in the last quarter. Tri Ri Asset Management Corp acquired a new position in Exelixis during the third quarter worth $4,396,000. Finally, CWA Asset Management Group LLC acquired a new stake in Exelixis in the third quarter valued at $577,000. 85.27% of the stock is owned by institutional investors and hedge funds.

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.