Exelixis, Inc. (NASDAQ:EXEL) Stock Has Consensus Price Target of $50.79

Shares of Exelixis, Inc. (NASDAQ:EXEL) have been given a consensus recommendation of “Hold” by the twenty analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $51.50.

A number of brokerages have recently commented on EXEL. William Blair reissued an “outperform” rating on shares of Exelixis in a research report on Friday, September 11th. Morgan Stanley raised their target price on shares of Exelixis from $50.00 to $53.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. HC Wainwright reiterated a “buy” rating and issued a $56.00 price target on shares of Exelixis in a research note on Thursday, July 2nd. Citizens Jmp boosted their price target on shares of Exelixis from $55.00 to $65.00 and gave the stock a “market outperform” rating in a report on Monday, October 19th. Finally, Royal Bank Of Canada increased their price objective on shares of Exelixis from $45.00 to $51.00 and gave the company a “sector perform” rating in a research report on Friday, October 9th.

Exelixis Price Performance

Shares of Exelixis stock opened at $64.53 on Friday. The business has a 50-day moving average of $58.19 and a 200 day moving average of $53.61. Exelixis has a 12 month low of $36.00 and a 12 month high of $65.50. The stock has a market capitalization of $15.99 billion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 1.83 and a beta of 0.47.

Exelixis (NASDAQ:EXEL) last released its earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $628.69 million for the quarter, compared to analyst estimates of $636.40 million. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.75 EPS. Equities research analysts anticipate that Exelixis will post 3.19 earnings per share for the current year.

Insiders Place Their Bets

In other Exelixis news, Director Mary Beckerle sold 9,812 shares of Exelixis stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $53.66, for a total transaction of $526,511.92. Following the completion of the sale, the director directly owned 16,079 shares of the company’s stock, valued at $862,799.14. The trade was a 37.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Exelixis

Hedge funds and other institutional investors have recently made changes to their positions in the business. Arkadios Wealth Advisors acquired a new stake in shares of Exelixis during the 1st quarter valued at approximately $476,000. Corient Private Wealth LP acquired a new stake in shares of Exelixis in the 2nd quarter worth approximately $4,324,000. L2 Asset Management LLC purchased a new position in Exelixis in the 2nd quarter valued at approximately $6,839,000. BlackRock Inc. purchased a new position in Exelixis in the 2nd quarter valued at approximately $1,581,991,000. Finally, JLB & Associates Inc. purchased a new position in Exelixis in the 2nd quarter valued at approximately $2,658,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis Company Profile

Exelixis, Inc is a biopharmaceutical company focused on discovering, developing, and commercializing medicines for cancer and other serious diseases. The company’s research programs center primarily on targeted therapies, including treatments designed to inhibit signaling pathways involved in tumor growth and progression.

Exelixis’ lead product is CABOMETYX (cabozantinib), an oral medicine approved in the United States for certain patients with renal cell carcinoma, hepatocellular carcinoma, and differentiated thyroid cancer.