Exelixis (NASDAQ:EXEL) Given New $52.00 Price Target at HC Wainwright

Exelixis (NASDAQ:EXEL) had its price target hoisted by stock analysts at HC Wainwright from $49.00 to $52.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price would suggest a potential upside of 19.24% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Morgan Stanley reiterated an “equal weight” rating and issued a $48.00 price objective (up from $45.00) on shares of Exelixis in a research report on Thursday, January 8th. Wolfe Research started coverage on shares of Exelixis in a report on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Royal Bank Of Canada reissued a “sector perform” rating and set a $45.00 price objective on shares of Exelixis in a research note on Tuesday, October 21st. Stifel Nicolaus set a $43.00 target price on Exelixis in a research note on Wednesday, November 5th. Finally, Truist Financial set a $51.00 target price on Exelixis in a report on Wednesday, January 14th. Eleven investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $45.95.

Exelixis Trading Down 1.5%

Shares of EXEL opened at $43.61 on Tuesday. Exelixis has a twelve month low of $32.30 and a twelve month high of $49.62. The firm has a market capitalization of $11.69 billion, a P/E ratio of 18.40, a PEG ratio of 0.80 and a beta of 0.40. The firm’s 50-day moving average is $43.74 and its two-hundred day moving average is $41.08.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.10. The company had revenue of $597.76 million during the quarter, compared to the consensus estimate of $590.04 million. Exelixis had a net margin of 29.63% and a return on equity of 31.06%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the firm earned $0.47 EPS. Analysts predict that Exelixis will post 2.04 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Patrick J. Haley sold 34,187 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $41.88, for a total transaction of $1,431,751.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mary C. Beckerle sold 24,622 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $41.93, for a total transaction of $1,032,400.46. Following the completion of the sale, the director owned 21,380 shares of the company’s stock, valued at approximately $896,463.40. The trade was a 53.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 245,235 shares of company stock valued at $10,490,600. 2.85% of the stock is owned by company insiders.

Institutional Trading of Exelixis

Several institutional investors have recently made changes to their positions in EXEL. Merit Financial Group LLC lifted its stake in shares of Exelixis by 25.4% in the 4th quarter. Merit Financial Group LLC now owns 86,956 shares of the biotechnology company’s stock valued at $3,811,000 after purchasing an additional 17,615 shares in the last quarter. J.M. Arbour LLC purchased a new stake in Exelixis during the fourth quarter worth approximately $628,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Exelixis by 21.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,369 shares of the biotechnology company’s stock worth $630,000 after acquiring an additional 2,544 shares in the last quarter. Parcion Private Wealth LLC increased its position in shares of Exelixis by 80.2% in the fourth quarter. Parcion Private Wealth LLC now owns 12,716 shares of the biotechnology company’s stock worth $557,000 after acquiring an additional 5,658 shares in the last quarter. Finally, CWM LLC boosted its position in Exelixis by 46.2% during the 4th quarter. CWM LLC now owns 290,715 shares of the biotechnology company’s stock worth $12,742,000 after purchasing an additional 91,885 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Company Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.