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

Exelixis (NASDAQ:EXEL) had its target price lifted by UBS Group from $43.00 to $52.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the biotechnology company’s stock. UBS Group’s target price suggests a potential downside of 3.63% from the stock’s current price.

EXEL has been the topic of a number of other research reports. Wall Street Zen raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Barclays lifted their price objective on shares of Exelixis from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Monday, April 20th. Stifel Nicolaus upped their target price on shares of Exelixis from $44.00 to $47.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. Wells Fargo & Company increased their target price on Exelixis from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Finally, Citizens Jmp raised their price target on Exelixis from $50.00 to $55.00 and gave the company a “market outperform” rating in a research report on Wednesday, June 24th. Eight analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $47.60.

Exelixis Stock Down 0.8%

NASDAQ:EXEL opened at $53.96 on Thursday. The stock has a market cap of $13.56 billion, a P/E ratio of 17.93, a PEG ratio of 1.57 and a beta of 0.42. The business’s 50-day moving average price is $50.18 and its two-hundred day moving average price is $45.80. Exelixis has a twelve month low of $33.76 and a twelve month high of $55.91.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.75 by $0.12. The company had revenue of $610.81 million during the quarter, compared to analyst estimates of $607.51 million. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.Exelixis’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 earnings per share. On average, equities research analysts expect that Exelixis will post 3.16 EPS for the current fiscal year.

Insider Buying and Selling

In other Exelixis news, EVP Dana Aftab sold 43,451 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $50.35, for a total value of $2,187,757.85. Following the completion of the sale, the executive vice president directly owned 594,741 shares of the company’s stock, valued at $29,945,209.35. The trade was a 6.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sue Gail Eckhardt sold 9,812 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $50.14, for a total transaction of $491,973.68. Following the sale, the director owned 16,079 shares of the company’s stock, valued at approximately $806,201.06. The trade was a 37.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 219,170 shares of company stock worth $10,620,641 in the last ninety days. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Exelixis by 0.5% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 59,420 shares of the biotechnology company’s stock valued at $2,549,000 after acquiring an additional 281 shares during the period. RHS Financial LLC increased its stake in Exelixis by 2.4% in the 4th quarter. RHS Financial LLC now owns 12,619 shares of the biotechnology company’s stock worth $553,000 after purchasing an additional 293 shares during the period. Meeder Advisory Services Inc. increased its stake in Exelixis by 5.8% in the 4th quarter. Meeder Advisory Services Inc. now owns 5,406 shares of the biotechnology company’s stock worth $237,000 after purchasing an additional 298 shares during the period. Cim LLC lifted its position in Exelixis by 0.9% in the third quarter. Cim LLC now owns 35,397 shares of the biotechnology company’s stock valued at $1,462,000 after purchasing an additional 305 shares during the last quarter. Finally, J.W. Cole Advisors Inc. lifted its position in Exelixis by 6.5% in the fourth quarter. J.W. Cole Advisors Inc. now owns 5,354 shares of the biotechnology company’s stock valued at $235,000 after purchasing an additional 329 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

About Exelixis

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.