Exelixis (NASDAQ:EXEL) Upgraded at Stephens

Stephens upgraded shares of Exelixis (NASDAQ:EXEL) from an equal weight rating to an overweight rating in a research note issued to investors on Tuesday, MarketBeat reports. Stephens currently has $60.00 price objective on the biotechnology company’s stock, up from their prior price objective of $29.00.

Other equities research analysts also recently issued reports about the stock. HC Wainwright reiterated a “buy” rating and set a $47.00 target price (up from $40.00) on shares of Exelixis in a research report on Thursday, June 12th. Citigroup lifted their target price on shares of Exelixis from $45.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Royal Bank Of Canada reiterated an “outperform” rating and set a $40.00 target price on shares of Exelixis in a research report on Wednesday, May 14th. Stifel Nicolaus raised their price target on shares of Exelixis from $36.00 to $38.00 and gave the stock a “hold” rating in a report on Wednesday, May 14th. Finally, Truist Financial restated a “buy” rating and set a $55.00 price target (up previously from $43.00) on shares of Exelixis in a report on Monday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.22.

Exelixis Price Performance

NASDAQ:EXEL opened at $43.09 on Tuesday. The firm’s 50 day simple moving average is $40.92 and its 200 day simple moving average is $37.27. Exelixis has a one year low of $21.82 and a one year high of $49.62. The company has a market cap of $11.75 billion, a PE ratio of 19.59, a P/E/G ratio of 0.87 and a beta of 0.28.

Insider Activity

In related news, EVP Patrick J. Haley sold 126,383 shares of Exelixis stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $47.96, for a total value of $6,061,328.68. Following the completion of the sale, the executive vice president now owns 446,459 shares of the company’s stock, valued at approximately $21,412,173.64. This trade represents a 22.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Dana Aftab sold 1,508 shares of Exelixis stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $39.00, for a total transaction of $58,812.00. Following the completion of the sale, the executive vice president now directly owns 693,181 shares of the company’s stock, valued at approximately $27,034,059. The trade was a 0.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold 458,113 shares of company stock worth $21,024,817 in the last quarter. 2.82% of the stock is owned by corporate insiders.

Institutional Trading of Exelixis

Several hedge funds have recently bought and sold shares of EXEL. Nuveen LLC acquired a new stake in Exelixis in the 1st quarter valued at $123,310,000. Invesco Ltd. grew its position in Exelixis by 308.1% in the 4th quarter. Invesco Ltd. now owns 3,975,241 shares of the biotechnology company’s stock valued at $132,376,000 after purchasing an additional 3,001,204 shares during the period. AQR Capital Management LLC grew its position in Exelixis by 73.8% in the 1st quarter. AQR Capital Management LLC now owns 6,893,889 shares of the biotechnology company’s stock valued at $250,869,000 after purchasing an additional 2,926,884 shares during the period. Norges Bank acquired a new stake in Exelixis in the 4th quarter valued at $94,867,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in Exelixis by 330.4% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,484,395 shares of the biotechnology company’s stock valued at $82,730,000 after purchasing an additional 1,907,167 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

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.