Exelixis, Inc. (NASDAQ:EXEL – Get Free Report)’s stock price reached a new 52-week high on Friday . The company traded as high as $54.51 and last traded at $54.8110, with a volume of 104955 shares. The stock had previously closed at $53.23.
Analysts Set New Price Targets
EXEL has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their target price on Exelixis from $44.00 to $47.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th. Wall Street Zen upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. TD Cowen lifted their price objective on Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Truist Financial downgraded Exelixis from a “buy” rating to a “hold” rating and boosted their price objective for the company from $51.00 to $54.00 in a report on Thursday. Finally, HC Wainwright increased their target price on Exelixis from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Eight analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $46.87.
View Our Latest Stock Analysis on Exelixis
Exelixis Trading Up 3.0%
Exelixis (NASDAQ:EXEL – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.75 by $0.12. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The business had revenue of $610.81 million during the quarter, compared to the consensus estimate of $607.51 million. During the same quarter in the previous year, the firm posted $0.55 earnings per share. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, analysts anticipate that Exelixis, Inc. will post 3.16 EPS for the current fiscal year.
Insiders Place Their Bets
In other Exelixis news, EVP Patrick J. Haley sold 32,110 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $49.81, for a total transaction of $1,599,399.10. Following the completion of the transaction, the executive vice president owned 357,638 shares in the company, valued at $17,813,948.78. The trade was a 8.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Maria C. Freire sold 20,634 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $46.00, for a total value of $949,164.00. Following the completion of the transaction, the director owned 100,819 shares in the company, valued at approximately $4,637,674. The trade was a 16.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 219,170 shares of company stock worth $10,620,641. Corporate insiders own 2.60% of the company’s stock.
Hedge Funds Weigh In On Exelixis
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Anchor Investment Management LLC grew its stake in shares of Exelixis by 500.0% during the 3rd quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 500 shares during the period. Motiv8 Investments LLC acquired a new position in Exelixis in the fourth quarter valued at $26,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of Exelixis in the 1st quarter valued at $27,000. Western Wealth Management LLC acquired a new position in shares of Exelixis in the 1st quarter valued at about $29,000. Finally, Acumen Wealth Advisors LLC purchased a new stake in shares of Exelixis in the fourth quarter worth about $29,000. Institutional investors and hedge funds own 85.27% of the company’s stock.
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.
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