Exelixis (NASDAQ:EXEL) Price Target Raised to $28.00 at Royal Bank of Canada

Exelixis (NASDAQ:EXELFree Report) had its target price lifted by Royal Bank of Canada from $26.00 to $28.00 in a research report released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the biotechnology company’s stock.

EXEL has been the subject of a number of other research reports. Guggenheim restated a buy rating and set a $30.00 target price on shares of Exelixis in a report on Wednesday, October 11th. BTIG Research assumed coverage on Exelixis in a report on Tuesday, December 19th. They set a buy rating and a $27.00 target price for the company. Morgan Stanley upped their target price on Exelixis from $22.00 to $23.00 and gave the company an equal weight rating in a report on Thursday, November 2nd. Citigroup assumed coverage on Exelixis in a report on Friday, December 15th. They set a buy rating and a $31.00 target price for the company. Finally, StockNews.com upgraded Exelixis from a buy rating to a strong-buy rating in a report on Friday, November 3rd. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Exelixis currently has a consensus rating of Moderate Buy and an average price target of $25.94.

Check Out Our Latest Report on EXEL

Exelixis Stock Performance

Shares of EXEL stock opened at $20.22 on Wednesday. Exelixis has a fifty-two week low of $16.15 and a fifty-two week high of $24.34. The stock has a 50 day moving average price of $22.65 and a two-hundred day moving average price of $21.78. The company has a market capitalization of $6.13 billion, a P/E ratio of 31.59, a PEG ratio of 0.53 and a beta of 0.53.

Insider Activity

In related news, Director David Edward Johnson purchased 120,409 shares of Exelixis stock in a transaction dated Monday, November 27th. The stock was purchased at an average cost of $21.61 per share, for a total transaction of $2,602,038.49. Following the completion of the acquisition, the director now directly owns 910,730 shares of the company’s stock, valued at $19,680,875.30. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other Exelixis news, Director David Edward Johnson acquired 120,409 shares of Exelixis stock in a transaction that occurred on Monday, November 27th. The stock was bought at an average cost of $21.61 per share, for a total transaction of $2,602,038.49. Following the acquisition, the director now owns 910,730 shares of the company’s stock, valued at $19,680,875.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Patrick J. Haley sold 14,149 shares of Exelixis stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $22.50, for a total value of $318,352.50. Following the completion of the sale, the executive vice president now owns 307,687 shares of the company’s stock, valued at $6,922,957.50. The disclosure for this sale can be found here. Insiders sold 114,149 shares of company stock worth $2,587,603 over the last three months. 2.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Exelixis

Several large investors have recently bought and sold shares of the business. Fisher Asset Management LLC boosted its position in Exelixis by 232.6% in the fourth quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 728 shares during the last quarter. Fifth Third Bancorp boosted its position in Exelixis by 100.9% in the second quarter. Fifth Third Bancorp now owns 1,366 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 686 shares during the last quarter. Contravisory Investment Management Inc. purchased a new position in Exelixis in the fourth quarter worth about $26,000. GAMMA Investing LLC purchased a new position in Exelixis in the fourth quarter worth about $27,000. Finally, Massmutual Trust Co. FSB ADV boosted its position in Exelixis by 189.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,440 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 943 shares during the last quarter. 93.09% of the stock is currently owned by institutional investors.

About Exelixis

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Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines 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.

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