Piper Sandler reaffirmed their buy rating on shares of Exelixis (NASDAQ:EXEL) in a research report report published on Tuesday morning, Stock Target Advisor reports. The brokerage currently has a $35.00 price objective on the biotechnology company’s stock.

A number of other equities analysts also recently issued reports on the company. Bank of America reissued a buy rating and set a $21.00 target price (down from $22.00) on shares of Exelixis in a research note on Monday, January 13th. Needham & Company LLC reissued a buy rating and set a $28.00 target price on shares of Exelixis in a research note on Monday, January 27th. ValuEngine raised Exelixis from a sell rating to a hold rating in a research note on Tuesday, December 3rd. Piper Jaffray Companies cut their target price on Exelixis from $45.00 to $35.00 in a research note on Thursday, October 31st. Finally, TheStreet downgraded Exelixis from a b- rating to a c rating in a research note on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $26.09.

Shares of EXEL stock opened at $20.77 on Tuesday. The company has a market cap of $6.31 billion, a price-to-earnings ratio of 10.65, a price-to-earnings-growth ratio of 3.43 and a beta of 1.93. The stock has a 50 day simple moving average of $18.54 and a 200-day simple moving average of $18.28. Exelixis has a 12-month low of $15.02 and a 12-month high of $25.31. The company has a current ratio of 6.89, a quick ratio of 6.80 and a debt-to-equity ratio of 0.01.

In related news, Director Alan M. Garber sold 86,956 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $18.01, for a total value of $1,566,077.56. Following the completion of the transaction, the director now directly owns 91,329 shares of the company’s stock, valued at approximately $1,644,835.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Morrissey sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $17.49, for a total value of $437,250.00. The disclosure for this sale can be found here. Insiders sold a total of 427,639 shares of company stock valued at $7,914,164 over the last ninety days. 4.50% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its stake in Exelixis by 20.9% in the 4th quarter. Renaissance Technologies LLC now owns 17,953,926 shares of the biotechnology company’s stock valued at $316,348,000 after purchasing an additional 3,104,330 shares in the last quarter. State Street Corp increased its stake in Exelixis by 5.8% in the 4th quarter. State Street Corp now owns 11,061,947 shares of the biotechnology company’s stock valued at $194,912,000 after purchasing an additional 611,170 shares in the last quarter. AJO LP increased its stake in Exelixis by 86.5% in the 4th quarter. AJO LP now owns 7,636,882 shares of the biotechnology company’s stock valued at $134,561,000 after purchasing an additional 3,541,719 shares in the last quarter. Farallon Capital Management LLC increased its stake in Exelixis by 328.6% in the 4th quarter. Farallon Capital Management LLC now owns 7,500,000 shares of the biotechnology company’s stock valued at $132,150,000 after purchasing an additional 5,750,000 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Exelixis by 9.3% in the 4th quarter. First Trust Advisors LP now owns 4,398,219 shares of the biotechnology company’s stock valued at $77,497,000 after purchasing an additional 373,013 shares in the last quarter. 77.01% of the stock is owned by hedge funds and other institutional investors.

Exelixis Company Profile

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's products include 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 patients with progressive and metastatic medullary thyroid cancer.

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Analyst Recommendations for Exelixis (NASDAQ:EXEL)

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