After William Blair and Piper Sandler gave Exelixis (NASDAQ: EXEL) a Buy rating last month, the company received another Buy, this time from Needham. Analyst Chad Messer assigned a Buy rating to Exelixis today and set a price target of $33.00. The company’s shares closed last Friday at $21.91.
According to TipRanks.com, Messer is a 5-star analyst with an average return of 18.1% and a 53.8% success rate. Messer covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals, Autolus Therapeutics, and Sarepta Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Exelixis with a $32.60 average price target, implying a 49.6% upside from current levels. In a report issued on February 11, Oppenheimer also maintained a Buy rating on the stock with a $35.00 price target.
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Based on Exelixis’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $270 million and net profit of $28.39 million. In comparison, last year the company earned revenue of $240 million and had a net profit of $68.74 million.
Based on the recent corporate insider activity of 137 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EXEL in relation to earlier this year. Last month, Jeffrey Hessekiel, the EVP & GC of EXEL bought 50,000 shares for a total of $256,100.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Exelixis, Inc. is a biopharmaceutical company, which engages in the development, commercialization, and discovery of new medicines for the treatment of cancer. It offers products under the brands of Cometriq, Cabometyx, and Cotellic. The company was founded by Corey S. Goodman and Stelios B. Papadopoulos on November 15, 1994 and is headquartered in Alameda, CA.
