why Exelixis Inc. [EXEL] is a Good Choice for Investors After New Price Target of $27.42

Exelixis Inc. [NASDAQ: EXEL] gained 3.68% or 0.55 points to close at $15.51 with a heavy trading volume of 4306277 shares. The company report on October 4, 2022 that Exelixis Expands Clinical Trial Collaboration and Supply Agreement with Bristol Myers Squibb to Include the Fixed-Dose Combination of Nivolumab and Relatlimab in Combination with XL092 in Phase 1b STELLAR-002 Trial.


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— Agreement enables evaluation of XL092 in combination with an additional immune checkpoint inhibitor —.

Exelixis, Inc. (Nasdaq: EXEL) today announced the expansion of its June 2021 Clinical Trial Collaboration and Supply Agreement with Bristol-Myers Squibb Company (NYSE: BMY) to include the use of the fixed-dose combination of nivolumab and relatlimab in the ongoing phase 1b STELLAR-002 clinical trial (NCT05176483), which is evaluating XL092 in combination with multiple immune checkpoint inhibitors (ICIs) in advanced solid tumors. Exelixis is sponsoring STELLAR-002, and Bristol Myers Squibb will provide the fixed-dose combination of nivolumab and relatlimab in addition to nivolumab and ipilimumab for use in the trial, which is divided into two parts: a dose-escalation stage and an expansion cohort stage. The novel triplet combination of XL092 and the fixed-dose combination of nivolumab and relatlimab has the potential to be used in multiple expansion cohorts.

It opened the trading session at $15.04, the shares rose to $15.70 and dropped to $14.87, the range by which the price of stock traded the whole day. The daily chart for EXEL points out that the company has recorded -30.73% loss over the past six months. However, it is still -4.02% lower than its most recent low trading price.

If we look at the average trading volume of 2.21M shares, EXEL reached to a volume of 4306277 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Exelixis Inc. [EXEL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EXEL shares is $27.42 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EXEL stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BMO Capital Markets have made an estimate for Exelixis Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 24, 2022. While these analysts kept the previous recommendation, Piper Sandler raised their target price to Overweight. The new note on the price target was released on November 19, 2021, representing the official price target for Exelixis Inc. stock. Previously, the target price had yet another raise to $28, while Jefferies analysts kept a Buy rating on EXEL stock.

The Average True Range (ATR) for Exelixis Inc. is set at 0.55, with the Price to Sales ratio for EXEL stock in the period of the last 12 months amounting to 3.25. The Price to Book ratio for the last quarter was 2.08, with the Price to Cash per share for the same quarter was set at 4.71. Price to Free Cash Flow for EXEL in the course of the last twelve months was 16.30 with Quick ratio for the last quarter at 6.00.

Trading performance analysis for EXEL stock

Exelixis Inc. [EXEL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.48. With this latest performance, EXEL shares dropped by -13.69% in over the last four-week period, additionally sinking by -30.73% over the last 6 months – not to mention a drop of -28.43% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EXEL stock in for the last two-week period is set at 35.85, with the RSI for the last a single of trading hit 38.45, and the three-weeks RSI is set at 35.32 for Exelixis Inc. [EXEL]. The present Moving Average for the last 50 days of trading for this stock 17.96, while it was recorded at 15.49 for the last single week of trading, and 19.65 for the last 200 days.

Exelixis Inc. [EXEL]: A deeper dive into fundamental analysis

Exelixis Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.00 and a Current Ratio set at 6.10.

Exelixis Inc. [EXEL]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for EXEL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Exelixis Inc. go to 46.00%.

An analysis of insider ownership at Exelixis Inc. [EXEL]

There are presently around $4,297 million, or 89.80% of EXEL stock, in the hands of institutional investors. The top three institutional holders of EXEL stocks are: BLACKROCK INC. with ownership of 33,556,731, which is approximately 2.044% of the company’s market cap and around 1.40% of the total institutional ownership; VANGUARD GROUP INC, holding 31,064,733 shares of the stock with an approximate value of $481.81 million in EXEL stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $275.83 million in EXEL stock with ownership of nearly 5.466% of the company’s market capitalization.

210 institutional holders increased their position in Exelixis Inc. [NASDAQ:EXEL] by around 30,108,193 shares. Additionally, 151 investors decreased positions by around 21,283,739 shares, while 54 investors held positions by with 225,644,264 shares. The mentioned changes placed institutional holdings at 277,036,196 shares, according to the latest SEC report filing. EXEL stock had 58 new institutional investments in for a total of 2,520,495 shares, while 35 institutional investors sold positions of 5,004,218 shares during the same period.

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