Stifel Nicolaus Raises Exelixis Inc. (EXEL) Price Target to $15.00
Exelixis Inc. (NASDAQ:EXEL) had its price objective lifted by Stifel Nicolaus from $12.00 to $15.00 in a research report report published on Thursday morning. Stifel Nicolaus currently has a buy rating on the biotechnology company’s stock.
Several other equities research analysts have also issued reports on EXEL. William Blair reaffirmed an outperform rating on shares of Exelixis in a report on Thursday, September 15th. Cowen and Company reissued an outperform rating on shares of Exelixis in a report on Tuesday, June 7th. Leerink Swann reissued an outperform rating and set a $8.00 target price on shares of Exelixis in a report on Wednesday, May 25th. Finally, Piper Jaffray Cos. reissued a neutral rating and set a $8.00 target price (up from $5.00) on shares of Exelixis in a report on Thursday, August 4th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of Buy and an average target price of $11.10.
Exelixis (NASDAQ:EXEL) opened at 13.64 on Thursday. Exelixis has a 12 month low of $3.55 and a 12 month high of $13.95. The stock’s market capitalization is $3.14 billion. The company has a 50 day moving average price of $11.31 and a 200 day moving average price of $7.30.
Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.11. The company had revenue of $36.25 million for the quarter, compared to the consensus estimate of $16.76 million. The company’s revenue for the quarter was up 353.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.22) earnings per share. Equities research analysts predict that Exelixis will post ($0.65) earnings per share for the current year.
In related news, insider Gisela Schwab sold 42,338 shares of the business’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $11.00, for a total transaction of $465,718.00. Following the transaction, the insider now owns 174,354 shares in the company, valued at approximately $1,917,894. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EXEL. Bellevue Group AG acquired a new position in Exelixis during the first quarter valued at $680,000. A.R.T. Advisors LLC increased its position in Exelixis by 47.3% in the first quarter. A.R.T. Advisors LLC now owns 205,144 shares of the biotechnology company’s stock valued at $820,000 after buying an additional 65,900 shares during the last quarter. Legal & General Group Plc increased its position in Exelixis by 11.4% in the first quarter. Legal & General Group Plc now owns 33,497 shares of the biotechnology company’s stock valued at $136,000 after buying an additional 3,440 shares during the last quarter. Bayesian Capital Management LP acquired a new position in Exelixis during the first quarter valued at $212,000. Finally, Renaissance Technologies LLC increased its position in Exelixis by 83.0% in the first quarter. Renaissance Technologies LLC now owns 1,008,919 shares of the biotechnology company’s stock valued at $4,036,000 after buying an additional 457,569 shares during the last quarter. Hedge funds and other institutional investors own 81.80% of the company’s stock.
Exelixis Company Profile
Exelixis, Inc is a biopharmaceutical company. The Company is engaged in developing small molecule therapies for the treatment of cancer. It focuses on the development and commercialization of cabozantinib, an inhibitor of multiple receptor tyrosine kinases, in various tumor indications. Cabozantinib is indicated for the treatment of progressive, metastatic medullary thyroid cancer, and is sold under the brand name COMETRIQ.
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