Exelixis’ (EXEL) Outperform Rating Reaffirmed at Leerink Swann
Leerink Swann reissued their outperform rating on shares of Exelixis Inc. (NASDAQ:EXEL) in a research report released on Wednesday morning. The firm currently has a $15.00 price objective on the biotechnology company’s stock.
EXEL has been the topic of several other research reports. S&P Equity Research lifted their target price on Exelixis from $13.41 to $15.57 in a research note on Wednesday, September 28th. Stifel Nicolaus lifted their target price on Exelixis from $12.00 to $15.00 and gave the company a buy rating in a research note on Thursday, September 15th. William Blair reaffirmed an outperform rating on shares of Exelixis in a research note on Thursday, September 15th. Piper Jaffray Cos. reiterated a neutral rating and set a $8.00 price target (up from $5.00) on shares of Exelixis in a research report on Thursday, August 4th. Finally, Zacks Investment Research upgraded Exelixis from a hold rating to a buy rating and set a $14.00 price target on the stock in a research report on Tuesday, September 13th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $12.35.
Shares of Exelixis (NASDAQ:EXEL) opened at 12.72 on Wednesday. The stock’s market capitalization is $2.93 billion. Exelixis has a 12 month low of $3.55 and a 12 month high of $15.58. The stock has a 50 day moving average price of $12.36 and a 200 day moving average price of $8.04.
Exelixis (NASDAQ:EXEL) last announced its earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.11. The business had revenue of $36.25 million for the quarter, compared to the consensus estimate of $16.76 million. The firm’s revenue was up 353.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.22) EPS. On average, analysts anticipate that Exelixis will post ($0.63) EPS for the current fiscal year.
In related news, insider Gisela Schwab sold 42,338 shares of Exelixis stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $11.00, for a total value of $465,718.00. Following the transaction, the insider now directly owns 174,354 shares in the company, valued at approximately $1,917,894. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.90% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of EXEL. Farallon Capital Management LLC bought a new position in shares of Exelixis during the second quarter worth about $38,386,000. Janus Capital Management LLC bought a new position in shares of Exelixis during the second quarter worth about $25,702,000. Lord Abbett & CO. LLC bought a new position in shares of Exelixis during the second quarter worth about $22,690,000. Sector Gamma AS bought a new position in shares of Exelixis during the second quarter worth about $16,087,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Exelixis during the second quarter worth about $15,818,000. Institutional investors and hedge funds own 81.80% of the company’s stock.
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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