Exelixis’ (EXEL) Positive Rating Reiterated at Leerink Swann
Leerink Swann restated their positive rating on shares of Exelixis Inc. (NASDAQ:EXEL) in a research report released on Friday morning. They currently have a $15.00 target price on the biotechnology company’s stock.
A number of other brokerages have also weighed in on EXEL. S&P Equity Research raised their target price on Exelixis from $13.41 to $15.57 in a research note on Wednesday, September 28th. Zacks Investment Research upgraded Exelixis from a hold rating to a buy rating and set a $14.00 target price for the company in a research note on Tuesday, September 13th. Stifel Nicolaus raised their target price on Exelixis from $10.00 to $12.00 and gave the company a buy rating in a research note on Thursday, August 4th. Piper Jaffray Cos. restated a neutral rating and issued a $8.00 target price (up from $5.00) on shares of Exelixis in a research note on Thursday, August 4th. Finally, Cowen and Company restated a buy rating on shares of Exelixis in a research note on Wednesday, August 10th. Six research analysts have rated the stock with a buy rating, Exelixis has a consensus rating of Buy and an average target price of $13.51.
Shares of Exelixis (NASDAQ:EXEL) opened at 12.69 on Friday. Exelixis has a 12-month low of $3.55 and a 12-month high of $15.58. The firm’s 50-day moving average price is $12.70 and its 200 day moving average price is $8.39. The firm’s market cap is $2.92 billion.
Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Wednesday, August 3rd. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.11. The company had revenue of $36.25 million for the quarter, compared to analyst estimates of $16.76 million. During the same quarter in the prior year, the company earned ($0.22) earnings per share. The business’s revenue was up 353.7% compared to the same quarter last year. On average, equities analysts expect that Exelixis will post ($0.61) earnings per share for the current fiscal year.
In other Exelixis news, insider Gisela Schwab sold 42,338 shares of the firm’s stock in a transaction dated Thursday, August 4th. The stock was 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 $1,917,894. The sale was disclosed in a document filed with the SEC, which is available through this link. 5.90% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Exelixis by 2.3% in the second quarter. Vanguard Group Inc. now owns 16,457,824 shares of the biotechnology company’s stock worth $128,536,000 after buying an additional 375,754 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in Exelixis by 0.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,357,463 shares of the biotechnology company’s stock valued at $41,842,000 after buying an additional 28,145 shares during the period. Farallon Capital Management LLC acquired a new position in Exelixis during the second quarter valued at $38,386,000. Janus Capital Management LLC acquired a new position in Exelixis during the second quarter valued at $25,702,000. Finally, Lord Abbett & CO. LLC acquired a new position in Exelixis during the second quarter valued at $22,690,000. 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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