Cowen and Company Reiterates “Outperform” Rating for Exelixis Inc. (EXEL)
Exelixis Inc. (NASDAQ:EXEL)‘s stock had its “outperform” rating reaffirmed by Cowen and Company in a note issued to investors on Wednesday.
Other equities analysts have also recently issued research reports about the company. S&P Equity Research lifted their price target on Exelixis from $13.41 to $15.57 in a report on Wednesday, September 28th. Zacks Investment Research upgraded Exelixis from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report on Tuesday, September 13th. Stifel Nicolaus lifted their price target on Exelixis from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, September 15th. Leerink Swann reiterated a “buy” rating and set a $10.00 price target on shares of Exelixis in a report on Tuesday, July 19th. Finally, Piper Jaffray Cos. reiterated a “neutral” rating and set a $8.00 price target (up previously from $5.00) on shares of Exelixis in a report on Thursday, August 4th. Six analysts have rated the stock with a buy rating, Exelixis presently has a consensus rating of “Buy” and an average price target of $13.51.
Exelixis (NASDAQ:EXEL) opened at 11.91 on Wednesday. The firm’s market capitalization is $2.74 billion. Exelixis has a one year low of $3.55 and a one year high of $15.58. The stock has a 50 day moving average price of $12.74 and a 200-day moving average price of $8.44.
Exelixis (NASDAQ:EXEL) last released its earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.11. The company earned $36.25 million during the quarter, compared to analyst estimates of $16.76 million. Exelixis’s revenue was up 353.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.22) EPS. On average, equities analysts forecast that Exelixis will post ($0.61) earnings per share for the current year.
In other news, insider Gisela Schwab sold 42,338 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $11.00, for a total transaction of $465,718.00. Following the completion of the sale, the insider now owns 174,354 shares in the company, valued at $1,917,894. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 5.90% of the company’s stock.
Large investors have recently modified their holdings of the company. Fox Run Management L.L.C. boosted its stake in shares of Exelixis by 12.5% in the third quarter. Fox Run Management L.L.C. now owns 11,700 shares of the biotechnology company’s stock worth $150,000 after buying an additional 1,300 shares in the last quarter. Creative Planning boosted its stake in shares of Exelixis by 60.2% in the third quarter. Creative Planning now owns 84,813 shares of the biotechnology company’s stock worth $1,085,000 after buying an additional 31,883 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Exelixis by 925.8% in the third quarter. BNP Paribas Arbitrage SA now owns 90,581 shares of the biotechnology company’s stock worth $1,159,000 after buying an additional 81,751 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Exelixis by 2.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 796,015 shares of the biotechnology company’s stock worth $6,217,000 after buying an additional 15,522 shares in the last quarter. Finally, Stifel Financial Corp boosted its stake in shares of Exelixis by 25.7% in the second quarter. Stifel Financial Corp now owns 17,600 shares of the biotechnology company’s stock worth $138,000 after buying an additional 3,600 shares in the last quarter. 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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