Exelixis Inc. (EXEL) Receives $14.89 Average PT from Analysts
Shares of Exelixis Inc. (NASDAQ:EXEL) have been given an average recommendation of “Buy” by the seven analysts that are covering the stock. Six investment analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have covered the stock in the last year is $14.89.
A number of analysts recently commented on EXEL shares. Leerink Swann reiterated an “outperform” rating and issued a $10.00 price objective (up from $8.00) on shares of Exelixis in a research report on Tuesday, June 21st. Stifel Nicolaus lifted their price objective on Exelixis from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Piper Jaffray Cos. restated a “neutral” rating and set a $8.00 target price (up from $5.00) on shares of Exelixis in a research report on Thursday, August 4th. Cowen and Company restated a “buy” rating on shares of Exelixis in a research report on Wednesday, August 10th. Finally, 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 report on Tuesday, September 13th.
In related 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 value of $465,718.00. Following the completion of 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 available through the SEC website. 5.90% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Seven Eight Capital LLC acquired a new position in shares of Exelixis during the second quarter valued at about $105,000. GSA Capital Partners LLP acquired a new position in shares of Exelixis during the second quarter valued at about $117,000. Acrospire Investment Management LLC raised its position in shares of Exelixis by 444.4% in the second quarter. Acrospire Investment Management LLC now owns 15,253 shares of the biotechnology company’s stock valued at $119,000 after buying an additional 12,451 shares in the last quarter. Stifel Financial Corp raised its position 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 valued at $138,000 after buying an additional 3,600 shares in the last quarter. Finally, Fox Run Management L.L.C. raised its position 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 valued at $150,000 after buying an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 81.80% of the company’s stock.
Exelixis (NASDAQ:EXEL) opened at 11.32 on Thursday. The company’s 50-day moving average is $12.75 and its 200 day moving average is $8.49. Exelixis has a 12 month low of $3.55 and a 12 month high of $15.58. The company’s market cap is $2.61 billion.
Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Wednesday, August 3rd. The biotechnology company reported ($0.16) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.11. The firm earned $36.25 million during the quarter, compared to analyst estimates of $16.76 million. Exelixis’s revenue for the quarter was up 353.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.22) earnings per share. Equities analysts forecast that Exelixis will post ($0.61) earnings per share for the current fiscal year.
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.
Receive News & Ratings for Exelixis Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exelixis Inc. and related companies with MarketBeat.com's FREE daily email newsletter.