Exelixis, Inc. (NASDAQ:EXEL) Upgraded to B- at TheStreet
Several other analysts also recently issued reports on EXEL. Piper Jaffray Companies reissued a buy rating and issued a $29.00 price target on shares of Exelixis in a report on Thursday, August 3rd. William Blair reissued an outperform rating on shares of Exelixis in a report on Thursday, July 27th. Oppenheimer Holdings, Inc. began coverage on Exelixis in a report on Monday, June 12th. They issued a hold rating on the stock. Cann reissued a hold rating on shares of Exelixis in a report on Thursday, July 20th. Finally, Stifel Nicolaus reissued a hold rating and issued a $26.00 price target on shares of Exelixis in a report on Thursday, August 3rd. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Exelixis has an average rating of Buy and a consensus target price of $25.57.
Exelixis (NASDAQ EXEL) traded up 1.76% during midday trading on Monday, hitting $27.68. The stock had a trading volume of 1,034,391 shares. The stock has a 50-day moving average price of $25.47 and a 200 day moving average price of $21.97. The firm has a market cap of $8.14 billion, a PE ratio of 144.17 and a beta of 1.89. Exelixis has a one year low of $10.04 and a one year high of $28.45.
Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. The business had revenue of $99.01 million for the quarter, compared to the consensus estimate of $85.27 million. Exelixis had a return on equity of 80.43% and a net margin of 18.20%. The business’s revenue was up 173.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.15) EPS. On average, analysts predict that Exelixis will post $0.25 earnings per share for the current year.
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In other Exelixis news, insider Patrick J. Haley sold 5,000 shares of Exelixis stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $18.46, for a total transaction of $92,300.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Carl B. Feldbaum sold 32,988 shares of Exelixis stock in a transaction on Monday, May 15th. The shares were sold at an average price of $21.58, for a total value of $711,881.04. Following the sale, the director now directly owns 52,721 shares in the company, valued at approximately $1,137,719.18. The disclosure for this sale can be found here. 5.10% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Fortaleza Asset Management Inc. acquired a new stake in shares of Exelixis during the first quarter valued at $106,000. First Quadrant L P CA acquired a new stake in shares of Exelixis during the second quarter valued at $144,000. Meeder Asset Management Inc. acquired a new stake in shares of Exelixis during the first quarter valued at $170,000. Wetherby Asset Management Inc. acquired a new stake in shares of Exelixis during the second quarter valued at $218,000. Finally, Capstone Asset Management Co. acquired a new stake in shares of Exelixis during the second quarter valued at $242,000. 80.19% of the stock is currently owned by hedge funds and other institutional investors.
Exelixis Company Profile
Exelixis, Inc is a biopharmaceutical company. The Company is focused on discovery, development and commercialization of new medicines to manage care and outcomes for people with cancer. The Company’s cabozantinib product is an inhibitor of multiple tyrosine kinases, including MET, AXL, and VEGF receptors.
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