Exelixis, Inc. (NASDAQ:EXEL) fell 1.2% during mid-day trading on Friday . The stock traded as low as $24.67 and last traded at $25.98. 2,577,790 shares traded hands during trading, a decline of 37% from the average session volume of 4,076,280 shares. The stock had previously closed at $25.66.

Several research firms have recently issued reports on EXEL. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Exelixis in a research report on Monday, June 5th. Stifel Nicolaus reaffirmed a “hold” rating and set a $26.00 price objective on shares of Exelixis in a research report on Thursday, August 3rd. Piper Jaffray Companies reaffirmed a “buy” rating and set a $29.00 price objective on shares of Exelixis in a research report on Thursday, August 3rd. William Blair reaffirmed an “outperform” rating on shares of Exelixis in a research report on Friday, June 16th. Finally, Deutsche Bank AG cut shares of Exelixis from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $26.00 to $29.00 in a research report on Thursday, August 3rd. Five analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Exelixis presently has an average rating of “Buy” and an average target price of $25.57.

The firm’s 50 day moving average price is $27.17 and its 200 day moving average price is $23.21. The company has a market capitalization of $7.63 billion, a PE ratio of 131.16 and a beta of 1.97.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.02. The business had revenue of $99.01 million during the quarter, compared to analyst estimates of $85.27 million. Exelixis had a net margin of 18.20% and a return on equity of 80.43%. The business’s revenue was up 173.1% on a year-over-year basis. During the same period last year, the business earned ($0.15) EPS. Equities analysts predict that Exelixis, Inc. will post $0.26 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its holdings in Exelixis by 1.3% during the 1st quarter. Legal & General Group Plc now owns 84,763 shares of the biotechnology company’s stock worth $1,834,000 after acquiring an additional 1,078 shares in the last quarter. Aperio Group LLC grew its holdings in Exelixis by 2.7% during the 2nd quarter. Aperio Group LLC now owns 58,345 shares of the biotechnology company’s stock worth $1,437,000 after acquiring an additional 1,514 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in Exelixis by 7.0% during the 2nd quarter. Teacher Retirement System of Texas now owns 23,251 shares of the biotechnology company’s stock worth $573,000 after acquiring an additional 1,517 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Exelixis by 14.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,751 shares of the biotechnology company’s stock worth $320,000 after acquiring an additional 1,838 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in Exelixis by 26.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 9,957 shares of the biotechnology company’s stock worth $245,000 after acquiring an additional 2,091 shares in the last quarter. 79.20% of the stock is owned by institutional investors and hedge funds.

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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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