Exelixis, Inc. (EXEL) Lifted to “B-” at TheStreet
A number of other equities research analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Exelixis from a hold rating to a buy rating and set a $32.00 target price on the stock in a research note on Wednesday. Needham & Company LLC raised their target price on shares of Exelixis from $30.00 to $33.00 and gave the stock a buy rating in a research note on Tuesday. Royal Bank Of Canada raised their target price on shares of Exelixis from $33.00 to $39.00 and gave the stock an outperform rating in a research note on Tuesday. Stifel Nicolaus restated a hold rating and set a $26.00 target price on shares of Exelixis in a research note on Tuesday. Finally, Piper Jaffray Companies restated an overweight rating on shares of Exelixis in a research note on Monday, October 16th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $31.38.
Shares of Exelixis (NASDAQ EXEL) opened at 27.17 on Wednesday. The company’s 50 day moving average is $26.26 and its 200 day moving average is $24.14. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of 137.22 and a beta of 1.91. Exelixis has a 52-week low of $10.04 and a 52-week high of $29.50.
Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.02. Exelixis had a net margin of 18.20% and a return on equity of 80.43%. The firm had revenue of $99.01 million for the quarter, compared to analysts’ expectations of $85.27 million. During the same quarter in the prior year, the business earned ($0.15) EPS. The business’s quarterly revenue was up 173.1% on a year-over-year basis. Analysts anticipate that Exelixis will post $0.28 earnings per share for the current year.
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In other Exelixis news, Director Stelios Papadopoulos sold 10,000 shares of the stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $25.40, for a total transaction of $254,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gisela Schwab sold 100,000 shares of the stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $23.79, for a total transaction of $2,379,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 970,152 shares of company stock valued at $25,923,457. Insiders own 5.10% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. First Quadrant L P CA purchased a new stake in Exelixis during the 2nd quarter valued at approximately $144,000. Fisher Asset Management LLC purchased a new stake in Exelixis during the 3rd quarter valued at approximately $213,000. Wetherby Asset Management Inc. purchased a new stake in Exelixis during the 2nd quarter valued at approximately $218,000. Caxton Associates LP purchased a new stake in Exelixis during the 2nd quarter valued at approximately $227,000. Finally, Private Advisor Group LLC purchased a new stake in Exelixis during the 2nd quarter valued at approximately $247,000. 79.20% of the stock is owned by institutional investors and hedge funds.
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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