Exelixis (NASDAQ:EXEL) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Friday.

A number of other analysts also recently commented on EXEL. ValuEngine downgraded Exelixis from a “sell” rating to a “strong sell” rating in a research report on Friday, June 22nd. Morgan Stanley started coverage on Exelixis in a report on Monday, September 10th. They issued an “underweight” rating and a $19.00 price target for the company. Cann reissued a “buy” rating and issued a $40.00 price target on shares of Exelixis in a report on Thursday, May 17th. Zacks Investment Research raised Exelixis from a “hold” rating to a “strong-buy” rating and set a $25.00 price target for the company in a report on Tuesday, July 31st. Finally, Stifel Nicolaus cut their price target on Exelixis from $29.00 to $25.00 and set a “hold” rating for the company in a report on Wednesday, August 1st. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $31.30.

EXEL opened at $16.97 on Friday. The firm has a market cap of $4.98 billion, a price-to-earnings ratio of 16.21 and a beta of 1.96. Exelixis has a one year low of $16.54 and a one year high of $32.50.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Wednesday, August 1st. The biotechnology company reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.12. The company had revenue of $186.10 million for the quarter, compared to the consensus estimate of $157.37 million. Exelixis had a return on equity of 65.68% and a net margin of 48.17%. Exelixis’s quarterly revenue was up 88.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 earnings per share. equities analysts predict that Exelixis will post 1.03 EPS for the current year.

In related news, insider Michael Morrissey sold 234,267 shares of the company’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $21.04, for a total value of $4,928,977.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gisela Schwab sold 22,500 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $18.53, for a total value of $416,925.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 714,128 shares of company stock valued at $14,496,195. Insiders own 4.80% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. increased its stake in Exelixis by 16.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 20,599 shares of the biotechnology company’s stock valued at $443,000 after purchasing an additional 2,948 shares during the last quarter. GWM Advisors LLC increased its stake in Exelixis by 10.0% in the first quarter. GWM Advisors LLC now owns 33,000 shares of the biotechnology company’s stock valued at $709,000 after purchasing an additional 3,000 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Exelixis by 23.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,165 shares of the biotechnology company’s stock valued at $402,000 after purchasing an additional 3,496 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in Exelixis by 31.2% in the second quarter. Janney Montgomery Scott LLC now owns 17,220 shares of the biotechnology company’s stock valued at $371,000 after purchasing an additional 4,095 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Exelixis by 5.1% in the first quarter. Principal Financial Group Inc. now owns 91,006 shares of the biotechnology company’s stock valued at $2,016,000 after purchasing an additional 4,445 shares during the last quarter. Hedge funds and other institutional investors own 80.92% of the company’s stock.

Exelixis Company Profile

Exelixis, Inc, a biotechnology company, engages in the discovery, development, and commercialization of new medicines to enhance care and outcomes for people with cancer. The company's products include CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of patients with progressive and metastatic medullary thyroid cancer.

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Analyst Recommendations for Exelixis (NASDAQ:EXEL)

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