Exelixis (NASDAQ:EXEL) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Tuesday, ValuEngine reports.

EXEL has been the subject of several other research reports. BMO Capital Markets cut their target price on Exelixis from $23.00 to $19.00 and set a “market perform” rating for the company in a research note on Tuesday, October 8th. Bank of America started coverage on Exelixis in a research note on Wednesday, November 13th. They issued a “buy” rating and a $22.00 target price for the company. TheStreet lowered Exelixis from a “b-” rating to a “c” rating in a research note on Friday, November 22nd. Guggenheim cut their target price on Exelixis from $33.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Finally, BidaskClub lowered Exelixis from a “hold” rating to a “sell” rating in a research note on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $25.11.

Shares of NASDAQ EXEL opened at $16.70 on Tuesday. Exelixis has a 12 month low of $15.02 and a 12 month high of $25.31. The company has a current ratio of 6.89, a quick ratio of 6.80 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 2.19 and a beta of 1.78. The business has a 50-day moving average of $16.45 and a 200-day moving average of $19.12.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.12. The business had revenue of $271.70 million during the quarter, compared to analyst estimates of $228.17 million. Exelixis had a return on equity of 25.55% and a net margin of 64.05%. Exelixis’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 earnings per share. On average, analysts predict that Exelixis will post 0.97 earnings per share for the current year.

In other Exelixis news, CEO Michael Morrissey sold 37,227 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $19.20, for a total value of $714,758.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Gisela Schwab sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $17.87, for a total value of $536,100.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 144,894 shares of company stock valued at $2,539,716. 4.50% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its position in Exelixis by 40.7% in the second quarter. Renaissance Technologies LLC now owns 13,454,473 shares of the biotechnology company’s stock valued at $287,522,000 after purchasing an additional 3,889,200 shares during the last quarter. State Street Corp lifted its position in Exelixis by 2.9% in the third quarter. State Street Corp now owns 10,450,777 shares of the biotechnology company’s stock valued at $184,822,000 after purchasing an additional 298,036 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Exelixis by 20.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 6,143,165 shares of the biotechnology company’s stock valued at $131,279,000 after purchasing an additional 1,051,976 shares during the last quarter. First Trust Advisors LP lifted its position in Exelixis by 8.0% in the second quarter. First Trust Advisors LP now owns 5,865,637 shares of the biotechnology company’s stock valued at $125,349,000 after purchasing an additional 433,202 shares during the last quarter. Finally, Orbimed Advisors LLC lifted its position in Exelixis by 39.7% in the second quarter. Orbimed Advisors LLC now owns 3,912,900 shares of the biotechnology company’s stock valued at $83,619,000 after purchasing an additional 1,111,000 shares during the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.

About Exelixis

Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. 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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