Exelixis, Inc. (NASDAQ:EXEL)‘s stock had its “hold” rating reaffirmed by equities research analysts at Oppenheimer Holdings, Inc. in a research report issued to clients and investors on Monday, October 16th.
Other equities research analysts also recently issued research reports about the company. Cann reissued a “hold” rating on shares of Exelixis in a report on Monday, October 16th. Leerink Swann cut Exelixis from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $34.00 to $28.00 in a research note on Friday, September 22nd. Piper Jaffray Companies restated a “buy” rating and issued a $29.00 price objective on shares of Exelixis in a research note on Thursday, August 3rd. Stifel Nicolaus restated a “hold” rating and issued a $26.00 price objective on shares of Exelixis in a research note on Thursday, August 3rd. Finally, SunTrust Banks, Inc. raised their price objective on Exelixis from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, October 16th. Six 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. Exelixis currently has a consensus rating of “Buy” and a consensus target price of $31.38.
Shares of Exelixis (NASDAQ:EXEL) opened at 25.92 on Monday. Exelixis has a one year low of $10.04 and a one year high of $32.50. The company has a market capitalization of $7.62 billion, a PE ratio of 130.91 and a beta of 1.91. The company has a 50-day moving average of $26.15 and a 200-day moving average of $24.29.
Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02. The business had revenue of $99.01 million during 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 company’s quarterly revenue was up 173.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.15) earnings per share. On average, analysts anticipate that Exelixis will post $0.28 earnings per share for the current year.
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In related news, CFO Christopher J. Senner sold 100,000 shares of Exelixis stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $26.79, for a total transaction of $2,679,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stelios Papadopoulos sold 200,000 shares of Exelixis stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $27.68, for a total value of $5,536,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 970,152 shares of company stock valued at $25,923,457. 5.10% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Prudential Financial Inc. raised its position in Exelixis by 262.0% during the second quarter. Prudential Financial Inc. now owns 627,530 shares of the biotechnology company’s stock valued at $15,456,000 after acquiring an additional 454,197 shares in the last quarter. BlackRock Inc. increased its position in shares of Exelixis by 33,678.5% in the first quarter. BlackRock Inc. now owns 19,155,466 shares of the biotechnology company’s stock valued at $415,099,000 after buying an additional 19,098,757 shares in the last quarter. GAM Holding AG purchased a new stake in shares of Exelixis in the second quarter valued at approximately $1,256,000. Credit Suisse AG increased its position in shares of Exelixis by 20.1% in the first quarter. Credit Suisse AG now owns 768,110 shares of the biotechnology company’s stock valued at $16,646,000 after buying an additional 128,398 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its position in shares of Exelixis by 26.6% in the second quarter. Meeder Asset Management Inc. now owns 9,957 shares of the biotechnology company’s stock valued at $245,000 after buying an additional 2,091 shares in the last quarter. Institutional investors own 78.40% of the company’s stock.
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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