Exelixis, Inc. (NASDAQ:EXEL) had its price objective boosted by stock analysts at Needham & Company LLC from $30.00 to $33.00 in a research report issued to clients and investors on Tuesday, October 17th, MarketBeat Ratings reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 23.92% from the stock’s current price.
Several other research analysts have also commented on EXEL. TheStreet upgraded Exelixis from a “c” rating to a “b-” rating in a research report on Monday, August 7th. William Blair restated an “outperform” rating on shares of Exelixis in a research report on Thursday, July 27th. Cowen and Company restated an “outperform” rating on shares of Exelixis in a research report on Thursday, August 10th. Stifel Nicolaus restated a “hold” rating and set a $26.00 target price on shares of Exelixis in a research report on Tuesday, October 17th. Finally, Royal Bank Of Canada boosted their target price on Exelixis from $33.00 to $39.00 and gave the company an “outperform” rating in a research report on Tuesday, October 17th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Exelixis currently has an average rating of “Buy” and an average price target of $31.38.
Shares of Exelixis (NASDAQ:EXEL) traded up 2.74% during trading on Tuesday, hitting $26.63. The company had a trading volume of 2,969,016 shares. Exelixis has a 12-month low of $10.04 and a 12-month high of $32.50. The stock has a market capitalization of $7.83 billion, a price-to-earnings ratio of 134.49 and a beta of 1.91. The stock has a 50-day moving average of $26.11 and a 200 day moving average of $24.35.
Exelixis (NASDAQ:EXEL) last issued its earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.02. The firm had revenue of $99.01 million for the quarter, compared to analysts’ expectations of $85.27 million. Exelixis had a return on equity of 80.43% and a net margin of 18.20%. The business’s revenue was up 173.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.15) earnings per share. On average, analysts predict that Exelixis will post $0.28 EPS for the current fiscal year.
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In related news, CFO Christopher J. Senner sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $26.79, for a total value of $2,679,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stelios Papadopoulos sold 72,210 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $27.76, for a total value of $2,004,549.60. The disclosure for this sale can be found here. Insiders sold 970,152 shares of company stock valued at $25,923,457 in the last three months. 5.10% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. First Quadrant L P CA acquired a new position in shares of Exelixis during the second quarter worth $144,000. Meeder Asset Management Inc. acquired a new position in shares of Exelixis during the first quarter worth $170,000. Fisher Asset Management LLC acquired a new position in shares of Exelixis during the third quarter worth $213,000. Wetherby Asset Management Inc. purchased a new stake in shares of Exelixis during the second quarter valued at $218,000. Finally, Caxton Associates LP purchased a new stake in shares of Exelixis during the second quarter valued at $227,000. 78.40% of the stock is currently owned by institutional investors and hedge funds.
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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