Stifel Nicolaus reissued their hold rating on shares of Exelixis, Inc. (NASDAQ:EXEL) in a research note released on Tuesday, October 17th. They currently have a $26.00 target price on the biotechnology company’s stock.
EXEL has been the subject of a number of other reports. Needham & Company LLC reaffirmed a buy rating and set a $30.00 price target (up from $28.00) on shares of Exelixis in a report on Tuesday, September 12th. Piper Jaffray Companies restated a buy rating and issued a $29.00 price target on shares of Exelixis in a research report on Thursday, August 3rd. Cann restated a hold rating on shares of Exelixis in a report on Monday, October 16th. Royal Bank Of Canada initiated coverage on Exelixis in a research note on Thursday, September 14th. They set an outperform rating and a $32.00 target price for the company. Finally, Leerink Swann downgraded Exelixis from an outperform rating to a market perform rating and decreased their price target for the stock from $34.00 to $28.00 in a report on Friday, September 22nd. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $31.38.
Shares of Exelixis (NASDAQ:EXEL) traded up 2.74% during mid-day trading on Tuesday, hitting $26.63. 2,969,016 shares of the stock traded hands. Exelixis has a one year low of $10.04 and a one year high of $32.50. The company has a market cap of $7.83 billion, a P/E ratio of 134.49 and a beta of 1.91. The stock has a 50 day moving average price of $26.15 and a 200-day moving average price of $24.29.
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 Zacks’ consensus estimate of $0.04 by $0.02. Exelixis had a return on equity of 80.43% and a net margin of 18.20%. The business had revenue of $99.01 million during the quarter, compared to analysts’ expectations of $85.27 million. During the same period in the prior year, the firm posted ($0.15) EPS. Exelixis’s quarterly revenue was up 173.1% compared to the same quarter last year. On average, analysts forecast that Exelixis will post $0.28 earnings per share for the current fiscal year.
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In related news, Director Stelios Papadopoulos sold 200,000 shares of the business’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $27.68, for a total transaction of $5,536,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Patrick J. Haley sold 60,640 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $27.21, for a total transaction of $1,650,014.40. The disclosure for this sale can be found here. Insiders sold 970,152 shares of company stock worth $25,923,457 in the last 90 days. Corporate 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 in the second quarter worth about $144,000. Meeder Asset Management Inc. purchased a new stake in Exelixis in the first quarter worth about $170,000. Fisher Asset Management LLC purchased a new stake in Exelixis in the third quarter worth about $213,000. Wetherby Asset Management Inc. purchased a new stake in Exelixis in the second quarter worth about $218,000. Finally, Caxton Associates LP purchased a new stake in Exelixis in the second quarter worth about $227,000. Institutional investors and hedge funds own 78.40% of the company’s stock.
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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