Oppenheimer Reaffirms “Hold” Rating for Exelixis (NASDAQ:EXEL)

Exelixis (NASDAQ:EXEL)‘s stock had its “hold” rating reissued by equities researchers at Oppenheimer in a research report issued on Tuesday, December 19th.

Other research analysts have also recently issued research reports about the company. TheStreet raised Exelixis from a “c+” rating to a “b-” rating in a research note on Wednesday, October 18th. Zacks Investment Research raised Exelixis from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Wednesday, October 18th. Needham & Company LLC increased their price objective on Exelixis from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, October 17th. Royal Bank of Canada increased their price objective on Exelixis from $33.00 to $39.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 17th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $26.00 target price on shares of Exelixis in a research report on Tuesday, October 17th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $32.13.

Exelixis (NASDAQ EXEL) traded up $0.30 during midday trading on Tuesday, hitting $30.38. The stock had a trading volume of 2,030,000 shares, compared to its average volume of 2,550,000. The company has a market capitalization of $8,990.00, a price-to-earnings ratio of 62.00, a price-to-earnings-growth ratio of 0.90 and a beta of 1.88. Exelixis has a 1 year low of $16.72 and a 1 year high of $32.50.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Wednesday, November 1st. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.18. Exelixis had a return on equity of 105.47% and a net margin of 36.80%. The business had revenue of $152.50 million for the quarter, compared to the consensus estimate of $104.91 million. During the same period in the prior year, the business posted ($0.04) earnings per share. The company’s quarterly revenue was up 145.2% compared to the same quarter last year. research analysts forecast that Exelixis will post 0.49 earnings per share for the current year.

In related news, Director Alan M. Garber sold 15,000 shares of the firm’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $30.30, for a total value of $454,500.00. Following the completion of the transaction, the director now owns 64,829 shares in the company, valued at approximately $1,964,318.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.10% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EXEL. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Exelixis during the 3rd quarter valued at about $120,000. Fisher Asset Management LLC purchased a new position in shares of Exelixis during the 3rd quarter valued at about $213,000. Caxton Associates LP purchased a new position in shares of Exelixis during the 2nd quarter valued at about $227,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Exelixis during the 3rd quarter valued at about $236,000. Finally, CIBC Asset Management Inc purchased a new position in shares of Exelixis during the 3rd quarter valued at about $238,000. Institutional investors and hedge funds own 81.15% of the company’s stock.

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About Exelixis

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.

Analyst Recommendations for Exelixis (NASDAQ:EXEL)

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