Exelixis’ (NASDAQ:EXEL) “Hold” Rating Reaffirmed at Cann

Cann reiterated their hold rating on shares of Exelixis (NASDAQ:EXEL) in a report released on Thursday, January 4th.

“Exelixis announced today an amendment to the protocol for the phase Ib trial of Cabometyx (cabozantinib) in combination with atezolizumab (Tecentriq) in patients with locally advanced or metastatic solid tumors. Exelixis reported the amendment adds four new expansion cohorts to the trial, which will now include patients with non- small cell lung cancer (NSCLC) and castration-resistant prostate cancer (CRPC), in addition to previously included patients with renal cell carcinoma (RCC) and urothelial carcinoma (UC). The primary objective in the expansion stage of this trial remains to determine the objective response rate in each cohort. Exelixis confirmed the original trial protocol included four expansion cohorts, which will remain in the amended study unchanged.”,” Cann’s analyst wrote.

EXEL has been the subject of several other reports. Oppenheimer reaffirmed a hold rating on shares of Exelixis in a report on Thursday, January 4th. Zacks Investment Research raised Exelixis from a hold rating to a strong-buy rating and set a $35.00 target price for the company in a report on Tuesday, January 2nd. Stifel Nicolaus reaffirmed a hold rating and set a $26.00 target price on shares of Exelixis in a report on Tuesday, October 17th. Royal Bank of Canada upped their target price on Exelixis from $33.00 to $39.00 and gave the company an outperform rating in a report on Tuesday, October 17th. Finally, Needham & Company LLC upped their target price on Exelixis from $30.00 to $33.00 and gave the company a buy rating in a report on Tuesday, October 17th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Exelixis has a consensus rating of Buy and an average price target of $32.13.

Shares of Exelixis (NASDAQ:EXEL) traded down $0.19 during trading on Thursday, reaching $30.27. The company had a trading volume of 1,969,595 shares, compared to its average volume of 2,960,000. The company has a market capitalization of $8,960.00, a price-to-earnings ratio of 61.78, a P/E/G ratio of 0.86 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 announced its quarterly earnings data on Wednesday, November 1st. The biotechnology company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.18. The firm had revenue of $152.50 million during the quarter, compared to analyst estimates of $104.91 million. Exelixis had a return on equity of 105.47% and a net margin of 36.80%. Exelixis’s quarterly revenue was up 145.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.04) earnings per share. equities research analysts predict that Exelixis will post 0.49 EPS for the current fiscal year.

In related news, Director Alan M. Garber sold 15,000 shares of the stock in a transaction that occurred 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 directly owns 64,829 shares of the company’s stock, valued at approximately $1,964,318.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Jennison Associates LLC grew its holdings in Exelixis by 38.1% in the 4th quarter. Jennison Associates LLC now owns 4,228,761 shares of the biotechnology company’s stock worth $128,554,000 after buying an additional 1,167,758 shares in the last quarter. First Quadrant L P CA grew its holdings in Exelixis by 3.6% in the 4th quarter. First Quadrant L P CA now owns 416,956 shares of the biotechnology company’s stock worth $12,675,000 after buying an additional 14,428 shares in the last quarter. James Investment Research Inc. grew its holdings in Exelixis by 21.4% in the 4th quarter. James Investment Research Inc. now owns 74,655 shares of the biotechnology company’s stock worth $2,270,000 after buying an additional 13,155 shares in the last quarter. Strs Ohio bought a new position in Exelixis in the 4th quarter worth approximately $7,144,000. Finally, State of Alaska Department of Revenue bought a new position in Exelixis in the 4th quarter worth approximately $647,000. 80.92% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Exelixis (NASDAQ:EXEL)

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