Exelixis (NASDAQ:EXEL) Lowered to Hold at BidaskClub

BidaskClub cut shares of Exelixis (NASDAQ:EXEL) from a buy rating to a hold rating in a report issued on Friday, January 19th.

Other equities research analysts have also issued reports about the company. Zacks Investment Research raised Exelixis from a hold rating to a buy rating and set a $29.00 price objective for the company in a research note on Tuesday, October 10th. Royal Bank of Canada increased 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. Needham & Company LLC reiterated a buy rating and set a $30.00 price objective on shares of Exelixis in a report on Monday, October 2nd. TheStreet raised Exelixis from a c+ rating to a b- rating in a research report on Wednesday, October 18th. Finally, Oppenheimer reaffirmed a hold rating on shares of Exelixis in a research report on Tuesday, December 19th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Exelixis currently has a consensus rating of Buy and an average target price of $32.13.

Shares of Exelixis (EXEL) traded up $0.84 during midday trading on Friday, reaching $29.05. The company’s stock had a trading volume of 3,055,997 shares, compared to its average volume of 2,890,000. The company has a market cap of $8,590.00, a price-to-earnings ratio of 59.29, a P/E/G ratio of 0.79 and a beta of 1.84. Exelixis has a 52-week low of $18.03 and a 52-week high of $32.50.

In related news, Director Alan M. Garber sold 15,000 shares of Exelixis stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $30.30, for a total transaction of $454,500.00. Following the sale, the director now directly owns 64,829 shares of the company’s stock, valued at $1,964,318.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 5.10% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC grew its position in Exelixis by 2.0% during the second quarter. FMR LLC now owns 43,748,695 shares of the biotechnology company’s stock worth $1,077,530,000 after buying an additional 857,452 shares in the last quarter. Vanguard Group Inc. grew its position in Exelixis by 7.2% during the second quarter. Vanguard Group Inc. now owns 25,441,964 shares of the biotechnology company’s stock worth $626,635,000 after buying an additional 1,706,893 shares in the last quarter. Matrix Capital Management Company LP grew its position in Exelixis by 8.8% during the second quarter. Matrix Capital Management Company LP now owns 15,117,460 shares of the biotechnology company’s stock worth $372,343,000 after buying an additional 1,225,000 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Exelixis by 13.1% during the second quarter. Goldman Sachs Group Inc. now owns 7,059,232 shares of the biotechnology company’s stock worth $173,869,000 after buying an additional 818,782 shares in the last quarter. Finally, Jennison Associates LLC grew its position in Exelixis by 38.1% during the fourth 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. 81.43% of the stock is currently owned by institutional investors and hedge funds.

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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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