Exelixis (EXEL) Downgraded to Strong Sell at BidaskClub

BidaskClub cut shares of Exelixis (NASDAQ:EXEL) from a sell rating to a strong sell rating in a research note published on Wednesday morning.

A number of other equities research analysts have also commented on EXEL. Oppenheimer reaffirmed a hold rating on shares of Exelixis in a research note on Tuesday, December 19th. SunTrust Banks reaffirmed a buy rating and issued a $38.00 price objective on shares of Exelixis in a research note on Thursday, December 21st. Zacks Investment Research raised shares of Exelixis from a hold rating to a strong-buy rating and set a $35.00 price objective on the stock in a research note on Tuesday, January 2nd. Cann reaffirmed a hold rating on shares of Exelixis in a research note on Thursday, January 4th. Finally, William Blair reaffirmed an outperform rating on shares of Exelixis in a research note on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $34.10.

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NASDAQ:EXEL opened at $21.09 on Wednesday. Exelixis has a 52 week low of $18.03 and a 52 week high of $32.50. The firm has a market capitalization of $6,548.39, a PE ratio of 41.35 and a beta of 2.10.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Monday, February 26th. The biotechnology company reported $0.12 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.12. Exelixis had a net margin of 34.08% and a return on equity of 81.05%. The company had revenue of $120.10 million for the quarter, compared to analyst estimates of $120.25 million. During the same period in the prior year, the firm posted $0.12 EPS. The company’s quarterly revenue was up 54.8% on a year-over-year basis. sell-side analysts anticipate that Exelixis will post 0.54 earnings per share for the current year.

In related news, Director Alan M. Garber sold 15,000 shares of the business’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $30.30, for a total transaction of $454,500.00. Following the transaction, the director now owns 64,829 shares in the company, valued at approximately $1,964,318.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Patrick J. Haley sold 45,029 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $27.13, for a total transaction of $1,221,636.77. The disclosure for this sale can be found here. Insiders have sold a total of 120,029 shares of company stock worth $3,158,287 in the last quarter. 5.10% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in EXEL. American Century Companies Inc. lifted its position in shares of Exelixis by 426.4% during the 4th quarter. American Century Companies Inc. now owns 1,469,945 shares of the biotechnology company’s stock valued at $44,686,000 after acquiring an additional 1,190,691 shares during the period. Jennison Associates LLC raised its holdings 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 during the last quarter. Smith Asset Management Group LP acquired a new position in Exelixis during the fourth quarter worth $26,323,000. Wells Fargo & Company MN raised its holdings in Exelixis by 36.5% during the third quarter. Wells Fargo & Company MN now owns 3,042,694 shares of the biotechnology company’s stock worth $73,723,000 after buying an additional 814,177 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new position in Exelixis during the fourth quarter worth $17,480,000. Institutional investors own 80.50% of the company’s stock.

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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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