Exelixis (NASDAQ:EXEL) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Wednesday.
A number of other research firms have also recently weighed in on EXEL. Oppenheimer reissued a “hold” rating on shares of Exelixis in a report on Wednesday, January 17th. William Blair reissued an “outperform” rating on shares of Exelixis in a report on Monday, February 12th. UBS raised Exelixis from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 27th. Cann raised Exelixis from a “market perform” rating to an “outperform” rating and set a $40.00 price target for the company in a report on Tuesday, February 27th. They noted that the move was a valuation call. Finally, Stifel Nicolaus boosted their price target on Exelixis from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. Exelixis presently has a consensus rating of “Hold” and an average price target of $32.80.
EXEL opened at $21.56 on Wednesday. The firm has a market cap of $6.06 billion, a price-to-earnings ratio of 24.59, a PEG ratio of 0.52 and a beta of 2.10. Exelixis has a one year low of $20.53 and a one year high of $21.01.
Exelixis (NASDAQ:EXEL) last posted its earnings results on Monday, February 26th. The biotechnology company reported $0.12 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.12. The company had revenue of $120.10 million for the quarter, compared to the consensus estimate of $120.25 million. Exelixis had a return on equity of 77.39% and a net margin of 43.39%. Exelixis’s quarterly revenue was up 54.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.12 earnings per share. equities analysts predict that Exelixis will post 0.86 EPS for the current year.
In related news, Director Vincent T. Marchesi sold 15,000 shares of the company’s stock in a transaction on Friday, May 11th. The stock was sold at an average price of $19.03, for a total value of $285,450.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Morrissey sold 90,000 shares of the company’s stock in a transaction on Wednesday, April 11th. The shares were sold at an average price of $20.78, for a total value of $1,870,200.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 337,627 shares of company stock valued at $7,675,070. Insiders own 4.80% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. TLP Group LLC acquired a new position in Exelixis in the first quarter valued at $179,000. Sigma Planning Corp acquired a new position in Exelixis in the fourth quarter valued at $208,000. American International Group Inc. acquired a new position in Exelixis in the fourth quarter valued at $208,000. Klingenstein Fields & Co. LLC acquired a new position in Exelixis in the fourth quarter valued at $213,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in Exelixis in the first quarter valued at $215,000. Hedge funds and other institutional investors own 80.21% of the company’s stock.
Exelixis, Inc, a biotechnology company, engages in the discovery, development, and commercialization of new medicines to enhance care and outcomes for people with cancer. The company's products include CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of patients with progressive and metastatic medullary thyroid cancer.
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