Exelixis (NASDAQ:EXEL)‘s stock had its “buy” rating reiterated by Piper Sandler in a research note issued to investors on Wednesday, TipRanks reports. They presently have a $23.00 price target on the biotechnology company’s stock. Piper Sandler’s price target would suggest a potential upside of 33.10% from the company’s current price.
EXEL has been the topic of several other research reports. SunTrust Banks initiated coverage on shares of Exelixis in a research note on Monday, January 13th. They issued a “buy” rating and a $31.00 price target on the stock. ValuEngine raised shares of Exelixis from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd. Bank of America reissued a “buy” rating and set a $21.00 target price (down previously from $22.00) on shares of Exelixis in a research report on Monday, January 13th. Barclays began coverage on shares of Exelixis in a research report on Wednesday, March 4th. They set an “overweight” rating and a $26.00 target price on the stock. Finally, Stifel Nicolaus lifted their price objective on shares of Exelixis from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $25.17.
EXEL stock opened at $17.28 on Wednesday. The company has a market capitalization of $4.84 billion, a PE ratio of 16.94, a P/E/G ratio of 1.46 and a beta of 1.41. Exelixis has a 12 month low of $13.67 and a 12 month high of $25.20. The firm’s 50-day moving average is $18.37 and its 200 day moving average is $17.82.
Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, February 25th. The biotechnology company reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.07. The company had revenue of $240.31 million for the quarter, compared to the consensus estimate of $240.49 million. Exelixis had a net margin of 33.17% and a return on equity of 20.83%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 EPS. As a group, analysts predict that Exelixis will post 0.56 earnings per share for the current fiscal year.
In related news, Director George A. Scangos sold 4,000 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $20.14, for a total value of $80,560.00. Following the completion of the transaction, the director now directly owns 1,034,031 shares in the company, valued at approximately $20,825,384.34. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Patrick J. Haley sold 4,318 shares of the business’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $15.37, for a total transaction of $66,367.66. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 702,457 shares of company stock valued at $13,556,952. Company insiders own 4.50% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Total Clarity Wealth Management Inc. acquired a new position in shares of Exelixis in the 4th quarter valued at $27,000. Manchester Financial Inc. acquired a new position in shares of Exelixis in the 4th quarter valued at $29,000. NWK Group Inc. acquired a new position in shares of Exelixis in the 4th quarter valued at $41,000. Huntington National Bank acquired a new position in shares of Exelixis in the 4th quarter valued at $52,000. Finally, Chevy Chase Trust Holdings Inc. acquired a new position in shares of Exelixis in the 4th quarter valued at $53,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.
Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. 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.
Further Reading: Beta
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