Exelixis Rating Increased to Overweight at Piper Jaffray (EXEL)
Exelixis (NASDAQ:EXEL) was upgraded by research analysts at Piper Jaffray from a “neutral” rating to an “overweight” rating in a report released on Monday, TheFlyOnTheWall.com reports.
Exelixis (NASDAQ:EXEL) traded up 11.09% on Monday, hitting $6.81. 6,301,577 shares of the company’s stock traded hands. Exelixis has a 52 week low of $4.32 and a 52 week high of $6.31. The stock has a 50-day moving average of $5.78 and a 200-day moving average of $5.30. The company’s market cap is $1.254 billion.
Exelixis (NASDAQ:EXEL) last announced its earnings results on Wednesday, October 30th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.01. The company had revenue of $5.50 million for the quarter, compared to the consensus estimate of $5.55 million. During the same quarter last year, the company posted ($0.20) earnings per share. Exelixis’s revenue was down 58.6% compared to the same quarter last year. Analysts expect that Exelixis will post $-1.32 EPS for the current fiscal year.
Separately, analysts at Maxim Group upgraded shares of Exelixis from a “hold” rating to a “buy” rating in a research note to investors on Tuesday, November 12th. They now have a $7.50 price target on the stock.
Exelixis, Inc (NASDAQ:EXEL) is a biotechnology company engaged in developing small molecule therapies for the treatment of cancer.
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