Exelixis Inc. (EXEL) Earns “Outperform” Rating from Leerink Swann
Exelixis Inc. (NASDAQ:EXEL)‘s stock had its “outperform” rating reaffirmed by stock analysts at Leerink Swann in a research note issued to investors on Tuesday. They presently have a $12.00 price target on the biotechnology company’s stock. Leerink Swann’s target price points to a potential downside of 12.02% from the stock’s current price.
A number of other research analysts also recently commented on EXEL. Cowen and Company reaffirmed a “buy” rating on shares of Exelixis in a research note on Tuesday, May 24th. Stifel Nicolaus upped their price objective on shares of Exelixis from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Piper Jaffray Cos. reissued a “neutral” rating and set a $8.00 target price (up previously from $5.00) on shares of Exelixis in a research report on Thursday, August 4th. Zacks Investment Research raised shares of Exelixis from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Tuesday, September 13th. Finally, William Blair reissued an “outperform” rating on shares of Exelixis in a research report on Thursday, September 15th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $11.10.
Exelixis (NASDAQ:EXEL) traded up 3.409% during mid-day trading on Tuesday, reaching $14.105. 3,087,299 shares of the company’s stock were exchanged. Exelixis has a 52 week low of $3.55 and a 52 week high of $14.28. The company’s 50 day moving average price is $11.31 and its 200-day moving average price is $7.30. The company’s market capitalization is $3.25 billion.
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Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Wednesday, August 3rd. The biotechnology company reported ($0.16) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.11. The company had revenue of $36.25 million for the quarter, compared to analyst estimates of $16.76 million. During the same period in the prior year, the company earned ($0.22) EPS. The company’s revenue was up 353.7% compared to the same quarter last year. On average, equities research analysts expect that Exelixis will post ($0.65) earnings per share for the current fiscal year.
In other Exelixis news, insider Gisela Schwab sold 42,338 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $11.00, for a total value of $465,718.00. Following the completion of the transaction, the insider now owns 174,354 shares in the company, valued at approximately $1,917,894. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.90% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Seven Eight Capital LLC bought a new position in Exelixis during the second quarter worth $105,000. GSA Capital Partners LLP bought a new position in Exelixis during the second quarter worth $117,000. Acrospire Investment Management LLC boosted its position in Exelixis by 444.4% in the second quarter. Acrospire Investment Management LLC now owns 15,253 shares of the biotechnology company’s stock worth $119,000 after buying an additional 12,451 shares in the last quarter. Legal & General Group Plc boosted its position in Exelixis by 11.4% in the first quarter. Legal & General Group Plc now owns 33,497 shares of the biotechnology company’s stock worth $136,000 after buying an additional 3,440 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in Exelixis by 25.7% in the second quarter. Stifel Financial Corp now owns 17,600 shares of the biotechnology company’s stock worth $138,000 after buying an additional 3,600 shares in the last quarter. Hedge funds and other institutional investors own 81.80% of the company’s stock.
Exelixis Company Profile
Exelixis, Inc is a biopharmaceutical company. The Company is engaged in developing small molecule therapies for the treatment of cancer. It focuses on the development and commercialization of cabozantinib, an inhibitor of multiple receptor tyrosine kinases, in various tumor indications. Cabozantinib is indicated for the treatment of progressive, metastatic medullary thyroid cancer, and is sold under the brand name COMETRIQ.
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