Leerink Swann Reaffirms “Outperform” Rating for Exelixis Inc. (EXEL)
Exelixis Inc. (NASDAQ:EXEL)‘s stock had its “outperform” rating reissued by Leerink Swann in a report released on Tuesday. They presently have a $12.00 target price on the biotechnology company’s stock. Leerink Swann’s target price would suggest a potential downside of 12.02% from the company’s current price.
A number of other research analysts have also issued reports on EXEL. William Blair reiterated an “outperform” rating on shares of Exelixis in a report on Thursday, September 15th. Cowen and Company reiterated an “outperform” rating on shares of Exelixis in a report on Tuesday, June 7th. Stifel Nicolaus lifted their target price on Exelixis from $12.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, September 15th. Piper Jaffray Cos. reiterated a “neutral” rating and issued a $8.00 target price (up from $5.00) on shares of Exelixis in a report on Thursday, August 4th. Finally, Zacks Investment Research upgraded Exelixis from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a report on Tuesday, September 13th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Exelixis currently has a consensus rating of “Buy” and an average price target of $11.10.
Shares of Exelixis (NASDAQ:EXEL) traded up 3.67% on Tuesday, reaching $14.14. The company had a trading volume of 2,278,314 shares. The company’s market capitalization is $3.26 billion. The company has a 50 day moving average of $11.31 and a 200-day moving average of $7.30. Exelixis has a 52 week low of $3.55 and a 52 week high of $14.28.
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Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.11. The firm had revenue of $36.25 million for the quarter, compared to analysts’ expectations of $16.76 million. During the same quarter in the prior year, the business earned ($0.22) earnings per share. The company’s quarterly revenue was up 353.7% on a year-over-year basis. Analysts predict 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 Exelixis stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $11.00, for a total transaction of $465,718.00. Following the completion of the sale, the insider now directly owns 174,354 shares of the company’s stock, valued at approximately $1,917,894. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.90% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. increased its stake in shares of Exelixis by 2.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 796,015 shares of the biotechnology company’s stock worth $6,217,000 after buying an additional 15,522 shares during the period. Stifel Financial Corp boosted its stake 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 during the period. Amalgamated Bank boosted its stake in Exelixis by 2.5% in the second quarter. Amalgamated Bank now owns 24,322 shares of the biotechnology company’s stock worth $259,000 after buying an additional 591 shares during the period. American Century Companies Inc. boosted its stake in Exelixis by 11.2% in the second quarter. American Century Companies Inc. now owns 366,922 shares of the biotechnology company’s stock worth $2,866,000 after buying an additional 37,006 shares during the period. Finally, Legal & General Group Plc boosted its stake in Exelixis by 22.4% in the second quarter. Legal & General Group Plc now owns 40,997 shares of the biotechnology company’s stock worth $319,000 after buying an additional 7,500 shares during the period. 81.80% of the stock is owned by institutional investors.
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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