Exelixis Inc. (EXEL) Earns Positive Rating from Leerink Swann
Exelixis Inc. (NASDAQ:EXEL)‘s stock had its “positive” rating reiterated by equities researchers at Leerink Swann in a research report issued on Friday. They currently have a $15.00 price target on the biotechnology company’s stock. Leerink Swann’s price objective would suggest a potential upside of 21.26% from the company’s current price.
EXEL has been the subject of a number of other reports. S&P Equity Research lifted their target price on shares of Exelixis from $13.41 to $15.57 in a research note on Wednesday, September 28th. Stifel Nicolaus boosted their price objective on shares of Exelixis from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, September 15th. William Blair restated an “outperform” rating on shares of Exelixis in a research note on Thursday, September 15th. Piper Jaffray Cos. restated a “neutral” rating and issued a $8.00 price objective (up from $5.00) on shares of Exelixis in a research note on Thursday, August 4th. Finally, Zacks Investment Research upgraded shares of Exelixis from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Tuesday, September 13th. Six analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average price target of $13.51.
Exelixis (NASDAQ:EXEL) traded down 1.120% during midday trading on Friday, reaching $12.805. 15,046,793 shares of the company were exchanged. The firm’s market cap is $2.95 billion. Exelixis has a one year low of $3.55 and a one year high of $15.58. The firm’s 50-day moving average is $12.62 and its 200-day moving average is $8.24.
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Exelixis (NASDAQ:EXEL) last posted its earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.11. The business earned $36.25 million during the quarter, compared to analyst estimates of $16.76 million. Exelixis’s revenue was up 353.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.22) earnings per share. On average, equities analysts expect that Exelixis will post ($0.61) EPS for the current fiscal year.
In related news, insider Gisela Schwab sold 42,338 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $11.00, for a total transaction of $465,718.00. Following the completion of the transaction, the insider now directly owns 174,354 shares in the company, valued at approximately $1,917,894. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 5.90% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its position in Exelixis by 925.8% in the third quarter. BNP Paribas Arbitrage SA now owns 90,581 shares of the biotechnology company’s stock valued at $1,159,000 after buying an additional 81,751 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Exelixis by 2.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 796,015 shares of the biotechnology company’s stock valued at $6,217,000 after buying an additional 15,522 shares during the last quarter. 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 valued at $138,000 after buying an additional 3,600 shares during the last quarter. Amalgamated Bank boosted its position in Exelixis by 2.5% in the second quarter. Amalgamated Bank now owns 24,322 shares of the biotechnology company’s stock valued at $259,000 after buying an additional 591 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Exelixis by 11.2% in the second quarter. American Century Companies Inc. now owns 366,922 shares of the biotechnology company’s stock valued at $2,866,000 after buying an additional 37,006 shares during 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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