Exelixis Inc. (EXEL) Raised to Overweight at Piper Jaffray Cos.
Exelixis Inc. (NASDAQ:EXEL) was upgraded by analysts at Piper Jaffray Cos. from a “neutral” rating to an “overweight” rating in a report issued on Monday, The Fly reports.
Other analysts also recently issued reports about the company. S&P Equity Research lifted their price objective on Exelixis from $13.41 to $15.57 in a report on Wednesday, September 28th. Zacks Investment Research upgraded Exelixis from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Tuesday, September 13th. Stifel Nicolaus lifted their price objective on Exelixis from $10.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Leerink Swann restated a “buy” rating and issued a $10.00 price objective on shares of Exelixis in a report on Tuesday, July 19th. Finally, Cowen and Company restated a “buy” rating on shares of Exelixis in a report on Wednesday, August 10th. Six investment analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average price target of $13.51.
Exelixis (NASDAQ:EXEL) opened at 12.95 on Monday. Exelixis has a 52 week low of $3.55 and a 52 week high of $15.58. The stock has a 50 day moving average of $12.62 and a 200 day moving average of $8.24. The company’s market cap is $2.98 billion.
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Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Wednesday, August 3rd. The biotechnology company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.11. The firm earned $36.25 million during the quarter, compared to the consensus estimate of $16.76 million. The business’s revenue was up 353.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.22) earnings per share. Equities research analysts predict that Exelixis will post ($0.61) EPS for the current fiscal year.
In other Exelixis news, insider Gisela Schwab sold 42,338 shares of the business’s stock in a transaction dated Thursday, August 4th. The shares were 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 directly owns 174,354 shares in the company, valued at $1,917,894. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.90% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in EXEL. Bank of Montreal Can purchased a new position in shares of Exelixis during the second quarter worth approximately $744,000. Handelsbanken Fonder AB purchased a new position in shares of Exelixis during the second quarter worth approximately $547,000. Creative Planning increased its position in shares of Exelixis by 12.3% in the second quarter. Creative Planning now owns 52,930 shares of the biotechnology company’s stock worth $413,000 after buying an additional 5,784 shares in the last quarter. Iguana Healthcare Management LLC purchased a new position in shares of Exelixis during the first quarter worth approximately $581,000. Finally, Bellevue Group AG purchased a new position in shares of Exelixis during the first quarter worth approximately $680,000. Institutional investors and hedge funds 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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