Exelixis Inc. (EXEL) Upgraded to “Overweight” at Piper Jaffray Cos.
Exelixis Inc. (NASDAQ:EXEL) was upgraded by equities researchers at Piper Jaffray Cos. from a “neutral” rating to an “overweight” rating in a research note issued on Monday.
A number of other research firms have also weighed in on EXEL. Leerink Swann reiterated a “buy” rating and issued a $10.00 price objective on shares of Exelixis in a research report on Tuesday, July 19th. Stifel Nicolaus lifted their price objective on shares of Exelixis from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, September 15th. Finally, Zacks Investment Research upgraded shares of Exelixis from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research report on Tuesday, September 13th. Six equities research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and a consensus target price of $13.51.
Exelixis (NASDAQ:EXEL) traded down 8.26% during trading on Monday, reaching $11.88. 8,577,268 shares of the company’s stock were exchanged. The firm’s market capitalization is $2.74 billion. 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 price of $12.62 and a 200 day moving average price of $8.24.
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Exelixis (NASDAQ:EXEL) last announced its earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.11. The business had revenue of $36.25 million for the quarter, compared to analysts’ expectations of $16.76 million. The business’s revenue was up 353.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.22) earnings per share. Equities research analysts forecast that Exelixis will post ($0.61) earnings per share for the current fiscal year.
In other Exelixis news, insider Gisela Schwab sold 42,338 shares of the business’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 sale, the insider now directly owns 174,354 shares in the company, valued at approximately $1,917,894. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.90% of the company’s stock.
Several large investors have recently modified their holdings of EXEL. Amalgamated Bank raised its stake in shares of 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. Rathbone Brothers plc raised its stake in shares of Exelixis by 5.3% in the second quarter. Rathbone Brothers plc now owns 20,000 shares of the biotechnology company’s stock valued at $156,000 after buying an additional 1,000 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Exelixis by 0.8% in the second quarter. ProShare Advisors LLC now owns 198,085 shares of the biotechnology company’s stock valued at $1,547,000 after buying an additional 1,588 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of Exelixis by 11.3% in the second quarter. Prudential Financial Inc. now owns 19,643 shares of the biotechnology company’s stock valued at $153,000 after buying an additional 2,000 shares during the last quarter. Finally, Commonwealth Equity Services Inc raised its stake in shares of Exelixis by 5.5% in the second quarter. Commonwealth Equity Services Inc now owns 43,669 shares of the biotechnology company’s stock valued at $341,000 after buying an additional 2,275 shares during the last quarter. 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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