Exelixis Inc. (EXEL) Earns Outperform Rating from Cowen and Company
Exelixis Inc. (NASDAQ:EXEL)‘s stock had its “outperform” rating restated by stock analysts at Cowen and Company in a report issued on Wednesday.
A number of other analysts also recently issued reports on EXEL. William Blair restated an “outperform” rating on shares of Exelixis in a report on Thursday, September 15th. Leerink Swann reaffirmed an “outperform” rating and set a $12.00 price objective (up previously from $10.00) on shares of Exelixis in a research note on Thursday, August 4th. Piper Jaffray Cos. raised shares of Exelixis from a “neutral” rating to an “overweight” rating in a research note on Monday. Finally, Stifel Nicolaus boosted their price objective on shares of Exelixis from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, September 15th. Six analysts have rated the stock with a buy rating, Exelixis presently has a consensus rating of “Buy” and an average target price of $13.51.
Exelixis (NASDAQ:EXEL) opened at 12.69 on Wednesday. The company’s market cap is $2.92 billion. The firm’s 50-day moving average is $12.70 and its 200-day moving average is $8.39. Exelixis has a 52 week low of $3.55 and a 52 week high of $15.58.
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Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.11. The firm had revenue of $36.25 million for the quarter, compared to the consensus estimate of $16.76 million. During the same period in the previous year, the business earned ($0.22) earnings per share. The firm’s revenue for the quarter was up 353.7% on a year-over-year basis. On average, analysts expect 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 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 transaction, 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 legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 5.90% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Aperio Group LLC increased its stake in Exelixis by 4.1% in the first quarter. Aperio Group LLC now owns 87,515 shares of the biotechnology company’s stock worth $350,000 after buying an additional 3,410 shares in the last quarter. Pacad Investment Ltd. purchased a new position in shares of Exelixis during the first quarter worth about $406,000. BlackRock Group LTD boosted its position in shares of Exelixis by 12.4% in the first quarter. BlackRock Group LTD now owns 242,999 shares of the biotechnology company’s stock worth $972,000 after buying an additional 26,863 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Exelixis by 2.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 5,329,318 shares of the biotechnology company’s stock worth $21,317,000 after buying an additional 127,342 shares during the last quarter. Finally, ING Groep NV purchased a new position in shares of Exelixis during the first quarter worth about $359,000. 81.80% of the stock is currently owned by hedge funds and other 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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