Exelixis Inc. (EXEL) Given Average Recommendation of “Buy” by Brokerages
Exelixis Inc. (NASDAQ:EXEL) has earned an average recommendation of “Buy” from the seven research firms that are currently covering the firm. Six research analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $14.89.
A number of equities research analysts have commented on EXEL shares. Leerink Swann restated a “buy” rating and issued a $10.00 target price on shares of Exelixis in a research report on Tuesday, July 19th. Piper Jaffray Cos. upgraded Exelixis from a “neutral” rating to an “overweight” rating in a report on Monday. Stifel Nicolaus boosted their price objective on Exelixis from $12.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, September 15th. Finally, Cowen and Company reiterated an “outperform” rating on shares of Exelixis in a report on Wednesday.
Exelixis (NASDAQ:EXEL) traded up 0.08% during midday trading on Thursday, hitting $11.94. The company’s stock had a trading volume of 4,084,755 shares. The company’s 50-day moving average is $12.71 and its 200 day moving average is $8.41. Exelixis has a one year low of $3.55 and a one year high of $15.58. The company’s market cap is $2.75 billion.
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Exelixis (NASDAQ:EXEL) last posted its earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.16) 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 analysts’ expectations of $16.76 million. During the same quarter in the prior year, the firm earned ($0.22) EPS. Exelixis’s revenue for the quarter was up 353.7% compared to the same quarter last year. On average, analysts predict that Exelixis will post ($0.61) EPS for the current year.
In related news, insider Gisela Schwab sold 42,338 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 174,354 shares of the company’s stock, valued at approximately $1,917,894. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EXEL. Farallon Capital Management LLC acquired a new position in Exelixis during the second quarter valued at about $38,386,000. Janus Capital Management LLC acquired a new position in Exelixis during the second quarter valued at about $25,702,000. Lord Abbett & CO. LLC acquired a new position in Exelixis during the second quarter valued at about $22,690,000. Sector Gamma AS acquired a new position in Exelixis during the second quarter valued at about $16,087,000. Finally, Point72 Asset Management L.P. acquired a new position in Exelixis during the second quarter valued at about $15,818,000. 81.80% of the stock is owned by institutional investors and hedge funds.
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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