Exelixis, Inc. (EXEL) Earns Outperform Rating from Analysts at Royal Bank Of Canada
Equities researchers at Royal Bank Of Canada began coverage on shares of Exelixis, Inc. (NASDAQ:EXEL) in a research report issued to clients and investors on Thursday, The Fly reports. The firm set an “outperform” rating on the biotechnology company’s stock.
Several other analysts also recently commented on EXEL. TheStreet raised shares of Exelixis from a “c” rating to a “b-” rating in a research report on Monday, August 7th. William Blair reaffirmed an “outperform” rating on shares of Exelixis in a research report on Thursday, July 27th. Cowen and Company reaffirmed an “outperform” rating on shares of Exelixis in a research report on Thursday, August 10th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $29.00 price objective on shares of Exelixis in a research report on Sunday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price objective (up previously from $28.00) on shares of Exelixis in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $25.82.
Shares of Exelixis (NASDAQ:EXEL) traded up 0.44% on Thursday, reaching $27.23. 3,710,106 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $27.08 and its 200-day moving average price is $23.30. The stock has a market cap of $8.00 billion, a P/E ratio of 137.53 and a beta of 1.97. Exelixis has a 52-week low of $10.04 and a 52-week high of $29.50.
Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. The company had revenue of $99.01 million during the quarter, compared to the consensus estimate of $85.27 million. Exelixis had a net margin of 18.20% and a return on equity of 80.43%. The company’s quarterly revenue was up 173.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.15) EPS. Equities analysts forecast that Exelixis will post $0.26 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of EXEL. First Quadrant L P CA acquired a new stake in Exelixis in the 2nd quarter valued at $144,000. Meeder Asset Management Inc. acquired a new stake in Exelixis in the 1st quarter valued at $170,000. Atlantic Trust Group LLC acquired a new stake in Exelixis in the 1st quarter valued at $216,000. Wetherby Asset Management Inc. acquired a new stake in Exelixis in the 2nd quarter valued at $218,000. Finally, Caxton Associates LP acquired a new stake in Exelixis in the 2nd quarter valued at $227,000. 79.20% of the stock is owned by institutional investors and hedge funds.
Exelixis, Inc is a biopharmaceutical company. The Company is focused on discovery, development and commercialization of new medicines to manage care and outcomes for people with cancer. The Company’s cabozantinib product is an inhibitor of multiple tyrosine kinases, including MET, AXL, and VEGF receptors.
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