Exelixis, Inc. (NASDAQ:EXEL) was upgraded by investment analysts at TheStreet from a “c+” rating to a “b-” rating in a report released on Wednesday.

Several other analysts have also weighed in on EXEL. Stifel Nicolaus reissued a “hold” rating and set a $26.00 price objective on shares of Exelixis in a report on Tuesday. Needham & Company LLC lifted their price objective on Exelixis from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday. Zacks Investment Research raised Exelixis from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Wednesday. William Blair reissued an “outperform” rating on shares of Exelixis in a report on Thursday, July 27th. Finally, Royal Bank Of Canada lifted their price objective on Exelixis from $33.00 to $39.00 and gave the stock an “outperform” rating in a report on Tuesday. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Exelixis presently has a consensus rating of “Buy” and a consensus target price of $31.38.

Exelixis (NASDAQ:EXEL) opened at 27.46 on Wednesday. Exelixis has a 52 week low of $10.04 and a 52 week high of $29.50. The company has a market capitalization of $8.07 billion, a PE ratio of 138.69 and a beta of 1.91. The company’s 50-day moving average price is $26.32 and its 200 day moving average price is $24.10.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.02. Exelixis had a return on equity of 80.43% and a net margin of 18.20%. The company had revenue of $99.01 million for the quarter, compared to the consensus estimate of $85.27 million. During the same period in the previous year, the business posted ($0.15) EPS. The company’s revenue for the quarter was up 173.1% on a year-over-year basis. On average, equities research analysts anticipate that Exelixis will post $0.28 EPS for the current year.

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In related news, CFO Christopher J. Senner sold 100,000 shares of the business’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $26.79, for a total value of $2,679,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Jeffrey Hessekiel sold 27,302 shares of the business’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $24.28, for a total value of $662,892.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 970,152 shares of company stock worth $25,923,457. 5.10% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Navellier & Associates Inc acquired a new stake in Exelixis in the 2nd quarter valued at $1,054,000. Public Employees Retirement System of Ohio boosted its stake in Exelixis by 123.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 233,322 shares of the biotechnology company’s stock valued at $5,747,000 after buying an additional 129,008 shares in the last quarter. Verition Fund Management LLC acquired a new stake in Exelixis in the 2nd quarter valued at $473,000. California State Teachers Retirement System boosted its stake in Exelixis by 14.9% in the 2nd quarter. California State Teachers Retirement System now owns 515,076 shares of the biotechnology company’s stock valued at $12,686,000 after buying an additional 66,783 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Exelixis by 1,923.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 263,086 shares of the biotechnology company’s stock valued at $6,480,000 after buying an additional 250,086 shares in the last quarter. 79.20% of the stock is currently owned by institutional investors and hedge funds.

About Exelixis

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.

Analyst Recommendations for Exelixis (NASDAQ:EXEL)

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