A number of firms have modified their ratings and price targets on shares of Exelixis (NASDAQ: EXEL) recently:

  • 10/18/2017 – Exelixis was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $32.00 price target on the stock. According to Zacks, “Exelixis received a significant boost with the approval of the tablet formulation of cabozantinib, (distinct from the capsule form) under the brand name Cabometyx for the treatment of RCC in patients. New patient starts, refills for patients already on therapy and continued expansion of the prescriber base for Cabometyx are driving the drug’s sales. Meanwhile, Exelixis is developing cabozantinib in a broad development program and hassubmitted a supplemental New Drug Application (sNDA) for advanced RCC. The FDA assigned a PDUFA action date of Feb 15, 2018. A potential label expansion of Cabometyx will significantly boost the growth prospects. Exelixis also has collaborations with Bristol-Myers and Roche on the development of the drug in combination with immunotherapy agents. Moreover, Exelixis’ share price has outperformed the industry year to date. However, the company is heavily dependent on Cabometyx for growth.”
  • 10/18/2017 – Exelixis was upgraded by analysts at TheStreet from a “c+” rating to a “b-” rating.
  • 10/17/2017 – Exelixis had its “hold” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $26.00 price target on the stock.
  • 10/17/2017 – Exelixis had its price target raised by analysts at Royal Bank Of Canada from $33.00 to $39.00. They now have an “outperform” rating on the stock.
  • 10/17/2017 – Exelixis had its price target raised by analysts at Needham & Company LLC from $30.00 to $33.00. They now have a “buy” rating on the stock.
  • 10/16/2017 – Exelixis had its “hold” rating reaffirmed by analysts at Cann. They wrote, “Exelixis, Inc. announced today that FDA has granted Priority Review of its supplemental New Drug Application (sNDA) for Cabometyx (cabozantinib) for patients with previously untreated advanced renal cell carcinoma (RCC). FDA has assigned a Prescription Drug User Fee Act (PDUFA) action date of February 15, 2018. We have modeled that Cabometyx will expand into the front-line RCC setting by 2019, but based on the timing of the PDUFA date for this indication, we now believe it could happen sooner.””
  • 10/16/2017 – Exelixis had its price target raised by analysts at SunTrust Banks, Inc. from $32.00 to $35.00. They now have a “buy” rating on the stock.
  • 10/16/2017 – Exelixis had its “hold” rating reaffirmed by analysts at Oppenheimer Holdings, Inc..
  • 10/16/2017 – Exelixis had its “overweight” rating reaffirmed by analysts at Piper Jaffray Companies.
  • 10/10/2017 – Exelixis was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $29.00 price target on the stock. According to Zacks, “Exelixis received a significant boost with the approval of the tablet formulation of cabozantinib, (distinct from the capsule form) under the brand name Cabometyx for the treatment of RCC in patients. New patient starts, refills for patients already on therapy and continued expansion of the prescriber base for Cabometyx are driving the drug’s sales. Meanwhile, Exelixis is developing cabozantinib in a broad development program and hassubmitted a supplemental New Drug Application (sNDA) for advanced RCC. A potential label expansion of Cabometyx will significantly boost the growth prospects. Exelixis also has collaborations with Bristol-Myers and Roche on the development of the drug in combination with immunotherapy agents. Moreover, Exelixis’ share price has outperformed the industry year to date. However, the company is heavily dependent on Cabometyx for growth.”
  • 10/2/2017 – Exelixis had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $30.00 price target on the stock.
  • 9/25/2017 – Exelixis had its “hold” rating reaffirmed by analysts at Oppenheimer Holdings, Inc..
  • 9/22/2017 – Exelixis was downgraded by analysts at Leerink Swann from an “outperform” rating to a “market perform” rating. They now have a $28.00 price target on the stock, down previously from $34.00.
  • 9/14/2017 – Exelixis is now covered by analysts at Royal Bank Of Canada. They set an “outperform” rating and a $32.00 price target on the stock.
  • 9/12/2017 – Exelixis had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $30.00 price target on the stock, up previously from $28.00.
  • 9/10/2017 – Exelixis had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $29.00 price target on the stock.
  • 9/10/2017 – Exelixis had its “hold” rating reaffirmed by analysts at Oppenheimer Holdings, Inc..
  • 9/7/2017 – Exelixis had its “hold” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $26.00 price target on the stock.
  • 8/25/2017 – Exelixis was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.

Exelixis, Inc. (NASDAQ:EXEL) opened at 26.98 on Tuesday. Exelixis, Inc. has a 52-week low of $10.04 and a 52-week high of $32.50. The company has a market cap of $7.93 billion, a price-to-earnings ratio of 136.26 and a beta of 1.91. The firm’s 50-day moving average is $26.20 and its 200 day moving average is $24.24.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.02. The firm had revenue of $99.01 million for the quarter, compared to analysts’ expectations of $85.27 million. Exelixis had a net margin of 17.83% and a return on equity of 52.80%. The company’s revenue was up 173.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.15) EPS. On average, equities research analysts predict that Exelixis, Inc. will post $0.28 EPS for the current fiscal year.

In related news, CFO Christopher J. Senner sold 100,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were 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 can be accessed through the SEC website. Also, Director Stelios Papadopoulos sold 10,000 shares of the business’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $25.40, for a total transaction of $254,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 970,152 shares of company stock worth $25,923,457. Corporate insiders own 5.10% of the company’s stock.

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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