Exelixis (EXEL) Stock Rating Reaffirmed by Oppenheimer

Exelixis (NASDAQ:EXEL)‘s stock had its “hold” rating reissued by analysts at Oppenheimer in a research note issued on Thursday.

A number of other research firms have also weighed in on EXEL. Zacks Investment Research raised Exelixis from a “hold” rating to a “strong-buy” rating and set a $35.00 price objective for the company in a research report on Tuesday. Needham & Company LLC raised their price objective on Exelixis from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, October 17th. Royal Bank of Canada raised their price objective on Exelixis from $33.00 to $39.00 and gave the company an “outperform” rating in a research report on Tuesday, October 17th. Stifel Nicolaus reaffirmed a “hold” rating and set a $26.00 price objective on shares of Exelixis in a research report on Tuesday, October 17th. Finally, Leerink Swann lowered Exelixis from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $34.00 to $28.00 in a research report on Friday, September 22nd. Six analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Exelixis presently has an average rating of “Buy” and a consensus price target of $32.13.

Exelixis (NASDAQ EXEL) traded up $0.35 during mid-day trading on Thursday, reaching $31.75. The company had a trading volume of 2,666,700 shares, compared to its average volume of 2,643,150. Exelixis has a one year low of $14.51 and a one year high of $32.50. The company has a market cap of $9,320.00, a price-to-earnings ratio of 64.80, a PEG ratio of 0.94 and a beta of 1.88.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Wednesday, November 1st. The biotechnology company reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.18. Exelixis had a return on equity of 105.47% and a net margin of 36.80%. The company had revenue of $152.50 million during the quarter, compared to analyst estimates of $104.91 million. During the same quarter last year, the company earned ($0.04) EPS. The firm’s revenue for the quarter was up 145.2% on a year-over-year basis. research analysts predict that Exelixis will post 0.49 EPS for the current year.

Several institutional investors have recently bought and sold shares of the business. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Exelixis in the 3rd quarter worth $120,000. Fisher Asset Management LLC purchased a new position in shares of Exelixis in the 3rd quarter worth $213,000. Caxton Associates LP purchased a new position in shares of Exelixis in the 2nd quarter worth $227,000. Private Advisor Group LLC purchased a new position in shares of Exelixis in the 2nd quarter worth $247,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of Exelixis in the 3rd quarter worth $236,000. 81.15% of the stock is owned by institutional investors and hedge funds.

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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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