Exelixis (EXEL) Rating Lowered to Hold at BidaskClub

Exelixis (NASDAQ:EXEL) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report issued on Friday.

Several other brokerages also recently weighed in on EXEL. SunTrust Banks reaffirmed a “buy” rating and issued a $38.00 target price on shares of Exelixis in a research report on Thursday, December 21st. Zacks Investment Research raised Exelixis from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Tuesday, October 10th. Needham & Company LLC upped their target price on Exelixis from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, October 17th. Cann reaffirmed a “hold” rating on shares of Exelixis in a research report on Thursday, January 4th. Finally, Oppenheimer reissued a “hold” rating on shares of Exelixis in a report on Monday, October 16th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $32.13.

Shares of Exelixis (NASDAQ:EXEL) traded up $0.14 during midday trading on Friday, hitting $28.00. The stock had a trading volume of 4,669,031 shares, compared to its average volume of 2,820,000. Exelixis has a 52 week low of $16.72 and a 52 week high of $32.50. The stock has a market capitalization of $8,280.00, a P/E ratio of 57.14, a price-to-earnings-growth ratio of 0.84 and a beta of 1.88.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Wednesday, November 1st. The biotechnology company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ 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 the consensus estimate of $104.91 million. During the same quarter in the prior year, the business earned ($0.04) earnings per share. The company’s revenue was up 145.2% compared to the same quarter last year. equities research analysts anticipate that Exelixis will post 0.49 earnings per share for the current year.

In related news, Director Alan M. Garber sold 15,000 shares of the stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $30.30, for a total value of $454,500.00. Following the completion of the transaction, the director now owns 64,829 shares of the company’s stock, valued at $1,964,318.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.10% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Exelixis by 7.2% during the second quarter. Vanguard Group Inc. now owns 25,441,964 shares of the biotechnology company’s stock valued at $626,635,000 after buying an additional 1,706,893 shares in the last quarter. Matrix Capital Management Company LP raised its stake in Exelixis by 8.8% during the second quarter. Matrix Capital Management Company LP now owns 15,117,460 shares of the biotechnology company’s stock valued at $372,343,000 after buying an additional 1,225,000 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in Exelixis during the second quarter valued at approximately $28,689,000. Macquarie Group Ltd. raised its stake in Exelixis by 811.5% during the third quarter. Macquarie Group Ltd. now owns 1,276,453 shares of the biotechnology company’s stock valued at $30,928,000 after buying an additional 1,136,409 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in Exelixis by 588.9% during the third quarter. First Trust Advisors LP now owns 1,086,135 shares of the biotechnology company’s stock valued at $26,317,000 after buying an additional 928,475 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: This article was posted by American Banking News and is the property of of American Banking News. If you are accessing this article on another domain, it was stolen and reposted in violation of US & international trademark and copyright laws. The correct version of this article can be viewed at https://www.americanbankingnews.com/2018/01/21/exelixis-exel-rating-lowered-to-hold-at-bidaskclub.html.

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)

Receive News & Ratings for Exelixis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exelixis and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply