Exelixis, Inc. (EXEL) Receives Average Recommendation of “Buy” from Brokerages

Exelixis, Inc. (NASDAQ:EXEL) has earned an average recommendation of “Buy” from the fifteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $32.57.

A number of research analysts have recently commented on the company. Cann restated a “hold” rating on shares of Exelixis in a research note on Monday, October 16th. Oppenheimer restated a “hold” rating on shares of Exelixis in a research note on Monday, October 16th. SunTrust Banks raised their target price on Exelixis from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, October 16th. Stifel Nicolaus restated a “hold” rating and issued a $26.00 target price on shares of Exelixis in a research note on Tuesday, October 17th. Finally, Zacks Investment Research upgraded Exelixis from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Wednesday, October 18th.

Exelixis (EXEL) opened at $29.44 on Tuesday. The company has a market capitalization of $8,710.00, a P/E ratio of 60.08, a PEG ratio of 0.84 and a beta of 1.88. Exelixis has a one year low of $16.72 and a one year high of $32.50.

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

In other Exelixis news, Director Alan M. Garber sold 15,000 shares of Exelixis stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $30.30, for a total transaction of $454,500.00. Following the completion of the transaction, the director now owns 64,829 shares in the company, valued at $1,964,318.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.10% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in the business. State of Alaska Department of Revenue purchased a new position in Exelixis during the fourth quarter valued at $647,000. Creative Planning raised its stake in Exelixis by 17.2% during the fourth quarter. Creative Planning now owns 108,297 shares of the biotechnology company’s stock valued at $3,292,000 after buying an additional 15,910 shares during the last quarter. Bank of Montreal Can raised its stake in Exelixis by 31.4% during the fourth quarter. Bank of Montreal Can now owns 1,159,964 shares of the biotechnology company’s stock valued at $35,263,000 after buying an additional 276,908 shares during the last quarter. GSA Capital Partners LLP raised its stake in Exelixis by 18.1% during the third quarter. GSA Capital Partners LLP now owns 55,251 shares of the biotechnology company’s stock valued at $1,339,000 after buying an additional 8,470 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in Exelixis by 3.6% during the third quarter. California Public Employees Retirement System now owns 663,539 shares of the biotechnology company’s stock valued at $16,078,000 after buying an additional 23,139 shares during the last quarter. Institutional investors and hedge funds own 80.92% of the company’s stock.

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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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