Exelixis (EXEL) – Investment Analysts’ Recent Ratings Changes

Exelixis (NASDAQ: EXEL) has recently received a number of price target changes and ratings updates:

  • 3/9/2019 – Exelixis was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 3/6/2019 – Exelixis was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 3/4/2019 – Exelixis was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “Exelixis’ fourth-quarter results were impressive despite stiff competition. Cabometyx continues to maintain its market leading position in RCC. The drug gained market share throughout the fourth quarter. It ended the quarter with 34% market share backed by its broad label for advanced RCC and the recent NCCN update as the preferred TKI for the majority of both previously untreated and refractory RCC patients. Demand grew 6% sequentially. The company experienced a 10% increase in Cabometyx’s prescriber base compared with that in the third quarter. The label expansion of the drug for second-line HCC should diversify the franchise and further boost sales. Meanwhile, three pivotal trials — CheckMate 9ER, evaluating Cabometyx in combination with Opdivo in first-line RCC; COSMIC-311 with single agent cabozantinib in second-line DTC; and COSMIC-312, evaluating Cabometyx in combination with Tecentriq are underway.”
  • 3/1/2019 – Exelixis had its “overweight” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $48.00 price target on the stock.
  • 2/26/2019 – Exelixis had its “buy” rating reaffirmed by analysts at Cowen Inc. They now have a $29.00 price target on the stock.
  • 2/22/2019 – Exelixis is now covered by analysts at BMO Capital Markets. They set a “market perform” rating and a $23.00 price target on the stock.
  • 2/13/2019 – Exelixis had its price target lowered by analysts at Oppenheimer Holdings Inc. from $40.00 to $31.00. They now have an “outperform” rating on the stock.
  • 2/11/2019 – Exelixis was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Exelixis’ Cabometyx continues to perform well. The company experienced an 11% increase in Cabometyx’s prescriber base in the third quarter sequentially. We expect Cabometyx sales to grow as the drug is now approved for first-line RCC, which will expand the eligible patient population in the United States and also eat into the market share of two key drugs — Sutent and Votrient. Moreover, Exelixis and partner Ipsen obtained EC approval for Cabometyx as a monotherapy for hepatocellular carcinoma (HCC) in adults who have previously been treated with Bayer’s Nexavar. In January 2019, the FDA also approved Cabometyx for HCC. The label expansion of the drug should boost sales. Shares have outperformed the industry in the last six months. However, the approval of Opdivo and Yervoy for the treatment of poor and intermediate risk first-line RCC has further increased competition. Esimates are stable ahead of 4Q results.”
  • 1/19/2019 – Exelixis was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 1/19/2019 – Exelixis was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.

NASDAQ EXEL opened at $24.76 on Friday. Exelixis, Inc. has a 52-week low of $13.42 and a 52-week high of $25.27. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.50 and a quick ratio of 8.41. The company has a market cap of $7.42 billion, a P/E ratio of 17.31, a price-to-earnings-growth ratio of 0.77 and a beta of 2.22.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, February 12th. The biotechnology company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.14. The company had revenue of $228.60 million during the quarter, compared to analysts’ expectations of $188.44 million. Exelixis had a net margin of 80.95% and a return on equity of 48.90%. The business’s quarterly revenue was up 90.4% on a year-over-year basis. During the same period last year, the business earned $0.12 EPS. As a group, sell-side analysts expect that Exelixis, Inc. will post 1.04 earnings per share for the current year.

In other news, CEO Michael Morrissey sold 6,046 shares of the firm’s stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $20.00, for a total transaction of $120,920.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Patrick J. Haley sold 1,560 shares of the firm’s stock in a transaction that occurred on Wednesday, January 9th. The stock was sold at an average price of $23.50, for a total transaction of $36,660.00. The disclosure for this sale can be found here. Insiders have sold a total of 812,872 shares of company stock valued at $17,908,747 over the last ninety days. Company insiders own 4.80% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BB&T Securities LLC boosted its holdings in shares of Exelixis by 3.6% in the 4th quarter. BB&T Securities LLC now owns 14,400 shares of the biotechnology company’s stock valued at $283,000 after buying an additional 500 shares during the last quarter. Cutler Capital Management LLC boosted its holdings in shares of Exelixis by 10.0% in the 4th quarter. Cutler Capital Management LLC now owns 11,000 shares of the biotechnology company’s stock valued at $216,000 after buying an additional 1,000 shares during the last quarter. Chicago Equity Partners LLC boosted its holdings in shares of Exelixis by 2.0% in the 4th quarter. Chicago Equity Partners LLC now owns 52,360 shares of the biotechnology company’s stock valued at $1,030,000 after buying an additional 1,045 shares during the last quarter. FTB Advisors Inc. boosted its holdings in shares of Exelixis by 312.0% in the 4th quarter. FTB Advisors Inc. now owns 1,545 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 1,170 shares during the last quarter. Finally, JOYN Advisors Inc. boosted its holdings in shares of Exelixis by 334.2% in the 4th quarter. JOYN Advisors Inc. now owns 1,524 shares of the biotechnology company’s stock valued at $30,000 after buying an additional 1,173 shares during the last quarter. 75.68% of the stock is owned by institutional investors.

Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. The company's products include CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of patients with progressive and metastatic medullary thyroid cancer.

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