Exelixis Inc. (EXEL) Price Target Raised to $15.57
Exelixis Inc. (NASDAQ:EXEL) had its target price increased by investment analysts at S&P Equity Research from $13.41 to $15.57 in a research note issued on Wednesday. S&P Equity Research’s price target would suggest a potential upside of 0.58% from the company’s current price.
Several other research firms also recently issued reports on EXEL. Leerink Swann reaffirmed a “buy” rating and set a $10.00 price objective on shares of Exelixis in a report on Tuesday, July 19th. Stifel Nicolaus upped their price objective on shares of Exelixis from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, September 15th. Piper Jaffray Cos. reaffirmed a “neutral” rating and set a $8.00 price objective (up from $5.00) on shares of Exelixis in a report on Thursday, August 4th. Cowen and Company reaffirmed an “outperform” rating on shares of Exelixis in a report on Tuesday, June 7th. Finally, Zacks Investment Research raised shares of Exelixis from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report on Tuesday, September 13th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $11.85.
Shares of Exelixis (NASDAQ:EXEL) traded down 13.76% during midday trading on Wednesday, hitting $13.35. 27,935,144 shares of the company were exchanged. Exelixis has a one year low of $3.55 and a one year high of $15.58. The stock’s 50-day moving average is $12.12 and its 200-day moving average is $7.78. The stock’s market cap is $3.07 billion.
Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Wednesday, August 3rd. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.11. The firm had revenue of $36.25 million for the quarter, compared to the consensus estimate of $16.76 million. Exelixis’s quarterly revenue was up 353.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.22) earnings per share. Equities research analysts anticipate that Exelixis will post ($0.62) EPS for the current year.
In other news, insider Gisela Schwab sold 42,338 shares of the stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $11.00, for a total value of $465,718.00. Following the completion of the transaction, the insider now owns 174,354 shares in the company, valued at approximately $1,917,894. The sale was disclosed in a filing with the SEC, which is available at this link. 5.90% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. Seven Eight Capital LLC acquired a new position in shares of Exelixis during the second quarter worth about $105,000. GSA Capital Partners LLP acquired a new position in shares of Exelixis during the second quarter worth about $117,000. Acrospire Investment Management LLC boosted its position in shares of Exelixis by 444.4% in the second quarter. Acrospire Investment Management LLC now owns 15,253 shares of the biotechnology company’s stock worth $119,000 after buying an additional 12,451 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Exelixis by 11.4% in the first quarter. Legal & General Group Plc now owns 33,497 shares of the biotechnology company’s stock worth $136,000 after buying an additional 3,440 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in shares of Exelixis by 25.7% in the second quarter. Stifel Financial Corp now owns 17,600 shares of the biotechnology company’s stock worth $138,000 after buying an additional 3,600 shares in the last quarter. Institutional investors own 81.80% of the company’s stock.
Exelixis, Inc is a biopharmaceutical company. The Company is engaged in developing small molecule therapies for the treatment of cancer. It focuses on the development and commercialization of cabozantinib, an inhibitor of multiple receptor tyrosine kinases, in various tumor indications. Cabozantinib is indicated for the treatment of progressive, metastatic medullary thyroid cancer, and is sold under the brand name COMETRIQ.
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