Exelixis Inc. (EXEL) Upgraded by Piper Jaffray Cos. to “Overweight”
A number of other brokerages have also recently issued reports on EXEL. Leerink Swann reaffirmed a buy rating and issued a $10.00 price objective on shares of Exelixis in a research note on Tuesday, July 19th. Stifel Nicolaus raised their price objective on shares of Exelixis from $12.00 to $15.00 and gave the company a buy rating in a research note on Thursday, September 15th. Finally, Zacks Investment Research raised shares of Exelixis from a hold rating to a buy rating and set a $14.00 price objective on the stock in a research note on Tuesday, September 13th. Six research analysts have rated the stock with a buy rating, The stock presently has an average rating of Buy and a consensus price target of $13.51.
Exelixis (NASDAQ:EXEL) traded up 0.309% during trading on Monday, hitting $12.649. 1,722,064 shares of the stock traded hands. Exelixis has a one year low of $3.55 and a one year high of $15.58. The company’s 50 day moving average is $12.66 and its 200 day moving average is $8.36. The company’s market capitalization is $2.91 billion.
Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Wednesday, August 3rd. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.11. The business earned $36.25 million during the quarter, compared to the consensus estimate of $16.76 million. During the same period in the previous year, the business posted ($0.22) earnings per share. Exelixis’s revenue was up 353.7% compared to the same quarter last year. On average, equities analysts forecast that Exelixis will post ($0.61) EPS for the current fiscal year.
In other Exelixis news, insider Gisela Schwab sold 42,338 shares of Exelixis 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 sale, the insider now directly owns 174,354 shares in the company, valued at approximately $1,917,894. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.90% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. Amalgamated Bank raised its stake in shares of Exelixis by 2.5% in the second quarter. Amalgamated Bank now owns 24,322 shares of the biotechnology company’s stock valued at $259,000 after buying an additional 591 shares during the last quarter. Rathbone Brothers plc raised its stake in shares of Exelixis by 5.3% in the second quarter. Rathbone Brothers plc now owns 20,000 shares of the biotechnology company’s stock valued at $156,000 after buying an additional 1,000 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Exelixis by 0.8% in the second quarter. ProShare Advisors LLC now owns 198,085 shares of the biotechnology company’s stock valued at $1,547,000 after buying an additional 1,588 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of Exelixis by 11.3% in the second quarter. Prudential Financial Inc. now owns 19,643 shares of the biotechnology company’s stock valued at $153,000 after buying an additional 2,000 shares during the last quarter. Finally, Commonwealth Equity Services Inc raised its stake in shares of Exelixis by 5.5% in the second quarter. Commonwealth Equity Services Inc now owns 43,669 shares of the biotechnology company’s stock valued at $341,000 after buying an additional 2,275 shares during the last quarter. Hedge funds and other institutional investors own 81.80% of the company’s stock.
Exelixis Company Profile
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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