Exelixis Inc. (EXEL) Earns Outperform Rating from Cowen and Company
Exelixis Inc. (NASDAQ:EXEL)‘s stock had its “outperform” rating restated by Cowen and Company in a note issued to investors on Wednesday.
Other equities research analysts also recently issued reports about the company. Leerink Swann restated an “outperform” rating and issued a $12.00 target price on shares of Exelixis in a research report on Thursday, August 18th. Stifel Nicolaus increased their price objective on Exelixis from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Zacks Investment Research upgraded Exelixis from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Tuesday, September 13th. Piper Jaffray Cos. reiterated a “neutral” rating and set a $8.00 price objective (up previously from $5.00) on shares of Exelixis in a research report on Thursday, August 4th. Finally, William Blair reiterated an “outperform” rating on shares of Exelixis in a research report on Thursday, September 15th. Six research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus price target of $13.51.
Exelixis (NASDAQ:EXEL) opened at 12.69 on Wednesday. Exelixis has a 12-month low of $3.55 and a 12-month high of $15.58. The stock’s market cap is $2.92 billion. The stock has a 50 day moving average price of $12.70 and a 200-day moving average price of $8.39.
Exelixis (NASDAQ:EXEL) last released its earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.11. The firm earned $36.25 million during the quarter, compared to analyst estimates of $16.76 million. The business’s revenue for the quarter was up 353.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.22) earnings per share. On average, equities analysts expect that Exelixis will post ($0.61) earnings per share for the current year.
In other news, insider Gisela Schwab sold 42,338 shares of the firm’s stock in a transaction dated Thursday, August 4th. The stock was 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 of the company’s stock, valued at $1,917,894. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 5.90% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Seven Eight Capital LLC acquired a new stake in shares of Exelixis during the second quarter valued at about $105,000. GSA Capital Partners LLP bought a new stake in Exelixis during the second quarter valued at $117,000. Acrospire Investment Management LLC boosted its stake in Exelixis by 444.4% in the second quarter. Acrospire Investment Management LLC now owns 15,253 shares of the biotechnology company’s stock valued at $119,000 after buying an additional 12,451 shares during the last quarter. Stifel Financial Corp boosted its stake in Exelixis by 25.7% in the second quarter. Stifel Financial Corp now owns 17,600 shares of the biotechnology company’s stock valued at $138,000 after buying an additional 3,600 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in 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. 81.80% of the stock is currently owned by institutional investors.
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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