Exelixis Inc. (EXEL) Given Average Recommendation of “Buy” by Brokerages
Exelixis Inc. (NASDAQ:EXEL) has been assigned an average rating of “Buy” from the seven brokerages that are currently covering the company. Six research analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $14.89.
A number of analysts recently commented on EXEL shares. Leerink Swann reaffirmed an “outperform” rating and issued a $12.00 price target on shares of Exelixis in a research note on Monday, August 29th. Piper Jaffray Cos. raised Exelixis from a “neutral” rating to an “overweight” rating in a research note on Monday. S&P Equity Research raised their price target on Exelixis from $13.41 to $15.57 in a research note on Wednesday, September 28th. Stifel Nicolaus raised their price objective on Exelixis from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, September 15th. Finally, William Blair reissued an “outperform” rating on shares of Exelixis in a research report on Thursday, September 15th.
Shares of Exelixis (NASDAQ:EXEL) traded up 0.08% during trading on Thursday, reaching $11.94. 4,084,755 shares of the company traded hands. Exelixis has a 12-month low of $3.55 and a 12-month high of $15.58. The company has a 50 day moving average price of $12.71 and a 200 day moving average price of $8.41. The firm’s market capitalization is $2.75 billion.
Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.11. The business earned $36.25 million during the quarter, compared to analysts’ expectations of $16.76 million. During the same period in the previous year, the business earned ($0.22) EPS. The business’s revenue was up 353.7% compared to the same quarter last year. On average, equities analysts predict that Exelixis will post ($0.61) EPS for the current year.
In other news, insider Gisela Schwab sold 42,338 shares of Exelixis 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 completion of the transaction, the insider now owns 174,354 shares of the company’s stock, valued at approximately $1,917,894. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.90% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Exelixis by 2.3% in the second quarter. Vanguard Group Inc. now owns 16,457,824 shares of the biotechnology company’s stock valued at $128,536,000 after buying an additional 375,754 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Exelixis by 0.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,357,463 shares of the biotechnology company’s stock valued at $41,842,000 after buying an additional 28,145 shares in the last quarter. Farallon Capital Management LLC bought a new position in Exelixis during the second quarter valued at about $38,386,000. Janus Capital Management LLC bought a new position in Exelixis during the second quarter valued at about $25,702,000. Finally, Lord Abbett & CO. LLC bought a new position in Exelixis during the second quarter valued at about $22,690,000. 81.80% of the stock is owned by hedge funds and other institutional investors.
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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