SunTrust Banks, Inc. assumed coverage on shares of Exelixis, Inc. (NASDAQ:EXEL) in a report issued on Thursday, July 13th, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $33.00 price target on the biotechnology company’s stock. SunTrust Banks, Inc.’s target price points to a potential upside of 23.64% from the company’s current price.

Other analysts also recently issued reports about the company. BidaskClub raised Exelixis from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Needham & Company LLC initiated coverage on Exelixis in a research note on Friday, March 31st. They issued a “buy” rating and a $28.00 price objective for the company. TheStreet raised Exelixis from a “d” rating to a “c+” rating in a research note on Tuesday, May 2nd. Oppenheimer Holdings, Inc. assumed coverage on Exelixis in a research note on Monday, June 12th. They issued a “hold” rating for the company. Finally, Zacks Investment Research lowered Exelixis from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 3rd. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Exelixis has an average rating of “Buy” and an average price target of $25.57.

Exelixis (NASDAQ EXEL) opened at 26.69 on Thursday. The stock has a market cap of $7.84 billion, a PE ratio of 139.01 and a beta of 1.89. Exelixis has a 1-year low of $9.00 and a 1-year high of $28.45. The firm’s 50-day moving average price is $24.89 and its 200 day moving average price is $21.88.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. The firm had revenue of $99.01 million during the quarter, compared to the consensus estimate of $85.27 million. Exelixis had a return on equity of 80.43% and a net margin of 18.20%. The company’s quarterly revenue was up 173.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.15) earnings per share. Equities research analysts expect that Exelixis will post $0.25 EPS for the current year.

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In other news, insider Patrick J. Haley sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $18.46, for a total value of $92,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carl B. Feldbaum sold 32,988 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $21.58, for a total value of $711,881.04. Following the completion of the sale, the director now owns 52,721 shares in the company, valued at approximately $1,137,719.18. The disclosure for this sale can be found here. Insiders sold 249,288 shares of company stock valued at $5,425,312 over the last ninety days. Corporate insiders own 5.10% of the company’s stock.

Several large investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in Exelixis by 33,678.5% in the first quarter. BlackRock Inc. now owns 19,155,466 shares of the biotechnology company’s stock worth $415,099,000 after buying an additional 19,098,757 shares during the last quarter. Swiss National Bank increased its stake in Exelixis by 18.4% in the first quarter. Swiss National Bank now owns 448,400 shares of the biotechnology company’s stock worth $9,717,000 after buying an additional 69,700 shares during the last quarter. Credit Suisse AG increased its stake in Exelixis by 20.1% in the first quarter. Credit Suisse AG now owns 768,110 shares of the biotechnology company’s stock worth $16,646,000 after buying an additional 128,398 shares during the last quarter. Martingale Asset Management L P increased its stake in Exelixis by 5.9% in the first quarter. Martingale Asset Management L P now owns 59,428 shares of the biotechnology company’s stock worth $1,288,000 after buying an additional 3,301 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its stake in Exelixis by 26.6% in the second quarter. Meeder Asset Management Inc. now owns 9,957 shares of the biotechnology company’s stock worth $245,000 after buying an additional 2,091 shares during the last quarter. Institutional investors own 80.19% of the company’s stock.

About Exelixis

Exelixis, Inc is a biopharmaceutical company. The Company is focused on discovery, development and commercialization of new medicines to manage care and outcomes for people with cancer. The Company’s cabozantinib product is an inhibitor of multiple tyrosine kinases, including MET, AXL, and VEGF receptors.

Analyst Recommendations for Exelixis (NASDAQ:EXEL)

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