TheStreet upgraded shares of Exelixis, Inc. (NASDAQ:EXEL) from a c rating to a b- rating in a research note released on Monday morning.

Other research analysts have also recently issued reports about the stock. Piper Jaffray Companies reiterated a buy rating and issued a $29.00 price objective on shares of Exelixis in a report on Thursday, August 3rd. Oppenheimer Holdings, Inc. reiterated a hold rating on shares of Exelixis in a report on Monday, June 5th. Stifel Nicolaus reiterated a hold rating and issued a $26.00 price objective on shares of Exelixis in a report on Thursday, August 3rd. William Blair reiterated an outperform rating on shares of Exelixis in a report on Friday, June 16th. Finally, Deutsche Bank AG cut shares of Exelixis from a buy rating to a hold rating and increased their price objective for the company from $26.00 to $29.00 in a report on Thursday, August 3rd. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $25.57.

Shares of Exelixis (NASDAQ:EXEL) opened at 27.19 on Monday. The stock has a market cap of $7.99 billion, a price-to-earnings ratio of 141.61 and a beta of 1.89. The stock’s 50 day moving average price is $25.47 and its 200 day moving average price is $21.97. Exelixis has a 52 week low of $10.04 and a 52 week high of $28.45.

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

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In related news, insider Patrick J. Haley sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $18.46, for a total transaction of $92,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carl B. Feldbaum sold 32,988 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $21.58, for a total transaction of $711,881.04. Following the sale, the director now owns 52,721 shares of the company’s stock, valued at $1,137,719.18. The disclosure for this sale can be found here. Company insiders own 5.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of the company. Legal & General Group Plc boosted its stake in shares of Exelixis by 1.3% in the first quarter. Legal & General Group Plc now owns 84,763 shares of the biotechnology company’s stock worth $1,834,000 after buying an additional 1,078 shares during the last quarter. Aperio Group LLC boosted its stake in shares of Exelixis by 2.7% in the second quarter. Aperio Group LLC now owns 58,345 shares of the biotechnology company’s stock worth $1,437,000 after buying an additional 1,514 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Exelixis by 7.0% in the second quarter. Teacher Retirement System of Texas now owns 23,251 shares of the biotechnology company’s stock worth $573,000 after buying an additional 1,517 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Exelixis by 14.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,751 shares of the biotechnology company’s stock worth $320,000 after buying an additional 1,838 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in shares of 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. Hedge funds and other institutional investors own 80.19% of the company’s stock.

Exelixis Company Profile

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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