BidaskClub cut shares of Exelixis, Inc. (NASDAQ:EXEL) from a strong-buy rating to a buy rating in a research report report published on Monday morning.

A number of other brokerages have also recently weighed in on EXEL. TheStreet upgraded shares of Exelixis from a c rating to a b- rating in a report on Monday, August 7th. Cowen and Company reiterated an outperform rating on shares of Exelixis in a report on Thursday, August 10th. William Blair reiterated an outperform rating on shares of Exelixis in a report on Thursday, July 27th. Cann reiterated a hold rating on shares of Exelixis in a report on Thursday, July 20th. Finally, Stifel Nicolaus reiterated a hold rating and set a $26.00 price target on shares of Exelixis in a report on Thursday, August 3rd. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $25.57.

Exelixis (EXEL) traded up 0.71% during trading on Monday, hitting $26.93. 1,067,144 shares of the company’s stock traded hands. The company’s 50 day moving average is $26.20 and its 200-day moving average is $22.40. The stock has a market cap of $7.91 billion, a P/E ratio of 136.01 and a beta of 1.89. Exelixis has a 12 month low of $10.04 and a 12 month high of $28.45.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.02. The business had revenue of $99.01 million for 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.15) earnings per share. On average, analysts predict that Exelixis will post $0.26 earnings per share for the current year.

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In other news, insider Patrick J. Haley sold 5,000 shares of the 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of EXEL. Legal & General Group Plc increased its position 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 period. Aperio Group LLC increased its position 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 period. Teacher Retirement System of Texas increased its position 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 period. Zurcher Kantonalbank Zurich Cantonalbank increased its position 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 period. Finally, Meeder Asset Management Inc. increased its position 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 period. Institutional investors own 79.93% 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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