Exelixis, Inc. (EXEL) Given Average Rating of “Buy” by Analysts
Exelixis, Inc. (NASDAQ:EXEL) has been assigned a consensus rating of “Buy” from the fifteen ratings firms that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $25.57.
A number of analysts have weighed in on the stock. BidaskClub raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Friday. 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 set a $26.00 price target on shares of Exelixis in a report on Thursday, August 3rd. Piper Jaffray Companies reiterated a “buy” rating and set a $29.00 price target on shares of Exelixis in a report on Thursday, August 3rd. Finally, William Blair reiterated an “outperform” rating on shares of Exelixis in a report on Friday, June 16th.
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In related news, insider Patrick J. Haley sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were 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 SEC, which is available at this hyperlink. 5.10% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Nationwide Fund Advisors raised its position in Exelixis by 61.2% in the first quarter. Nationwide Fund Advisors now owns 284,279 shares of the biotechnology company’s stock valued at $6,160,000 after buying an additional 107,889 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new position in Exelixis during the first quarter valued at about $383,000. Strs Ohio raised its position in Exelixis by 37.8% in the first quarter. Strs Ohio now owns 47,400 shares of the biotechnology company’s stock valued at $1,027,000 after buying an additional 13,000 shares during the last quarter. Russell Investments Group Ltd. raised its position in Exelixis by 2.8% in the first quarter. Russell Investments Group Ltd. now owns 624,628 shares of the biotechnology company’s stock valued at $13,535,000 after buying an additional 17,070 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Exelixis by 167.1% in the first quarter. Wells Fargo & Company MN now owns 1,460,194 shares of the biotechnology company’s stock valued at $31,642,000 after buying an additional 913,454 shares during the last quarter. Institutional investors and hedge funds own 79.93% of the company’s stock.
Shares of Exelixis (NASDAQ EXEL) opened at 27.16 on Friday. Exelixis has a 1-year low of $10.04 and a 1-year high of $28.45. The company has a market cap of $7.98 billion, a P/E ratio of 137.17 and a beta of 1.89. The stock has a 50 day moving average price of $26.74 and a 200-day moving average price of $22.86.
Exelixis (NASDAQ:EXEL) last posted its earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The firm 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 company’s revenue was up 173.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.15) earnings per share. Analysts predict that Exelixis will post $0.26 earnings per share for the current fiscal year.
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.
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