Exelixis, Inc. (EXEL) Upgraded by BidaskClub to Strong-Buy
BidaskClub upgraded shares of Exelixis, Inc. (NASDAQ:EXEL) from a buy rating to a strong-buy rating in a research note issued to investors on Friday.
A number of other equities research analysts have also recently issued reports on EXEL. TheStreet raised shares of Exelixis from a c rating to a b- rating in a research note on Monday, August 7th. William Blair reaffirmed an outperform rating on shares of Exelixis in a research note on Thursday, July 27th. Cowen and Company reaffirmed an outperform rating on shares of Exelixis in a research note on Thursday, August 10th. Oppenheimer Holdings, Inc. began coverage on shares of Exelixis in a research note on Monday, June 12th. They issued a hold rating for the company. Finally, Piper Jaffray Companies reaffirmed a buy rating and issued a $29.00 price objective on shares of Exelixis in a research note on Thursday, August 3rd. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Exelixis presently has an average rating of Buy and an average price target of $25.57.
Shares of Exelixis (EXEL) traded down 0.59% on Friday, hitting $27.16. The stock had a trading volume of 2,123,582 shares. The firm has a market capitalization of $7.98 billion, a P/E ratio of 137.17 and a beta of 1.89. Exelixis has a 12-month low of $10.04 and a 12-month high of $28.45. The company has a 50 day moving average of $26.74 and a 200-day moving average of $22.86.
Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.02. Exelixis had a net margin of 18.20% and a return on equity of 80.43%. The business had revenue of $99.01 million during the quarter, compared to analysts’ expectations of $85.27 million. During the same quarter in the previous year, the company earned ($0.15) EPS. The business’s quarterly revenue was up 173.1% compared to the same quarter last year. Equities analysts predict that Exelixis will post $0.26 EPS for the current fiscal year.
In other Exelixis news, insider Patrick J. Haley sold 5,000 shares of the stock in a transaction 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 is available at this hyperlink. Corporate insiders own 5.10% of the company’s stock.
Large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Exelixis by 33,678.5% in the first quarter. BlackRock Inc. now owns 19,155,466 shares of the biotechnology company’s stock valued at $415,099,000 after buying an additional 19,098,757 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Exelixis by 12.8% in the first quarter. Vanguard Group Inc. now owns 23,735,071 shares of the biotechnology company’s stock valued at $514,339,000 after buying an additional 2,696,877 shares during the last quarter. Matrix Capital Management Company LP boosted its stake in shares of Exelixis by 8.8% in the second quarter. Matrix Capital Management Company LP now owns 15,117,460 shares of the biotechnology company’s stock valued at $372,343,000 after buying an additional 1,225,000 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Exelixis during the second quarter valued at $28,689,000. Finally, Meditor Group Ltd boosted its stake in shares of Exelixis by 5.5% in the second quarter. Meditor Group Ltd now owns 20,229,713 shares of the biotechnology company’s stock valued at $498,258,000 after buying an additional 1,046,000 shares during the last quarter. 79.93% of the stock is owned by institutional investors and hedge funds.
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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