Exelixis, Inc. (EXEL) Given Buy Rating at Piper Jaffray Companies
Exelixis, Inc. (NASDAQ:EXEL)‘s stock had its “buy” rating reissued by analysts at Piper Jaffray Companies in a note issued to investors on Sunday. They currently have a $29.00 price objective on the biotechnology company’s stock. Piper Jaffray Companies’ target price suggests a potential upside of 11.67% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the company. TheStreet raised Exelixis from a “c” rating to a “b-” rating in a report on Monday, August 7th. BidaskClub raised Exelixis from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. SunTrust Banks, Inc. started coverage on Exelixis in a report on Thursday, July 13th. They issued a “buy” rating and a $33.00 target price on the stock. Zacks Investment Research cut Exelixis from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 28th. Finally, Oppenheimer Holdings, Inc. started coverage on Exelixis in a report on Monday, June 12th. They issued a “hold” rating on the stock. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $25.57.
Shares of Exelixis (EXEL) traded down 0.08% during trading on Friday, reaching $25.95. The company’s stock had a trading volume of 2,870,617 shares. Exelixis has a 12-month low of $10.04 and a 12-month high of $29.50. The company has a 50 day moving average of $27.13 and a 200 day moving average of $23.23. The company has a market cap of $7.63 billion, a PE ratio of 131.06 and a beta of 1.97.
Exelixis (NASDAQ:EXEL) last issued its earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.02. Exelixis had a return on equity of 80.43% and a net margin of 18.20%. The firm had revenue of $99.01 million for the quarter, compared to analysts’ expectations of $85.27 million. During the same period in the previous year, the firm posted ($0.15) earnings per share. The business’s revenue was up 173.1% compared to the same quarter last year. On average, analysts anticipate that Exelixis will post $0.26 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently modified their holdings of EXEL. BlackRock Inc. increased its stake in Exelixis by 33,678.5% during the first quarter. BlackRock Inc. now owns 19,155,466 shares of the biotechnology company’s stock worth $415,099,000 after acquiring an additional 19,098,757 shares during the last quarter. Vanguard Group Inc. increased its stake in Exelixis by 12.8% during the first quarter. Vanguard Group Inc. now owns 23,735,071 shares of the biotechnology company’s stock worth $514,339,000 after acquiring an additional 2,696,877 shares during the last quarter. Matrix Capital Management Company LP increased its stake in Exelixis by 8.8% during the second quarter. Matrix Capital Management Company LP now owns 15,117,460 shares of the biotechnology company’s stock worth $372,343,000 after acquiring an additional 1,225,000 shares during the last quarter. Janus Henderson Group PLC bought a new stake in Exelixis during the second quarter worth approximately $28,689,000. Finally, Meditor Group Ltd increased its stake in Exelixis by 5.5% during the second quarter. Meditor Group Ltd now owns 20,229,713 shares of the biotechnology company’s stock worth $498,258,000 after acquiring an additional 1,046,000 shares during the last quarter. 79.20% of the stock is currently owned by institutional investors.
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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