Exelixis (EXEL) Stock Rating Reaffirmed by Cann
“Exelixis announced today an amendment to the protocol for the phase Ib trial of Cabometyx (cabozantinib) in combination with atezolizumab (Tecentriq) in patients with locally advanced or metastatic solid tumors. Exelixis reported the amendment adds four new expansion cohorts to the trial, which will now include patients with non- small cell lung cancer (NSCLC) and castration-resistant prostate cancer (CRPC), in addition to previously included patients with renal cell carcinoma (RCC) and urothelial carcinoma (UC). The primary objective in the expansion stage of this trial remains to determine the objective response rate in each cohort. Exelixis confirmed the original trial protocol included four expansion cohorts, which will remain in the amended study unchanged.”,” Cann’s analyst wrote.
Several other research analysts have also issued reports on EXEL. Stifel Nicolaus reaffirmed a hold rating and set a $26.00 target price on shares of Exelixis in a research report on Thursday, September 7th. Piper Jaffray Companies reaffirmed a buy rating and set a $29.00 target price on shares of Exelixis in a research report on Sunday, September 10th. Oppenheimer reaffirmed a hold rating on shares of Exelixis in a research report on Sunday, September 10th. Needham & Company LLC reaffirmed a buy rating and set a $30.00 target price (up from $28.00) on shares of Exelixis in a research report on Tuesday, September 12th. Finally, Royal Bank of Canada initiated coverage on Exelixis in a research report on Thursday, September 14th. They set an outperform rating and a $32.00 target price for the company. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Exelixis presently has an average rating of Buy and an average target price of $32.13.
Exelixis (NASDAQ:EXEL) last announced its earnings results on Wednesday, November 1st. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.18. The business had revenue of $152.50 million during the quarter, compared to analyst estimates of $104.91 million. Exelixis had a return on equity of 105.47% and a net margin of 36.80%. Exelixis’s revenue for the quarter was up 145.2% compared to the same quarter last year. During the same period last year, the company earned ($0.04) EPS. research analysts predict that Exelixis will post 0.49 EPS for the current year.
Institutional investors have recently modified their holdings of the business. Mark Sheptoff Financial Planning LLC acquired a new stake in Exelixis during the 3rd quarter worth about $120,000. Fisher Asset Management LLC acquired a new stake in Exelixis during the 3rd quarter worth about $213,000. Caxton Associates LP acquired a new stake in Exelixis during the 2nd quarter worth about $227,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Exelixis during the 3rd quarter worth about $236,000. Finally, CIBC Asset Management Inc acquired a new stake in Exelixis during the 3rd quarter worth about $238,000. Hedge funds and other institutional investors own 81.15% of the company’s stock.
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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.
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