Exelixis, Inc. (EXEL) Receives Average Recommendation of “Hold” from Analysts
Exelixis, Inc. (NASDAQ:EXEL) has received an average rating of “Hold” from the seventeen brokerages that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $34.63.
Several equities analysts recently issued reports on the company. BidaskClub upgraded Exelixis from a “hold” rating to a “buy” rating in a research report on Friday, January 5th. Cann reiterated a “hold” rating on shares of Exelixis in a report on Thursday, January 4th. Oppenheimer reiterated a “hold” rating on shares of Exelixis in a report on Thursday, January 4th. Zacks Investment Research upgraded Exelixis from a “hold” rating to a “strong-buy” rating and set a $35.00 price objective for the company in a report on Tuesday, January 2nd. Finally, UBS Group upgraded Exelixis from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 27th.
Exelixis (NASDAQ EXEL) opened at $24.80 on Wednesday. Exelixis has a 1 year low of $18.03 and a 1 year high of $32.50. The stock has a market capitalization of $7,354.35, a P/E ratio of 48.67, a P/E/G ratio of 1.35 and a beta of 1.96.
In other news, Director Lance Willsey sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $23.91, for a total value of $717,300.00. Following the completion of the transaction, the director now owns 483,273 shares in the company, valued at approximately $11,555,057.43. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Patrick J. Haley sold 45,029 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $27.13, for a total value of $1,221,636.77. The disclosure for this sale can be found here. In the last quarter, insiders sold 120,029 shares of company stock valued at $3,158,287. Company insiders own 5.10% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB purchased a new position in shares of Exelixis in the 4th quarter valued at approximately $838,000. Macquarie Group Ltd. lifted its stake in shares of Exelixis by 20.1% in the 4th quarter. Macquarie Group Ltd. now owns 1,533,419 shares of the biotechnology company’s stock valued at $46,616,000 after purchasing an additional 256,966 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Exelixis by 18.8% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 31,612 shares of the biotechnology company’s stock valued at $961,000 after purchasing an additional 5,005 shares during the period. Teachers Advisors LLC lifted its stake in shares of Exelixis by 17.7% in the 4th quarter. Teachers Advisors LLC now owns 364,514 shares of the biotechnology company’s stock valued at $11,081,000 after purchasing an additional 54,689 shares during the period. Finally, Paloma Partners Management Co purchased a new position in shares of Exelixis in the 4th quarter valued at approximately $330,000. Institutional investors own 80.55% 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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