Royal Bank Of Canada assumed coverage on shares of Exelixis, Inc. (NASDAQ:EXEL) in a research note released on Thursday, MarketBeat Ratings reports. The firm issued an outperform rating and a $32.00 price target on the biotechnology company’s stock.
Several other brokerages have also commented on EXEL. BidaskClub raised Exelixis from a buy rating to a strong-buy rating in a report on Friday, August 25th. TheStreet raised Exelixis from a c rating to a b- rating in a report on Monday, August 7th. Cowen and Company reaffirmed an outperform rating on shares of Exelixis in a report on Thursday, August 10th. William Blair reaffirmed an outperform rating on shares of Exelixis in a report on Thursday, July 27th. Finally, Cann reaffirmed a hold rating on shares of Exelixis in a report on Thursday, July 20th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. Exelixis currently has a consensus rating of Buy and an average target price of $26.51.
Exelixis (NASDAQ:EXEL) opened at 27.57 on Thursday. The company has a market cap of $8.10 billion, a P/E ratio of 139.24 and a beta of 1.97. The stock’s 50 day moving average price is $27.06 and its 200 day moving average price is $23.39. Exelixis has a 1-year low of $10.04 and a 1-year high of $29.50.
Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported $0.06 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 company had revenue of $99.01 million during the quarter, compared to analyst estimates of $85.27 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. Exelixis’s revenue was up 173.1% compared to the same quarter last year. On average, equities analysts anticipate that Exelixis will post $0.27 earnings per share for the current fiscal year.
In other news, CFO Christopher J. Senner sold 100,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $26.79, for a total value of $2,679,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael Morrissey sold 300,000 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $26.90, for a total value of $8,070,000.00. The disclosure for this sale can be found here. Insiders sold 560,640 shares of company stock worth $15,087,014 over the last 90 days. Company insiders own 5.10% of the company’s stock.
Several large investors have recently bought and sold shares of EXEL. BlackRock Inc. lifted its position 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 worth $415,099,000 after buying an additional 19,098,757 shares in the last quarter. Vanguard Group Inc. lifted its position 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 worth $514,339,000 after buying an additional 2,696,877 shares in the last quarter. Matrix Capital Management Company LP lifted its position 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 worth $372,343,000 after buying an additional 1,225,000 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Exelixis in the second quarter worth about $28,689,000. Finally, Meditor Group Ltd lifted its position 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 worth $498,258,000 after buying an additional 1,046,000 shares in the last quarter. Institutional investors own 79.20% of the company’s stock.
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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