Exelixis, Inc. (NASDAQ:EXEL) had its target price increased by analysts at Needham & Company LLC from $30.00 to $33.00 in a research report issued to clients and investors on Tuesday, October 17th, MarketBeat.com reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Needham & Company LLC’s price target suggests a potential upside of 20.53% from the stock’s previous close.
Other equities analysts have also issued research reports about the stock. TheStreet upgraded shares of Exelixis from a “c” rating to a “b-” rating in a research report on Monday, August 7th. BidaskClub lowered shares of Exelixis from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 14th. SunTrust Banks, Inc. began coverage on shares of Exelixis in a research report on Thursday, July 13th. They set a “buy” rating and a $33.00 target price for the company. Piper Jaffray Companies reiterated a “buy” rating and set a $29.00 target price on shares of Exelixis in a research report on Thursday, August 3rd. Finally, Zacks Investment Research upgraded shares of Exelixis from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Tuesday, October 10th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $31.38.
Shares of Exelixis (NASDAQ:EXEL) traded up $1.13 during mid-day trading on Tuesday, hitting $27.38. 3,193,279 shares of the stock traded hands, compared to its average volume of 4,922,860. The company has a market cap of $7,766.15, a PE ratio of 51.47, a P/E/G ratio of 1.33 and a beta of 1.89.
Exelixis (NASDAQ:EXEL) last announced its earnings results on Wednesday, November 1st. The biotechnology company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.18. The company had revenue of $152.50 million during the quarter, compared to the consensus estimate of $104.91 million. Exelixis had a net margin of 36.80% and a return on equity of 105.47%. The firm’s revenue for the quarter was up 145.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.04) earnings per share. equities research analysts anticipate that Exelixis will post 0.43 earnings per share for the current fiscal year.
In related news, EVP Jeffrey Hessekiel sold 27,302 shares of Exelixis stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $24.28, for a total value of $662,892.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Gisela Schwab sold 100,000 shares of Exelixis stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $23.79, for a total transaction of $2,379,000.00. The disclosure for this sale can be found here. Insiders sold 970,152 shares of company stock worth $25,923,457 in the last 90 days. Company insiders own 5.10% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. First Quadrant L P CA bought a new stake in shares of Exelixis during the 2nd quarter valued at $144,000. Meeder Asset Management Inc. bought a new stake in shares of Exelixis during the 1st quarter valued at $170,000. Fisher Asset Management LLC bought a new stake in shares of Exelixis during the 3rd quarter valued at $213,000. Wetherby Asset Management Inc. bought a new stake in shares of Exelixis during the 2nd quarter valued at $218,000. Finally, Caxton Associates LP purchased a new position in shares of Exelixis in the 2nd quarter worth about $227,000. Hedge funds and other institutional investors own 79.03% of the company’s stock.
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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