Exelixis, Inc. (NASDAQ:EXEL) had its price objective lifted by Royal Bank Of Canada from $33.00 to $39.00 in a research report released on Tuesday, October 17th, MarketBeat reports. The firm currently has an outperform rating on the biotechnology company’s stock.
Several other equities research analysts have also commented on EXEL. Stifel Nicolaus restated a hold rating and set a $26.00 price target on shares of Exelixis in a research note on Tuesday, October 17th. Leerink Swann lowered Exelixis from an outperform rating to a market perform rating and dropped their price target for the stock from $34.00 to $28.00 in a research note on Friday, September 22nd. BidaskClub upgraded Exelixis from a buy rating to a strong-buy rating in a research note on Friday, August 25th. TheStreet upgraded Exelixis from a c rating to a b- rating in a research note on Monday, August 7th. Finally, Cowen and Company reiterated an outperform rating on shares of Exelixis in a research note on Thursday, August 10th. Six investment 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 company’s stock. The company has an average rating of Buy and an average price target of $31.38.
Shares of Exelixis (NASDAQ EXEL) traded up $1.19 during trading hours on Tuesday, hitting $27.44. The stock had a trading volume of 2,659,437 shares, compared to its average volume of 4,922,860. The firm has a market capitalization 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 released its earnings results on Wednesday, November 1st. The biotechnology company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.18. Exelixis had a return on equity of 105.47% and a net margin of 36.80%. The firm had revenue of $152.50 million for the quarter, compared to the consensus estimate of $104.91 million. During the same period in the prior year, the business posted ($0.04) earnings per share. The firm’s revenue for the quarter was up 145.2% compared to the same quarter last year. research analysts predict that Exelixis will post 0.43 EPS for the current year.
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In other Exelixis news, CFO Christopher J. Senner sold 100,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $26.79, for a total transaction of $2,679,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Stelios Papadopoulos sold 72,210 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $27.76, for a total value of $2,004,549.60. The disclosure for this sale can be found here. Insiders sold 970,152 shares of company stock valued at $25,923,457 in the last three months. 5.10% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. First Quadrant L P CA bought a new position in Exelixis during the 2nd quarter worth approximately $144,000. Meeder Asset Management Inc. bought a new position in Exelixis during the 1st quarter worth approximately $170,000. Fisher Asset Management LLC bought a new stake in shares of Exelixis in the 3rd quarter worth approximately $213,000. Wetherby Asset Management Inc. bought a new stake in shares of Exelixis in the 2nd quarter worth approximately $218,000. Finally, Caxton Associates LP bought a new stake in shares of Exelixis in the 2nd quarter worth approximately $227,000. 79.03% 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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