Exelixis (NASDAQ:EXEL) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Friday.
Other analysts have also recently issued research reports about the stock. Cann reiterated a “hold” rating on shares of Exelixis in a research report on Monday, October 16th. Leerink Swann cut shares of Exelixis from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $34.00 to $28.00 in a research report on Friday, September 22nd. Oppenheimer restated a “hold” rating on shares of Exelixis in a research report on Monday, October 16th. SunTrust Banks upped their price objective on shares of Exelixis from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, October 16th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $26.00 price objective on shares of Exelixis in a research report on Tuesday, October 17th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $32.13.
Shares of Exelixis (EXEL) traded down $0.27 during trading on Friday, hitting $31.62. 2,240,000 shares of the company’s stock traded hands, compared to its average volume of 2,359,999. The company has a market cap of $9,354.87, a PE ratio of 62.00, a price-to-earnings-growth ratio of 0.95 and a beta of 1.88. Exelixis has a 52 week low of $14.94 and a 52 week high of $32.50.
Exelixis (NASDAQ:EXEL) last issued its earnings results on Wednesday, November 1st. The biotechnology company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.08 by $0.18. The company had revenue of $152.50 million during the quarter, compared to analysts’ expectations of $104.91 million. Exelixis had a net margin of 36.80% and a return on equity of 105.47%. The business’s revenue for the quarter was up 145.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.04) EPS. research analysts forecast that Exelixis will post 0.49 earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Exelixis in the 3rd quarter valued at $120,000. Fisher Asset Management LLC acquired a new position in Exelixis in the 3rd quarter worth $213,000. Caxton Associates LP acquired a new position in Exelixis in the 2nd quarter worth $227,000. Private Advisor Group LLC acquired a new position in Exelixis in the 2nd quarter worth $247,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in Exelixis in the 3rd quarter worth $236,000. Institutional investors and hedge funds 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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