Several other brokerages have also weighed in on EXEL. S&P Equity Research lifted their price objective on Exelixis from $13.41 to $15.57 in a report on Wednesday, September 28th. Leerink Swann reissued an outperform rating and issued a $12.00 price objective on shares of Exelixis in a report on Tuesday, September 20th. William Blair reissued an outperform rating on shares of Exelixis in a report on Thursday, September 15th. Stifel Nicolaus lifted their target price on Exelixis from $12.00 to $15.00 and gave the company a buy rating in a report on Thursday, September 15th. Finally, Piper Jaffray Cos. raised Exelixis from a neutral rating to an overweight rating in a report on Monday, October 10th. Six investment analysts have rated the stock with a buy rating, The stock presently has a consensus rating of Buy and an average price target of $13.51.
Exelixis (NASDAQ:EXEL) opened at 11.368 on Wednesday. Exelixis has a 12-month low of $3.55 and a 12-month high of $15.58. The company’s market cap is $2.62 billion. The stock has a 50 day moving average of $12.75 and a 200-day moving average of $8.49.
Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Wednesday, August 3rd. The biotechnology company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.11. The firm earned $36.25 million during the quarter, compared to analysts’ expectations of $16.76 million. During the same period last year, the business posted ($0.22) EPS. The company’s revenue was up 353.7% compared to the same quarter last year. On average, equities research analysts anticipate that Exelixis will post ($0.61) earnings per share for the current fiscal year.
In other news, insider Gisela Schwab sold 42,338 shares of Exelixis stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $11.00, for a total transaction of $465,718.00. Following the completion of the sale, the insider now owns 174,354 shares in the company, valued at approximately $1,917,894. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 5.90% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Farallon Capital Management LLC purchased a new stake in Exelixis during the second quarter worth $38,386,000. Janus Capital Management LLC purchased a new stake in Exelixis during the second quarter worth $25,702,000. Lord Abbett & CO. LLC purchased a new stake in Exelixis during the second quarter worth $22,690,000. Sector Gamma AS purchased a new stake in Exelixis during the second quarter worth $16,087,000. Finally, Point72 Asset Management L.P. purchased a new stake in Exelixis during the second quarter worth $15,818,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.
Exelixis, Inc is a biopharmaceutical company. The Company is engaged in developing small molecule therapies for the treatment of cancer. It focuses on the development and commercialization of cabozantinib, an inhibitor of multiple receptor tyrosine kinases, in various tumor indications. Cabozantinib is indicated for the treatment of progressive, metastatic medullary thyroid cancer, and is sold under the brand name COMETRIQ.
Receive News & Ratings for Exelixis Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exelixis Inc. and related companies with MarketBeat.com's FREE daily email newsletter.