A number of other research analysts have also recently commented on the company. Stifel Nicolaus boosted their price objective on Exelixis from $10.00 to $12.00 and gave the stock a buy rating in a research note on Thursday, August 4th. Leerink Swann restated a buy rating and set a $10.00 price objective on shares of Exelixis in a research note on Tuesday, July 19th. Cowen and Company restated a buy rating on shares of Exelixis in a research note on Wednesday, August 10th. Zacks Investment Research upgraded Exelixis from a hold rating to a buy rating and set a $14.00 price objective on the stock in a research note on Tuesday, September 13th. Finally, Piper Jaffray Cos. restated a neutral rating and set a $8.00 price objective (up previously from $5.00) on shares of Exelixis in a research note on Thursday, August 4th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $12.35.
Exelixis (NASDAQ:EXEL) opened at 12.72 on Wednesday. The company’s 50-day moving average price is $12.36 and its 200-day moving average price is $8.04. Exelixis has a 1-year low of $3.55 and a 1-year high of $15.58. The stock’s market cap is $2.93 billion.
Exelixis (NASDAQ:EXEL) last issued its earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.16) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.11. The firm earned $36.25 million during the quarter, compared to analyst estimates of $16.76 million. During the same quarter in the previous year, the business posted ($0.22) EPS. Exelixis’s revenue was up 353.7% compared to the same quarter last year. Analysts predict that Exelixis will post ($0.63) EPS for the current year.
In related news, insider Gisela Schwab sold 42,338 shares of the business’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $11.00, for a total value of $465,718.00. Following the transaction, the insider now owns 174,354 shares in the company, valued at $1,917,894. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.90% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Iguana Healthcare Management LLC acquired a new position in Exelixis during the first quarter valued at approximately $581,000. LPL Financial LLC boosted its position in Exelixis by 31.7% in the first quarter. LPL Financial LLC now owns 33,614 shares of the biotechnology company’s stock valued at $143,000 after buying an additional 8,100 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in Exelixis by 0.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 158,163 shares of the biotechnology company’s stock valued at $633,000 after buying an additional 820 shares during the period. Bellevue Group AG acquired a new position in Exelixis during the first quarter valued at approximately $680,000. Finally, A.R.T. Advisors LLC boosted its position in Exelixis by 47.3% in the first quarter. A.R.T. Advisors LLC now owns 205,144 shares of the biotechnology company’s stock valued at $820,000 after buying an additional 65,900 shares during the period. Institutional investors and hedge funds own 81.80% of the company’s stock.
Exelixis Company Profile
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.
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