Exelixis, Inc. (EXEL) Receives “Outperform” Rating from William Blair

William Blair reiterated their outperform rating on shares of Exelixis, Inc. (NASDAQ:EXEL) in a research report sent to investors on Thursday, July 27th.

A number of other research firms also recently weighed in on EXEL. Oppenheimer Holdings, Inc. initiated coverage on Exelixis in a research report on Monday, June 12th. They set a hold rating for the company. Zacks Investment Research upgraded Exelixis from a hold rating to a strong-buy rating and set a $29.00 target price for the company in a research report on Tuesday, July 11th. Cann restated a hold rating on shares of Exelixis in a research report on Thursday, July 20th. BidaskClub upgraded Exelixis from a hold rating to a buy rating in a research report on Friday, June 23rd. Finally, Needham & Company LLC initiated coverage on Exelixis in a research report on Friday, March 31st. They set a buy rating and a $28.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $25.57.

Exelixis (EXEL) opened at 27.19 on Thursday. The company has a market cap of $7.99 billion, a PE ratio of 141.61 and a beta of 1.89. Exelixis has a 52 week low of $10.04 and a 52 week high of $28.45. The company’s 50-day moving average price is $25.47 and its 200 day moving average price is $21.97.

Exelixis (NASDAQ:EXEL) last released its earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The company had revenue of $99.01 million during the quarter, compared to the consensus estimate of $85.27 million. Exelixis had a return on equity of 80.43% and a net margin of 18.20%. The firm’s quarterly revenue was up 173.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.15) earnings per share. On average, analysts anticipate that Exelixis will post $0.25 EPS for the current year.

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In other Exelixis news, insider Patrick J. Haley sold 5,000 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $18.46, for a total value of $92,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carl B. Feldbaum sold 32,988 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $21.58, for a total value of $711,881.04. Following the completion of the transaction, the director now directly owns 52,721 shares of the company’s stock, valued at $1,137,719.18. The disclosure for this sale can be found here. Corporate insiders own 5.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of EXEL. Legal & General Group Plc boosted its position in Exelixis by 1.3% in the first quarter. Legal & General Group Plc now owns 84,763 shares of the biotechnology company’s stock worth $1,834,000 after buying an additional 1,078 shares during the last quarter. Aperio Group LLC boosted its position in Exelixis by 2.7% in the second quarter. Aperio Group LLC now owns 58,345 shares of the biotechnology company’s stock worth $1,437,000 after buying an additional 1,514 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Exelixis by 7.0% in the second quarter. Teacher Retirement System of Texas now owns 23,251 shares of the biotechnology company’s stock worth $573,000 after buying an additional 1,517 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Exelixis by 14.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,751 shares of the biotechnology company’s stock worth $320,000 after buying an additional 1,838 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its position in Exelixis by 26.6% in the second quarter. Meeder Asset Management Inc. now owns 9,957 shares of the biotechnology company’s stock worth $245,000 after buying an additional 2,091 shares during the last quarter. 80.19% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Exelixis (NASDAQ:EXEL)

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