Exelixis, Inc. (NASDAQ:EXEL)‘s stock had its “buy” rating restated by Piper Jaffray Companies in a report issued on Sunday. They presently have a $29.00 price target on the biotechnology company’s stock. Piper Jaffray Companies’ price target suggests a potential upside of 10.52% from the stock’s current price.
EXEL has been the subject of several other reports. Stifel Nicolaus restated a “hold” rating and set a $26.00 target price on shares of Exelixis in a research note on Thursday, September 7th. Zacks Investment Research cut Exelixis from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Deutsche Bank AG cut Exelixis from a “buy” rating to a “hold” rating and upped their target price for the stock from $26.00 to $29.00 in a research note on Thursday, August 3rd. BidaskClub cut Exelixis from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 14th. Finally, Cowen and Company restated an “outperform” rating on shares of Exelixis in a research note on Thursday, August 10th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $25.57.
Shares of Exelixis (EXEL) opened at 26.24 on Friday. The company’s 50-day moving average price is $27.13 and its 200-day moving average price is $23.24. The firm has a market capitalization of $7.71 billion, a PE ratio of 132.53 and a beta of 1.97. Exelixis has a 12-month low of $10.04 and a 12-month high of $29.50.
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 the consensus estimate of $0.04 by $0.02. Exelixis had a return on equity of 80.43% and a net margin of 18.20%. The firm had revenue of $99.01 million during the quarter, compared to analysts’ expectations of $85.27 million. During the same period in the prior year, the company earned ($0.15) earnings per share. The company’s quarterly revenue was up 173.1% on a year-over-year basis. Analysts anticipate that Exelixis will post $0.26 EPS for the current year.
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Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC lifted its stake in shares of Exelixis by 2.0% in the 2nd quarter. FMR LLC now owns 43,748,695 shares of the biotechnology company’s stock valued at $1,077,530,000 after acquiring an additional 857,452 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Exelixis by 7.2% in the 2nd quarter. Vanguard Group Inc. now owns 25,441,964 shares of the biotechnology company’s stock valued at $626,635,000 after acquiring an additional 1,706,893 shares during the last quarter. Meditor Group Ltd lifted its stake in shares of Exelixis by 5.5% in the 2nd quarter. Meditor Group Ltd now owns 20,229,713 shares of the biotechnology company’s stock valued at $498,258,000 after acquiring an additional 1,046,000 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Exelixis by 33,678.5% in the 1st quarter. BlackRock Inc. now owns 19,155,466 shares of the biotechnology company’s stock valued at $415,099,000 after acquiring an additional 19,098,757 shares during the last quarter. Finally, Matrix Capital Management Company LP lifted its stake in shares of Exelixis by 8.8% in the 2nd quarter. Matrix Capital Management Company LP now owns 15,117,460 shares of the biotechnology company’s stock valued at $372,343,000 after acquiring an additional 1,225,000 shares during the last quarter. Institutional investors own 79.20% of the company’s stock.
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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