Exelixis (EXEL) Downgraded to Hold at BidaskClub

Exelixis (NASDAQ:EXEL) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Friday.

Several other brokerages also recently weighed in on EXEL. Oppenheimer restated a “hold” rating on shares of Exelixis in a report on Thursday, January 4th. Cann restated a “hold” rating on shares of Exelixis in a report on Thursday, January 4th. Zacks Investment Research upgraded Exelixis from a “hold” rating to a “strong-buy” rating and set a $35.00 price target for the company in a report on Tuesday, January 2nd. Needham & Company LLC raised their price target on Exelixis from $30.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, October 17th. Finally, Royal Bank of Canada raised their price target on Exelixis from $33.00 to $39.00 and gave the company an “outperform” rating in a report on Tuesday, October 17th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $32.13.

Exelixis (NASDAQ EXEL) opened at $27.86 on Friday. Exelixis has a twelve month low of $16.72 and a twelve month high of $32.50. The firm has a market capitalization of $8,240.00, a price-to-earnings ratio of 56.86, a PEG ratio of 0.89 and a beta of 1.88.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.18. Exelixis had a return on equity of 105.47% and a net margin of 36.80%. The firm had revenue of $152.50 million during the quarter, compared to the consensus estimate of $104.91 million. During the same period last year, the company earned ($0.04) earnings per share. The company’s revenue was up 145.2% on a year-over-year basis. equities analysts forecast that Exelixis will post 0.49 EPS for the current fiscal year.

In related news, Director Alan M. Garber sold 15,000 shares of Exelixis stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $30.30, for a total value of $454,500.00. Following the completion of the sale, the director now directly owns 64,829 shares in the company, valued at approximately $1,964,318.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.10% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Planning increased its holdings in Exelixis by 17.2% in the 4th quarter. Creative Planning now owns 108,297 shares of the biotechnology company’s stock worth $3,292,000 after buying an additional 15,910 shares in the last quarter. Bank of Montreal Can increased its holdings in Exelixis by 31.4% in the 4th quarter. Bank of Montreal Can now owns 1,159,964 shares of the biotechnology company’s stock worth $35,263,000 after buying an additional 276,908 shares in the last quarter. GSA Capital Partners LLP increased its holdings in Exelixis by 18.1% in the 3rd quarter. GSA Capital Partners LLP now owns 55,251 shares of the biotechnology company’s stock worth $1,339,000 after buying an additional 8,470 shares in the last quarter. California Public Employees Retirement System increased its holdings in Exelixis by 3.6% in the 3rd quarter. California Public Employees Retirement System now owns 663,539 shares of the biotechnology company’s stock worth $16,078,000 after buying an additional 23,139 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its holdings in Exelixis by 8.7% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 26,607 shares of the biotechnology company’s stock worth $645,000 after buying an additional 2,138 shares in the last quarter. Institutional investors own 80.84% 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.

Analyst Recommendations for Exelixis (NASDAQ:EXEL)

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