Leerink Swann restated their outperform rating on shares of Exelixis Inc. (NASDAQ:EXEL) in a report released on Wednesday. Leerink Swann currently has a $15.00 price target on the biotechnology company’s stock.
A number of other equities research analysts have also weighed in on the company. S&P Equity Research boosted their target price on Exelixis from $13.41 to $15.57 in a research note on Wednesday. Stifel Nicolaus boosted their target price on Exelixis from $12.00 to $15.00 and gave the company a buy rating in a research note on Thursday, September 15th. William Blair reissued an outperform rating on shares of Exelixis in a research note on Thursday, September 15th. Zacks Investment Research raised Exelixis from a hold rating to a buy rating and set a $14.00 target price for the company in a research note on Tuesday, September 13th. Finally, Cowen and Company reissued a buy rating on shares of Exelixis in a research note on Wednesday, August 10th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $12.35.
Exelixis (NASDAQ:EXEL) opened at 13.35 on Wednesday. The company’s market capitalization is $3.07 billion. The stock’s 50 day moving average price is $12.19 and its 200-day moving average price is $7.82. Exelixis has a 12 month low of $3.55 and a 12 month high of $15.58.
Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Wednesday, August 3rd. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the company posted ($0.22) earnings per share. Exelixis’s revenue for the quarter was up 353.7% compared to the same quarter last year. On average, equities research analysts predict that Exelixis will post ($0.62) EPS for the current fiscal year.
In other Exelixis news, insider Gisela Schwab sold 42,338 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 174,354 shares of the company’s stock, valued at approximately $1,917,894. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.90% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Seven Eight Capital LLC acquired a new position in Exelixis during the second quarter worth approximately $105,000. GSA Capital Partners LLP purchased a new position in shares of Exelixis during the second quarter valued at about $117,000. Acrospire Investment Management LLC raised its position in shares of Exelixis by 444.4% in the second quarter. Acrospire Investment Management LLC now owns 15,253 shares of the biotechnology company’s stock valued at $119,000 after buying an additional 12,451 shares in the last quarter. Legal & General Group Plc raised its position in shares of Exelixis by 11.4% in the first quarter. Legal & General Group Plc now owns 33,497 shares of the biotechnology company’s stock valued at $136,000 after buying an additional 3,440 shares in the last quarter. Finally, Stifel Financial Corp raised its position in shares of Exelixis by 25.7% in the second quarter. Stifel Financial Corp now owns 17,600 shares of the biotechnology company’s stock valued at $138,000 after buying an additional 3,600 shares in the last quarter. 81.80% of the stock is owned by institutional investors and hedge funds.
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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