Exelixis (EXEL) – Investment Analysts’ Recent Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of Exelixis (NASDAQ: EXEL) in the last few weeks:

  • 8/10/2017 – Exelixis had its “outperform” rating reaffirmed by analysts at Cowen and Company.
  • 8/7/2017 – Exelixis was upgraded by analysts at TheStreet from a “c” rating to a “b-” rating.
  • 8/3/2017 – Exelixis was downgraded by analysts at Deutsche Bank AG from a “buy” rating to a “hold” rating. They now have a $29.00 price target on the stock, up previously from $26.00.
  • 8/3/2017 – Exelixis had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $29.00 price target on the stock.
  • 8/3/2017 – Exelixis had its “hold” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $26.00 price target on the stock.
  • 7/27/2017 – Exelixis had its “outperform” rating reaffirmed by analysts at William Blair.
  • 7/20/2017 – Exelixis had its “hold” rating reaffirmed by analysts at Cann. They wrote, “Exelixis, Inc. announced today a settlement of the company’s dispute with Genentech, a member of the Roche Group, concerning the parties’ collaboration for the development and commercialization of Cotellic (cobimetinib). As part of the settlement, effective July 1, 2017, the companies have amended the existing Collaboration Agreement to revise the revenue and cost-sharing arrangements for the collaboration. The Amendment resolves the companies’ dispute pursuant to the arbitration demand filed on June 3, 2016.””
  • 7/13/2017 – Exelixis is now covered by analysts at SunTrust Banks, Inc.. They set a “buy” rating and a $33.00 price target on the stock.
  • 7/11/2017 – Exelixis was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $29.00 price target on the stock. According to Zacks, “Exelixis received a major boost with the FDA approval of Cabometyx tablets in Apr 2016. Initial uptake of the drug was encouraging and is expected to propel the top line in the forthcoming quarters in 2017. The sequential increase in Cabometyx sales is also a positive. Moreover, Cabometyx was also approved in the EU. Meanwhile, Exelixis is developing cabozantinib in a broad development program and plans to file a supplemental New Drug Application (sNDA) in the third quarter of 2017 for advanced RCC. A potential label expansion will further boost sales. Exelixis also has collaborations with Bristol-Myers and Roche on the development of cabozantinib in combination with immunotherapy agents. Exelixis’ share price outperformed the Zacks classified Biomedical and Genetics industry year to date. However, the company is heavily dependent on Cabometyx for growth now.  Operating expenses are also projected to increase.”
  • 7/4/2017 – Exelixis was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $28.00 price target on the stock. According to Zacks, “Exelixis received a major boost with the FDA approval of Cabometyx tablets in Apr 2016. Initial uptake of the drug was encouraging and is expected to propel the top line in the forthcoming quarters in 2017. The sequential increase in Cabometyx sales is a positive for the company. Moreover, Cabometyx also received approval in the EU in September, which triggered a milestone payment of $60 million to Exelixis. Meanwhile, Exelixis is developing cabozantinib in a broad development program and plans to file a supplemental New Drug Application (sNDA) in the third quarter of 2017 for advanced RCC. A potential label expansion will further boost sales. Exelixis’ share price outperformed the Zacks classified Biomedical and Genetics industry year to date. However, the company is heavily dependent on Cabometyx for growth now.  Operating expenses are also projected to increase.”
  • 6/28/2017 – Exelixis was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “Exelixis received a major boost with the FDA approval of Cabometyx tablets in Apr 2016. Initial uptake of the drug was encouraging and is expected to propel the top line in the forthcoming quarters in 2017. The sequential increase in Cabometyx sales is a positive for the company. Moreover, Cabometyx also received approval in the EU in September, which triggered a milestone payment of $60 million to Exelixis. Moreover, Exelixis is developing cabozantinib in a broad development program and plans to file a supplemental New Drug Application (sNDA) in the third quarter of 2017 for advanced RCC. Exelixis’ share price outperformed the Zacks classified Biomedical and Genetics industry year to date. However, the company is heavily dependent on Cabometyx for growth now.  Operating expenses are also projected to increase.”
  • 6/27/2017 – Exelixis was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $29.00 price target on the stock. According to Zacks, “Exelixis received a major boost with the FDA approval of Cabometyx tablets in Apr 2016. Initial uptake of the drug was encouraging and is expected to propel the top line in the forthcoming quarters in 2017. The sequential increase in Cabometyx sales is a positive for the company. Moreover, Cabometyx also received approval in the EU in September, which triggered a milestone payment of $60 million to Exelixis. Moreover, Exelixis is developing cabozantinib in a broad development program and plans to file a supplemental New Drug Application (sNDA) in the third quarter of 2017 for advanced RCC. Moreover, successful commercialization of the other marketed drug, Cotellic in the U.S. will boost the top line. Exelixis’ share price outperformed the Zacks classified Biomedical and Genetics industry year to date.”
  • 6/26/2017 – Exelixis had its “outperform” rating reaffirmed by analysts at William Blair.
  • 6/23/2017 – Exelixis was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 6/16/2017 – Exelixis had its “outperform” rating reaffirmed by analysts at William Blair.
  • 6/12/2017 – Exelixis is now covered by analysts at Oppenheimer Holdings, Inc.. They set a “hold” rating on the stock.

Shares of Exelixis, Inc. (NASDAQ EXEL) traded down 2.72% during trading on Thursday, hitting $26.45. The stock had a trading volume of 3,201,483 shares. Exelixis, Inc. has a 12-month low of $10.04 and a 12-month high of $28.45. The stock has a market capitalization of $7.77 billion, a P/E ratio of 133.59 and a beta of 1.89. The stock’s 50-day moving average is $25.98 and its 200-day moving average is $22.20.

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 predict that Exelixis, Inc. will post $0.26 EPS for the current fiscal year.

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

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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