BidaskClub Downgrades Exelixis (EXEL) to Hold

BidaskClub cut shares of Exelixis (NASDAQ:EXEL) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

A number of other equities analysts have also weighed in on the company. Oppenheimer reiterated a hold rating on shares of Exelixis in a research report on Wednesday. Cann reiterated a hold rating on shares of Exelixis in a research 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 research report on Tuesday, January 2nd. SunTrust Banks reiterated a buy rating and issued a $38.00 price target on shares of Exelixis in a research report on Thursday, December 21st. Finally, TheStreet upgraded Exelixis from a c+ rating to a b- rating in a research report on Wednesday, October 18th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Exelixis presently has an average rating of Buy and an average target price of $32.13.

Shares of Exelixis (NASDAQ:EXEL) traded up $0.14 during mid-day trading on Friday, reaching $28.00. The company had a trading volume of 4,680,000 shares, compared to its average volume of 2,730,000. Exelixis has a fifty-two week low of $16.72 and a fifty-two week high of $32.50. The company has a market capitalization of $8,330.00, a PE ratio of 57.14, a P/E/G ratio of 0.84 and a beta of 1.88.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Wednesday, November 1st. The biotechnology company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $152.50 million during the quarter, compared to analysts’ expectations of $104.91 million. During the same quarter last year, the business posted ($0.04) earnings per share. The company’s quarterly revenue was up 145.2% on a year-over-year basis. research analysts expect that Exelixis will post 0.49 earnings per share for the current fiscal year.

In related news, Director Alan M. Garber sold 15,000 shares of the stock in a transaction on 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 transaction, the director now 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 at the SEC website. Company insiders own 5.10% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. First Quadrant L P CA lifted its stake in Exelixis by 6,771.4% in the 3rd quarter. First Quadrant L P CA now owns 402,528 shares of the biotechnology company’s stock worth $9,753,000 after acquiring an additional 396,670 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in Exelixis in the 2nd quarter worth about $3,449,000. Stevens Capital Management LP lifted its stake in Exelixis by 55.5% in the 3rd quarter. Stevens Capital Management LP now owns 127,049 shares of the biotechnology company’s stock worth $3,078,000 after acquiring an additional 45,336 shares in the last quarter. Vident Investment Advisory LLC purchased a new stake in Exelixis in the 3rd quarter worth about $783,000. Finally, Schroder Investment Management Group purchased a new stake in Exelixis in the 3rd quarter worth about $334,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

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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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