Exelixis (EXEL) Stock Rating Lowered by BidaskClub

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Exelixis (NASDAQ:EXEL) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Friday.

Several other research firms have also commented on EXEL. ValuEngine raised Exelixis from a “strong sell” rating to a “sell” rating in a research report on Thursday, May 17th. Cann reaffirmed a “buy” rating and set a $40.00 price target on shares of Exelixis in a research report on Thursday, May 17th. Stifel Nicolaus lowered their target price on Exelixis from $29.00 to $25.00 and set a “hold” rating on the stock in a research note on Wednesday, August 1st. Zacks Investment Research upgraded Exelixis from a “hold” rating to a “strong-buy” rating and set a $25.00 target price on the stock in a research note on Tuesday, July 31st. Finally, Morgan Stanley began coverage on Exelixis in a research note on Monday, September 10th. They issued an “underweight” rating and a $19.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $31.30.

EXEL opened at $16.97 on Friday. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 16.21 and a beta of 1.96. Exelixis has a 52 week low of $16.54 and a 52 week high of $32.50.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Wednesday, August 1st. The biotechnology company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.16 by $0.12. The company had revenue of $186.10 million for the quarter, compared to analyst estimates of $157.37 million. Exelixis had a return on equity of 65.68% and a net margin of 48.17%. The firm’s revenue was up 88.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 earnings per share. equities analysts expect that Exelixis will post 1.03 EPS for the current year.

In other Exelixis news, insider Patrick J. Haley sold 2,361 shares of Exelixis stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $20.92, for a total value of $49,392.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael Morrissey sold 90,000 shares of Exelixis stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $17.82, for a total value of $1,603,800.00. The disclosure for this sale can be found here. Insiders sold a total of 714,128 shares of company stock worth $14,496,195 over the last quarter. Company insiders own 4.80% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. James Investment Research Inc. purchased a new stake in shares of Exelixis in the second quarter valued at approximately $133,000. TLP Group LLC purchased a new stake in shares of Exelixis in the first quarter valued at approximately $179,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Exelixis in the first quarter valued at approximately $215,000. Washington Trust Bank purchased a new stake in shares of Exelixis in the second quarter valued at approximately $213,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Exelixis in the second quarter valued at approximately $217,000. Hedge funds and other institutional investors own 80.92% of the company’s stock.

Exelixis Company Profile

Exelixis, Inc, a biotechnology company, engages in the discovery, development, and commercialization of new medicines to enhance care and outcomes for people with cancer. The company's products include CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of patients with progressive and metastatic medullary thyroid cancer.

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Analyst Recommendations for Exelixis (NASDAQ:EXEL)

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