Exelixis (EXEL) Raised to “Hold” at BidaskClub

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BidaskClub upgraded shares of Exelixis (NASDAQ:EXEL) from a sell rating to a hold rating in a report published on Thursday morning, BidAskClub reports.

Other equities research analysts also recently issued research reports about the company. Cowen reaffirmed a buy rating and set a $29.00 price target on shares of Exelixis in a report on Tuesday, April 23rd. Oppenheimer reissued a buy rating on shares of Exelixis in a report on Tuesday, March 19th. Morgan Stanley raised Exelixis from an underweight rating to an equal weight rating and set a $24.80 target price for the company in a report on Monday, March 18th. Zacks Investment Research downgraded Exelixis from a buy rating to a hold rating in a report on Monday, February 11th. Finally, ValuEngine raised Exelixis from a sell rating to a hold rating in a report on Wednesday, March 6th. Six analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Exelixis currently has an average rating of Buy and a consensus target price of $30.11.

Shares of Exelixis stock opened at $20.36 on Thursday. Exelixis has a 1 year low of $13.42 and a 1 year high of $25.31. The firm has a market cap of $6.14 billion, a price-to-earnings ratio of 14.24, a price-to-earnings-growth ratio of 0.48 and a beta of 2.06. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.56 and a quick ratio of 7.48.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24. Exelixis had a return on equity of 37.21% and a net margin of 75.97%. The business had revenue of $215.49 million during the quarter, compared to the consensus estimate of $206.06 million. During the same quarter last year, the firm posted $0.40 EPS. The company’s quarterly revenue was up .8% on a year-over-year basis. On average, sell-side analysts forecast that Exelixis will post 0.92 EPS for the current fiscal year.

In related news, insider Michael Morrissey sold 42,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $20.15, for a total value of $846,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Gisela Schwab sold 100,000 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $23.14, for a total value of $2,314,000.00. The disclosure for this sale can be found here. Insiders have sold 642,889 shares of company stock valued at $14,549,664 in the last three months. Insiders own 4.50% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Rehmann Capital Advisory Group raised its stake in Exelixis by 231.3% in the first quarter. Rehmann Capital Advisory Group now owns 2,438 shares of the biotechnology company’s stock valued at $58,000 after purchasing an additional 1,702 shares in the last quarter. Advisory Services Network LLC raised its stake in Exelixis by 18.9% in the first quarter. Advisory Services Network LLC now owns 11,310 shares of the biotechnology company’s stock valued at $269,000 after purchasing an additional 1,795 shares in the last quarter. Kore Private Wealth LLC acquired a new position in Exelixis in the first quarter valued at about $36,000. Ladenburg Thalmann Financial Services Inc. raised its stake in Exelixis by 21.3% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 63,510 shares of the biotechnology company’s stock valued at $1,517,000 after purchasing an additional 11,133 shares in the last quarter. Finally, Morgan Stanley raised its stake in Exelixis by 27.2% in the first quarter. Morgan Stanley now owns 1,498,484 shares of the biotechnology company’s stock valued at $35,664,000 after purchasing an additional 320,569 shares in the last quarter. 78.70% of the stock is owned by institutional investors and hedge funds.

About Exelixis

Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. 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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