Exelixis (NASDAQ:EXEL) had its target price cut by Guggenheim from $33.00 to $25.00 in a research report sent to investors on Tuesday morning, BenzingaRatingsTable reports. They currently have a buy rating on the biotechnology company’s stock.
Other equities analysts also recently issued research reports about the stock. Cowen set a $25.00 target price on shares of Exelixis and gave the stock a buy rating in a report on Wednesday, July 31st. BidaskClub downgraded shares of Exelixis from a hold rating to a sell rating in a research note on Wednesday, August 28th. ValuEngine raised shares of Exelixis from a strong sell rating to a sell rating in a research note on Thursday, October 10th. Zacks Investment Research downgraded shares of Exelixis from a hold rating to a sell rating and set a $19.00 price target on the stock. in a research note on Thursday, October 3rd. Finally, BMO Capital Markets decreased their price target on shares of Exelixis from $23.00 to $19.00 and set a market perform rating on the stock in a research note on Tuesday, October 8th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $27.13.
Shares of EXEL stock traded down $0.54 during mid-day trading on Tuesday, hitting $16.46. The company had a trading volume of 75,270 shares, compared to its average volume of 2,596,653. Exelixis has a 52-week low of $13.42 and a 52-week high of $25.31. The stock’s 50 day moving average price is $18.44 and its 200-day moving average price is $20.32. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.64 and a quick ratio of 8.53. The company has a market capitalization of $5.14 billion, a P/E ratio of 11.51 and a beta of 1.81.
Exelixis (NASDAQ:EXEL) last released its earnings results on Wednesday, July 31st. The biotechnology company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. Exelixis had a net margin of 70.52% and a return on equity of 31.31%. The firm had revenue of $240.28 million for the quarter, compared to the consensus estimate of $226.97 million. During the same quarter in the previous year, the firm earned $0.31 earnings per share. The company’s quarterly revenue was up 29.1% compared to the same quarter last year. On average, equities research analysts expect that Exelixis will post 0.92 earnings per share for the current year.
In other news, insider Michael Morrissey sold 35,040 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $20.25, for a total value of $709,560.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director George Poste sold 20,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $20.60, for a total transaction of $412,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 350,974 shares of company stock worth $7,005,921. Insiders own 4.50% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of EXEL. Renaissance Technologies LLC grew its holdings in shares of Exelixis by 40.7% in the second quarter. Renaissance Technologies LLC now owns 13,454,473 shares of the biotechnology company’s stock worth $287,522,000 after purchasing an additional 3,889,200 shares during the last quarter. Nuveen Asset Management LLC bought a new position in shares of Exelixis in the second quarter worth about $47,309,000. Orbimed Advisors LLC grew its holdings in shares of Exelixis by 39.7% in the second quarter. Orbimed Advisors LLC now owns 3,912,900 shares of the biotechnology company’s stock worth $83,619,000 after purchasing an additional 1,111,000 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Exelixis by 20.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 6,143,165 shares of the biotechnology company’s stock worth $131,279,000 after purchasing an additional 1,051,976 shares during the last quarter. Finally, Prudential Financial Inc. grew its holdings in shares of Exelixis by 100.8% in the second quarter. Prudential Financial Inc. now owns 1,709,957 shares of the biotechnology company’s stock worth $36,542,000 after purchasing an additional 858,590 shares during the last quarter. Hedge funds and other institutional investors own 77.41% of the company’s stock.
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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