Exelixis (NASDAQ:EXEL) Lowered to Buy at StockNews.com

StockNews.com lowered shares of Exelixis (NASDAQ:EXELFree Report) from a strong-buy rating to a buy rating in a report released on Tuesday morning.

A number of other equities research analysts also recently commented on the company. HC Wainwright reiterated a buy rating and issued a $28.00 price objective on shares of Exelixis in a report on Friday, May 3rd. TheStreet upgraded Exelixis from a c+ rating to a b- rating in a report on Monday, March 18th. William Blair restated an outperform rating on shares of Exelixis in a report on Wednesday, May 1st. Royal Bank of Canada increased their price target on Exelixis from $26.00 to $28.00 and gave the stock an outperform rating in a report on Wednesday, February 7th. Finally, Barclays downgraded Exelixis from an overweight rating to an equal weight rating and set a $25.00 price target for the company. in a report on Thursday, April 11th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $26.13.

Get Our Latest Analysis on Exelixis

Exelixis Stock Down 0.9 %

EXEL stock opened at $21.74 on Tuesday. Exelixis has a twelve month low of $18.64 and a twelve month high of $24.34. The company has a market cap of $6.59 billion, a P/E ratio of 33.97, a price-to-earnings-growth ratio of 0.53 and a beta of 0.56. The business’s fifty day moving average is $22.29 and its 200-day moving average is $22.31.

Exelixis (NASDAQ:EXELGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The biotechnology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.16). The company had revenue of $425.23 million during the quarter, compared to the consensus estimate of $461.04 million. Exelixis had a net margin of 11.10% and a return on equity of 8.85%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.12 EPS. Research analysts anticipate that Exelixis will post 1.15 earnings per share for the current fiscal year.

Insider Activity at Exelixis

In related news, Director Alan M. Garber sold 19,205 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $24.01, for a total transaction of $461,112.05. Following the completion of the transaction, the director now directly owns 35,703 shares of the company’s stock, valued at $857,229.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Exelixis news, Director David Edward Johnson acquired 200,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was bought at an average cost of $20.32 per share, with a total value of $4,064,000.00. Following the completion of the transaction, the director now directly owns 1,300,730 shares in the company, valued at approximately $26,430,833.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Alan M. Garber sold 19,205 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $24.01, for a total value of $461,112.05. Following the completion of the sale, the director now directly owns 35,703 shares of the company’s stock, valued at $857,229.03. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,814 shares of company stock valued at $939,475. Insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

Hedge funds have recently made changes to their positions in the business. Fisher Asset Management LLC lifted its position in shares of Exelixis by 232.6% in the fourth quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 728 shares during the last quarter. Contravisory Investment Management Inc. acquired a new stake in shares of Exelixis in the fourth quarter valued at approximately $26,000. GAMMA Investing LLC acquired a new stake in shares of Exelixis in the fourth quarter valued at approximately $27,000. Rise Advisors LLC acquired a new stake in shares of Exelixis in the first quarter valued at approximately $28,000. Finally, USA Financial Formulas lifted its position in shares of Exelixis by 1,548.0% in the fourth quarter. USA Financial Formulas now owns 2,060 shares of the biotechnology company’s stock valued at $49,000 after buying an additional 1,935 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

About Exelixis

(Get Free Report)

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers 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 progressive and metastatic medullary thyroid cancer.

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