Exelixis (NASDAQ:EXEL) Downgraded to Neutral Rating by Guggenheim

Guggenheim cut shares of Exelixis (NASDAQ:EXEL) from a buy rating to a neutral rating in a research note released on Monday morning, MarketBeat Ratings reports.

Other research analysts also recently issued reports about the stock. Leerink Partners upgraded shares of Exelixis from a “market perform” rating to an “outperform” rating and set a $48.00 price target on the stock in a research report on Tuesday, October 21st. Stifel Nicolaus increased their price target on shares of Exelixis from $38.00 to $41.00 and gave the stock a “hold” rating in a research report on Tuesday, July 29th. Wall Street Zen upgraded shares of Exelixis from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Morgan Stanley decreased their price target on shares of Exelixis from $50.00 to $44.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 21st. Finally, HC Wainwright decreased their price target on shares of Exelixis from $53.00 to $46.00 and set a “buy” rating on the stock in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $44.53.

Exelixis Trading Down 1.6%

EXEL opened at $38.06 on Monday. Exelixis has a 1-year low of $31.90 and a 1-year high of $49.62. The company has a market capitalization of $10.25 billion, a PE ratio of 18.30, a PEG ratio of 0.79 and a beta of 0.38. The firm’s 50 day simple moving average is $38.81 and its two-hundred day simple moving average is $40.30.

Hedge Funds Weigh In On Exelixis

Several institutional investors have recently bought and sold shares of EXEL. Nuveen LLC purchased a new position in shares of Exelixis in the 1st quarter worth $123,310,000. AQR Capital Management LLC grew its stake in shares of Exelixis by 73.8% in the 1st quarter. AQR Capital Management LLC now owns 6,893,889 shares of the biotechnology company’s stock worth $250,869,000 after buying an additional 2,926,884 shares in the last quarter. Norges Bank purchased a new position in shares of Exelixis in the 2nd quarter worth $122,099,000. Qube Research & Technologies Ltd grew its stake in shares of Exelixis by 120.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 3,047,222 shares of the biotechnology company’s stock worth $134,306,000 after buying an additional 1,665,110 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Exelixis by 40.2% in the 1st quarter. Invesco Ltd. now owns 5,572,189 shares of the biotechnology company’s stock worth $205,725,000 after buying an additional 1,596,948 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Company Profile

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.