Oppenheimer Holdings Inc. started coverage on shares of Exelixis, Inc. (NASDAQ:EXEL) in a research note issued on Thursday. The brokerage set a “market perform” rating on the biotechnology company’s stock.
Several other research firms have also recently issued reports on EXEL. Stifel Nicolaus cut Exelixis from a “buy” rating to a “hold” rating and set a $22.00 target price on the stock. in a research note on Tuesday, February 28th. They noted that the move was a valuation call. Cann began coverage on Exelixis in a research note on Wednesday, March 15th. They set a “positive” rating on the stock. Zacks Investment Research cut Exelixis from a “buy” rating to a “hold” rating in a research note on Wednesday, March 1st. William Blair reissued an “outperform” rating on shares of Exelixis in a research note on Wednesday, March 1st. Finally, Cowen and Company reissued an “outperform” rating on shares of Exelixis in a research note on Tuesday, January 24th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Exelixis currently has an average rating of “Buy” and an average price target of $16.76.
Shares of Exelixis (NASDAQ:EXEL) opened at 22.03 on Thursday. The stock’s market capitalization is $6.41 billion. The company has a 50-day moving average price of $21.49 and a 200-day moving average price of $16.36. Exelixis has a 52-week low of $3.64 and a 52-week high of $23.49.
Exelixis (NASDAQ:EXEL) last posted its earnings results on Monday, February 27th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.13. The business had revenue of $77.58 million for the quarter, compared to analysts’ expectations of $64.88 million. During the same period last year, the firm posted ($0.19) earnings per share. Exelixis’s quarterly revenue was up 680.7% on a year-over-year basis. On average, equities analysts anticipate that Exelixis will post $0.05 earnings per share for the current year.
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In related news, Director Charles Cohen sold 10,000 shares of Exelixis stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $21.82, for a total transaction of $218,200.00. Following the sale, the director now directly owns 238,180 shares in the company, valued at $5,197,087.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vincent T. Marchesi sold 40,000 shares of Exelixis stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $21.98, for a total value of $879,200.00. Following the sale, the director now owns 160,070 shares in the company, valued at $3,518,338.60. The disclosure for this sale can be found here. Insiders have sold 407,250 shares of company stock worth $8,635,613 over the last 90 days. 5.90% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC purchased a new stake in Exelixis during the third quarter valued at $107,000. Geduld E E purchased a new stake in Exelixis during the third quarter valued at $128,000. Pittenger & Anderson Inc. purchased a new stake in Exelixis during the fourth quarter valued at $149,000. Commerzbank Aktiengesellschaft FI purchased a new stake in Exelixis during the fourth quarter valued at $169,000. Finally, Fox Run Management L.L.C. raised its stake in Exelixis by 12.5% in the third quarter. Fox Run Management L.L.C. now owns 11,700 shares of the biotechnology company’s stock valued at $150,000 after buying an additional 1,300 shares in the last quarter. Institutional investors own 78.40% of the company’s stock.
Exelixis Company Profile
Exelixis, Inc is a biopharmaceutical company. The Company is engaged in developing small molecule therapies for the treatment of cancer. It focuses on the development and commercialization of cabozantinib, an inhibitor of multiple receptor tyrosine kinases, in various tumor indications. Cabozantinib is indicated for the treatment of progressive, metastatic medullary thyroid cancer, and is sold under the brand name COMETRIQ.
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