Stifel Nicolaus Raises Exelixis Inc. (EXEL) Price Target to $15.00
Exelixis Inc. (NASDAQ:EXEL) had its price objective increased by Stifel Nicolaus from $12.00 to $15.00 in a report released on Thursday. They currently have a buy rating on the biotechnology company’s stock.
Other analysts also recently issued reports about the stock. Leerink Swann reiterated an outperform rating and issued a $12.00 price target on shares of Exelixis in a research report on Thursday, August 18th. Cowen and Company reiterated an outperform rating on shares of Exelixis in a research report on Tuesday, June 7th. Zacks Investment Research upgraded shares of Exelixis from a hold rating to a buy rating and set a $14.00 price target on the stock in a research report on Tuesday, September 13th. Piper Jaffray Cos. reissued a neutral rating and set a $8.00 target price (up from $5.00) on shares of Exelixis in a research note on Thursday, August 4th. Finally, William Blair reissued an outperform rating on shares of Exelixis in a research note on Thursday, September 15th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $11.10.
Shares of Exelixis (NASDAQ:EXEL) opened at 14.16 on Thursday. The stock has a 50 day moving average of $11.45 and a 200-day moving average of $7.38. The firm’s market capitalization is $3.26 billion. Exelixis has a 52 week low of $3.55 and a 52 week high of $14.28.
Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.11. The firm earned $36.25 million during the quarter, compared to analyst estimates of $16.76 million. The business’s revenue was up 353.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.22) earnings per share. Equities analysts anticipate that Exelixis will post ($0.63) earnings per share for the current fiscal year.
In related news, insider Gisela Schwab sold 42,338 shares of the stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $11.00, for a total transaction of $465,718.00. Following the completion of the sale, the insider now directly owns 174,354 shares of the company’s stock, valued at approximately $1,917,894. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 5.90% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Bellevue Group AG acquired a new position in shares of Exelixis during the first quarter valued at $680,000. A.R.T. Advisors LLC boosted its position in shares of Exelixis by 47.3% in the first quarter. A.R.T. Advisors LLC now owns 205,144 shares of the biotechnology company’s stock valued at $820,000 after buying an additional 65,900 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Exelixis by 11.4% in the first quarter. Legal & General Group Plc now owns 33,497 shares of the biotechnology company’s stock valued at $136,000 after buying an additional 3,440 shares in the last quarter. Bayesian Capital Management LP acquired a new position in shares of Exelixis during the first quarter valued at $212,000. Finally, Renaissance Technologies LLC boosted its position in shares of Exelixis by 83.0% in the first quarter. Renaissance Technologies LLC now owns 1,008,919 shares of the biotechnology company’s stock valued at $4,036,000 after buying an additional 457,569 shares in the last quarter. 81.80% of the stock is owned by institutional investors.
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.
Receive News & Ratings for Exelixis Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exelixis Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.