Exelixis (EXEL) Lifted to Outperform at Cann
Cann upgraded shares of Exelixis (NASDAQ:EXEL) from a market perform rating to an outperform rating in a research note issued to investors on Tuesday morning. They currently have $40.00 target price on the biotechnology company’s stock. The analysts noted that the move was a valuation call.
EXEL has been the topic of several other reports. Zacks Investment Research upgraded Exelixis from a hold rating to a strong-buy rating and set a $35.00 price target on the stock in a report on Tuesday, January 2nd. William Blair restated an outperform rating on shares of Exelixis in a report on Monday, February 12th. BidaskClub upgraded Exelixis from a hold rating to a buy rating in a report on Thursday, January 25th. UBS Group upgraded Exelixis from a market perform rating to an outperform rating in a report on Tuesday. Finally, Oppenheimer restated a hold rating on shares of Exelixis in a report on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Exelixis presently has an average rating of Buy and a consensus target price of $34.10.
Exelixis (EXEL) opened at $24.08 on Tuesday. The company has a market capitalization of $7,090.00, a PE ratio of 49.14, a price-to-earnings-growth ratio of 1.24 and a beta of 1.96. Exelixis has a 52 week low of $18.03 and a 52 week high of $32.50.
In related news, Director Lance Willsey sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $23.91, for a total value of $717,300.00. Following the sale, the director now directly owns 483,273 shares in the company, valued at $11,555,057.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alan M. Garber sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $30.30, for a total value of $454,500.00. Following the completion of the sale, the director now owns 64,829 shares in the company, valued at $1,964,318.70. The disclosure for this sale can be found here. Insiders sold 105,029 shares of company stock worth $2,787,337 over the last quarter. 5.10% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in EXEL. Dimensional Fund Advisors LP boosted its holdings in Exelixis by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 620,096 shares of the biotechnology company’s stock valued at $15,273,000 after acquiring an additional 28,195 shares during the last quarter. Fisher Asset Management LLC bought a new stake in Exelixis in the third quarter valued at approximately $213,000. Fox Run Management L.L.C. bought a new stake in Exelixis in the third quarter valued at approximately $334,000. First Trust Advisors LP boosted its holdings in Exelixis by 588.9% in the third quarter. First Trust Advisors LP now owns 1,086,135 shares of the biotechnology company’s stock valued at $26,317,000 after acquiring an additional 928,475 shares during the last quarter. Finally, Aperio Group LLC boosted its holdings in Exelixis by 8.9% in the third quarter. Aperio Group LLC now owns 63,557 shares of the biotechnology company’s stock valued at $1,540,000 after acquiring an additional 5,212 shares during the last quarter. Institutional investors and hedge funds own 79.48% of the company’s stock.
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Exelixis Company Profile
Exelixis, Inc is a biopharmaceutical company. The Company is focused on discovery, development and commercialization of new medicines to manage care and outcomes for people with cancer. The Company’s cabozantinib product is an inhibitor of multiple tyrosine kinases, including MET, AXL, and VEGF receptors.
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