Exelixis (NASDAQ:EXEL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Exelixis (NASDAQ:EXEL) from a buy rating to a strong-buy rating in a report published on Monday morning,Wall Street Zen reports.

Several other brokerages have also commented on EXEL. Wells Fargo & Company upped their price target on Exelixis from $40.00 to $49.00 and gave the company an “equal weight” rating in a research note on Monday, July 13th. BMO Capital Markets reiterated a “market perform” rating and set a $60.00 price target on shares of Exelixis in a report on Friday, October 30th. Citigroup reissued a “market outperform” rating on shares of Exelixis in a research report on Monday, October 19th. Weiss Ratings upgraded shares of Exelixis from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, October 8th. Finally, Morgan Stanley upped their target price on shares of Exelixis from $53.00 to $60.00 and gave the company an “equal weight” rating in a research report on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $58.85.

Exelixis Stock Performance

EXEL stock opened at $70.70 on Monday. Exelixis has a one year low of $39.71 and a one year high of $73.69. The firm has a market cap of $17.25 billion, a PE ratio of 21.17, a PEG ratio of 1.82 and a beta of 0.45. The firm’s 50 day moving average price is $61.86 and its 200-day moving average price is $51.97.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Thursday, October 29th. The biotechnology company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.05. The company had revenue of $658.70 million during the quarter, compared to analyst estimates of $646.51 million. Exelixis had a return on equity of 45.54% and a net margin of 35.45%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.78 earnings per share. Equities research analysts predict that Exelixis will post 3.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Exelixis in the 1st quarter valued at $27,000. Western Wealth Management LLC purchased a new position in Exelixis during the 1st quarter valued at about $29,000. Gen Wealth Partners Inc purchased a new position in Exelixis during the 3rd quarter valued at about $38,000. Mather Group LLC. grew its position in Exelixis by 124.6% in the 3rd quarter. Mather Group LLC. now owns 757 shares of the biotechnology company’s stock valued at $44,000 after acquiring an additional 420 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Exelixis in the 2nd quarter valued at about $46,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

About Exelixis

Exelixis, Inc. is a biotechnology company focused on discovering, developing and commercializing medicines for cancer. Founded in 1994 and headquartered in Alameda, California, the company has built its business around oncology treatments and continues to advance a pipeline of potential cancer therapies. Its principal marketed medicine is cabozantinib, sold in the United States as Cabometyx and Cometriq. Cabometyx is used to treat certain patients with advanced kidney, liver and thyroid cancers, while Cometriq is used for medullary thyroid cancer.