Exelixis’ (EXEL) “Buy” Rating Reaffirmed at SunTrust Banks

SunTrust Banks reaffirmed their buy rating on shares of Exelixis (NASDAQ:EXEL) in a research note released on Thursday morning. The firm currently has a $38.00 target price on the biotechnology company’s stock. SunTrust Banks also issued estimates for Exelixis’ Q4 2018 earnings at $0.36 EPS, FY2018 earnings at $0.73 EPS, FY2019 earnings at $1.02 EPS, FY2020 earnings at $1.59 EPS and FY2021 earnings at $2.16 EPS.

EXEL has been the subject of several other research reports. Zacks Investment Research raised shares of Exelixis from a hold rating to a buy rating and set a $29.00 price objective for the company in a research note on Tuesday, October 10th. Royal Bank of Canada upped their price objective on shares of Exelixis from $33.00 to $39.00 and gave the company an outperform rating in a research note on Tuesday, October 17th. Needham & Company LLC reaffirmed a buy rating and set a $30.00 price objective on shares of Exelixis in a research note on Monday, October 2nd. Stifel Nicolaus reaffirmed a hold rating and set a $26.00 price objective on shares of Exelixis in a research note on Thursday, September 7th. Finally, TheStreet raised shares of Exelixis from a c+ rating to a b- rating in a research note on Wednesday, October 18th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Exelixis currently has a consensus rating of Buy and a consensus target price of $31.75.

Shares of Exelixis (NASDAQ EXEL) opened at $29.47 on Thursday. Exelixis has a one year low of $14.22 and a one year high of $32.50. The stock has a market cap of $8,227.68, a PE ratio of 60.14, a P/E/G ratio of 1.25 and a beta of 1.89.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Wednesday, November 1st. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.18. Exelixis had a net margin of 36.80% and a return on equity of 105.47%. The company had revenue of $152.50 million during the quarter, compared to analysts’ expectations of $104.91 million. During the same quarter in the prior year, the company earned ($0.04) EPS. Exelixis’s revenue was up 145.2% compared to the same quarter last year. analysts predict that Exelixis will post 0.49 earnings per share for the current year.

In other news, insider Gisela Schwab sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $23.79, for a total value of $2,379,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Jeffrey Hessekiel sold 27,302 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $24.28, for a total transaction of $662,892.56. The disclosure for this sale can be found here. Corporate insiders own 5.10% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Great West Life Assurance Co. Can lifted its holdings in Exelixis by 22.3% during the 2nd quarter. Great West Life Assurance Co. Can now owns 34,671 shares of the biotechnology company’s stock worth $852,000 after buying an additional 6,329 shares in the last quarter. Sei Investments Co. lifted its holdings in Exelixis by 332.2% during the 2nd quarter. Sei Investments Co. now owns 103,055 shares of the biotechnology company’s stock worth $2,538,000 after buying an additional 79,210 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Exelixis during the 2nd quarter worth approximately $1,138,000. Rhumbline Advisers lifted its holdings in Exelixis by 37.6% during the 2nd quarter. Rhumbline Advisers now owns 329,053 shares of the biotechnology company’s stock worth $8,105,000 after buying an additional 89,945 shares in the last quarter. Finally, Dupont Capital Management Corp acquired a new stake in Exelixis during the 2nd quarter worth approximately $718,000. Hedge funds and other institutional investors own 81.15% 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.

Analyst Recommendations for Exelixis (NASDAQ:EXEL)

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