Exelixis (EXEL) Upgraded by BidaskClub to Hold

BidaskClub upgraded shares of Exelixis (NASDAQ:EXEL) from a sell rating to a hold rating in a report issued on Saturday morning.

EXEL has been the subject of a number of other reports. Morgan Stanley initiated coverage on shares of Exelixis in a research report on Monday, September 10th. They set an underweight rating and a $19.00 price target for the company. Goldman Sachs Group began coverage on shares of Exelixis in a research report on Monday, September 17th. They set a neutral rating and a $22.00 price target for the company. Piper Jaffray Companies cut their target price on shares of Exelixis from $29.00 to $26.00 and set an overweight rating for the company in a research report on Monday, November 5th. Oppenheimer set a $40.00 target price on shares of Exelixis and gave the stock a buy rating in a research report on Thursday, November 15th. Finally, ValuEngine upgraded shares of Exelixis from a strong sell rating to a sell rating in a research report on Saturday. Two analysts have rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $29.44.

EXEL opened at $20.56 on Friday. The firm has a market cap of $6.07 billion, a PE ratio of 40.31, a PEG ratio of 1.20 and a beta of 2.32. The company has a quick ratio of 8.54, a current ratio of 8.66 and a debt-to-equity ratio of 0.01. Exelixis has a one year low of $13.42 and a one year high of $32.20.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Thursday, November 1st. The biotechnology company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.22. The firm had revenue of $225.40 million during the quarter, compared to analyst estimates of $174.14 million. Exelixis had a net margin of 49.53% and a return on equity of 55.71%. The business’s revenue for the quarter was up 47.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.26 EPS. Sell-side analysts forecast that Exelixis will post 1.3 EPS for the current fiscal year.

In related news, CMO Gisela Schwab sold 12,000 shares of the company’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $14.16, for a total value of $169,920.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George A. Scangos sold 25,000 shares of the business’s stock in a transaction on Monday, September 24th. The stock was sold at an average price of $16.85, for a total transaction of $421,250.00. Following the completion of the sale, the director now directly owns 1,561,981 shares of the company’s stock, valued at $26,319,379.85. The disclosure for this sale can be found here. Insiders sold 289,367 shares of company stock valued at $5,219,346 over the last quarter. 4.80% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Polaris Greystone Financial Group LLC bought a new stake in Exelixis in the third quarter worth $177,000. Fox Run Management L.L.C. bought a new stake in Exelixis in the third quarter worth $183,000. Advisors Asset Management Inc. lifted its stake in Exelixis by 94.7% in the second quarter. Advisors Asset Management Inc. now owns 41,168 shares of the biotechnology company’s stock worth $213,000 after purchasing an additional 20,025 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Exelixis in the second quarter worth $217,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Exelixis in the third quarter worth $222,000. 77.24% of the stock is owned by institutional investors and hedge funds.

About Exelixis

Exelixis, Inc, a biotechnology company, engages in the discovery, development, and commercialization of new medicines to enhance care and outcomes for people with cancer. The company's products include CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of patients with progressive and metastatic medullary thyroid cancer.

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