Exelixis (EXEL) PT Lowered to $31.00 at Oppenheimer

Exelixis (NASDAQ:EXEL) had its price target decreased by research analysts at Oppenheimer from $40.00 to $31.00 in a research note issued on Wednesday, The Fly reports. The brokerage currently has an “outperform” rating on the biotechnology company’s stock. Oppenheimer’s price objective points to a potential upside of 40.59% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. TheStreet raised Exelixis from a “c+” rating to a “b-” rating in a report on Monday, December 17th. BidaskClub raised Exelixis from a “hold” rating to a “buy” rating in a report on Wednesday, January 9th. Zacks Investment Research downgraded Exelixis from a “buy” rating to a “hold” rating in a report on Monday. ValuEngine raised Exelixis from a “sell” rating to a “hold” rating in a report on Wednesday, January 9th. Finally, Piper Jaffray Companies cut their target price on Exelixis from $29.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, November 5th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $27.25.

Shares of NASDAQ EXEL traded up $0.37 during mid-day trading on Wednesday, hitting $22.05. 10,174,667 shares of the stock traded hands, compared to its average volume of 4,545,358. 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 twelve month low of $13.42 and a twelve month high of $30.24. The company has a market cap of $6.44 billion, a price-to-earnings ratio of 43.24, a price-to-earnings-growth ratio of 1.34 and a beta of 2.21.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, February 12th. The biotechnology company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.14. Exelixis had a return on equity of 55.71% and a net margin of 49.53%. The company had revenue of $228.60 million for the quarter, compared to the consensus estimate of $188.44 million. During the same quarter last year, the business posted $0.12 EPS. Exelixis’s revenue for the quarter was up 90.4% on a year-over-year basis. On average, research analysts anticipate that Exelixis will post 1.3 earnings per share for the current fiscal year.

In other Exelixis news, EVP Jeffrey Hessekiel sold 11,759 shares of Exelixis stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $19.12, for a total transaction of $224,832.08. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michael Morrissey sold 25,000 shares of Exelixis stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $17.22, for a total value of $430,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 361,807 shares of company stock worth $7,657,432 over the last ninety days. Company insiders own 4.80% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in EXEL. FTB Advisors Inc. raised its position in shares of Exelixis by 312.0% in the 4th quarter. FTB Advisors Inc. now owns 1,545 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 1,170 shares in the last quarter. JOYN Advisors Inc. raised its position in shares of Exelixis by 334.2% in the 4th quarter. JOYN Advisors Inc. now owns 1,524 shares of the biotechnology company’s stock worth $30,000 after acquiring an additional 1,173 shares in the last quarter. Cornerstone Advisors Inc. bought a new position in shares of Exelixis in the 4th quarter worth about $38,000. Financial Gravity Companies Inc. bought a new position in shares of Exelixis in the 4th quarter worth about $50,000. Finally, Laurel Wealth Advisors LLC bought a new position in shares of Exelixis in the 4th quarter worth about $59,000. 78.28% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Company Profile

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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Analyst Recommendations for Exelixis (NASDAQ:EXEL)

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