Exelixis (EXEL) Downgraded by BidaskClub to “Hold”

BidaskClub lowered shares of Exelixis (NASDAQ:EXEL) from a buy rating to a hold rating in a research report report published on Tuesday morning, BidAskClub reports.

Several other equities analysts also recently commented on the company. Oppenheimer reaffirmed a buy rating on shares of Exelixis in a research report on Tuesday, March 19th. Morgan Stanley raised Exelixis from an underweight rating to an equal weight rating and set a $24.80 price objective on the stock in a research report on Monday, March 18th. ValuEngine raised Exelixis from a sell rating to a hold rating in a research report on Wednesday, March 6th. Zacks Investment Research raised Exelixis from a strong sell rating to a hold rating in a research report on Monday, March 4th. Finally, Piper Jaffray Companies reaffirmed an overweight rating and issued a $48.00 price objective on shares of Exelixis in a research report on Friday, March 1st. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $29.88.

NASDAQ EXEL opened at $22.85 on Tuesday. The company has a market cap of $6.93 billion, a PE ratio of 15.98, a P/E/G ratio of 0.46 and a beta of 2.21. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.41 and a current ratio of 8.50. Exelixis has a fifty-two week low of $13.42 and a fifty-two week high of $25.31.

Exelixis (NASDAQ:EXEL) last released its earnings results 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. The firm had revenue of $228.60 million for the quarter, compared to the consensus estimate of $188.44 million. Exelixis had a return on equity of 48.90% and a net margin of 80.95%. The company’s revenue for the quarter was up 90.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 EPS. On average, equities analysts expect that Exelixis will post 1.08 earnings per share for the current year.

In other Exelixis news, insider Patrick J. Haley sold 2,000 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $25.00, for a total value of $50,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Morrissey sold 40,000 shares of the company’s stock in a transaction on Wednesday, January 30th. The stock was sold at an average price of $23.12, for a total value of $924,800.00. The disclosure for this sale can be found here. Insiders sold a total of 1,004,101 shares of company stock valued at $22,946,624 over the last quarter. Company insiders own 4.80% of the company’s stock.

Several hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. lifted its stake in shares of Exelixis by 14.5% during the 1st quarter. Meeder Asset Management Inc. now owns 24,514 shares of the biotechnology company’s stock worth $583,000 after purchasing an additional 3,106 shares during the last quarter. Toth Financial Advisory Corp purchased a new stake in shares of Exelixis during the 1st quarter worth $508,000. Retirement Systems of Alabama lifted its stake in shares of Exelixis by 0.8% during the 1st quarter. Retirement Systems of Alabama now owns 390,696 shares of the biotechnology company’s stock worth $9,299,000 after purchasing an additional 3,231 shares during the last quarter. Tealwood Asset Management Inc. lifted its stake in shares of Exelixis by 9.4% during the 1st quarter. Tealwood Asset Management Inc. now owns 139,847 shares of the biotechnology company’s stock worth $3,328,000 after purchasing an additional 12,009 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in shares of Exelixis by 1.4% during the 1st quarter. Louisiana State Employees Retirement System now owns 80,400 shares of the biotechnology company’s stock worth $1,914,000 after purchasing an additional 1,100 shares during the last quarter. Institutional investors and hedge funds own 75.95% of the company’s stock.

About Exelixis

Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. 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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