Exelixis (NASDAQ:EXEL) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Friday.
Several other research analysts have also weighed in on the stock. Cann reaffirmed a “hold” rating on shares of Exelixis in a research note on Thursday. Oppenheimer reaffirmed a “hold” rating on shares of Exelixis in a research note on Thursday. Zacks Investment Research raised shares of Exelixis from a “hold” rating to a “strong-buy” rating and set a $35.00 target price for the company in a research note on Tuesday. SunTrust Banks reaffirmed a “buy” rating and set a $38.00 target price on shares of Exelixis in a research note on Thursday, December 21st. 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 given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $32.13.
Shares of Exelixis (NASDAQ EXEL) opened at $31.89 on Friday. Exelixis has a 1-year low of $14.90 and a 1-year high of $32.50. The stock has a market cap of $9,393.34, a PE ratio of 65.08, a P/E/G ratio of 0.95 and a beta of 1.88.
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 Zacks’ consensus estimate of $0.08 by $0.18. The firm had revenue of $152.50 million during the quarter, compared to analyst estimates of $104.91 million. Exelixis had a net margin of 36.80% and a return on equity of 105.47%. Exelixis’s quarterly revenue was up 145.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.04) earnings per share. analysts anticipate that Exelixis will post 0.49 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of EXEL. Vanguard Group Inc. boosted its stake in shares of Exelixis by 7.2% in the second quarter. Vanguard Group Inc. now owns 25,441,964 shares of the biotechnology company’s stock valued at $626,635,000 after purchasing an additional 1,706,893 shares during the period. Matrix Capital Management Company LP boosted its stake in shares of Exelixis by 8.8% in the second quarter. Matrix Capital Management Company LP now owns 15,117,460 shares of the biotechnology company’s stock valued at $372,343,000 after purchasing an additional 1,225,000 shares during the period. Janus Henderson Group PLC purchased a new position in shares of Exelixis in the second quarter valued at approximately $28,689,000. Macquarie Group Ltd. boosted its stake in shares of Exelixis by 811.5% in the third quarter. Macquarie Group Ltd. now owns 1,276,453 shares of the biotechnology company’s stock valued at $30,928,000 after purchasing an additional 1,136,409 shares during the period. Finally, First Trust Advisors LP boosted its stake in shares of Exelixis by 588.9% in the third quarter. First Trust Advisors LP now owns 1,086,135 shares of the biotechnology company’s stock valued at $26,317,000 after purchasing an additional 928,475 shares during the period. 81.15% of the stock is owned by institutional investors and hedge funds.
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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.
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