Exelixis (NASDAQ:EXEL) Upgraded by The Goldman Sachs Group to Strong Sell

Exelixis (NASDAQ:EXEL) was upgraded by analysts at The Goldman Sachs Group to a “strong sell” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

A number of other analysts have also recently commented on EXEL. Stifel Nicolaus lifted their target price on Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday. JMP Securities reiterated a “market outperform” rating and set a $29.00 target price on shares of Exelixis in a research report on Friday, October 11th. HC Wainwright reissued a “buy” rating and set a $29.00 price target on shares of Exelixis in a report on Wednesday, September 18th. Morgan Stanley raised their price target on Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. Finally, Bank of America raised their price target on Exelixis from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Exelixis has an average rating of “Moderate Buy” and a consensus price target of $29.07.

Exelixis Stock Performance

EXEL opened at $29.06 on Tuesday. The business’s 50-day simple moving average is $26.39 and its 200-day simple moving average is $23.79. Exelixis has a one year low of $18.64 and a one year high of $29.75. The stock has a market capitalization of $8.81 billion, a P/E ratio of 45.41, a price-to-earnings-growth ratio of 0.54 and a beta of 0.54.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.44. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. The business had revenue of $637.18 million for the quarter, compared to analysts’ expectations of $468.21 million. On average, equities research analysts forecast that Exelixis will post 1.59 EPS for the current fiscal year.

Insider Buying and Selling at Exelixis

In other Exelixis news, Director Maria C. Freire sold 8,250 shares of Exelixis stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $26.56, for a total value of $219,120.00. Following the sale, the director now owns 91,007 shares of the company’s stock, valued at approximately $2,417,145.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Dana Aftab sold 95,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total transaction of $2,375,000.00. Following the sale, the executive vice president now owns 520,990 shares of the company’s stock, valued at $13,024,750. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Maria C. Freire sold 8,250 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $26.56, for a total value of $219,120.00. Following the sale, the director now directly owns 91,007 shares in the company, valued at $2,417,145.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 327,858 shares of company stock valued at $8,640,129. 2.85% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Exelixis

Several institutional investors have recently modified their holdings of EXEL. LSV Asset Management raised its position in shares of Exelixis by 1,651.4% during the 1st quarter. LSV Asset Management now owns 2,774,707 shares of the biotechnology company’s stock worth $65,844,000 after purchasing an additional 2,616,278 shares during the last quarter. Hsbc Holdings PLC lifted its stake in Exelixis by 45.3% in the 2nd quarter. Hsbc Holdings PLC now owns 90,211 shares of the biotechnology company’s stock valued at $2,031,000 after buying an additional 28,126 shares in the last quarter. Farallon Capital Management LLC lifted its stake in Exelixis by 1.6% in the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock valued at $608,993,000 after buying an additional 424,000 shares in the last quarter. Intech Investment Management LLC lifted its stake in Exelixis by 155.8% in the 1st quarter. Intech Investment Management LLC now owns 100,039 shares of the biotechnology company’s stock valued at $2,374,000 after buying an additional 60,925 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Exelixis in the 1st quarter valued at approximately $1,281,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Exelixis Company Profile

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers 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 progressive and metastatic medullary thyroid cancer.