Investors Buy Shares of Exelixis (EXEL) on Weakness

Investors bought shares of Exelixis, Inc. (NASDAQ:EXEL) on weakness during trading hours on Friday. $23.39 million flowed into the stock on the tick-up and $11.21 million flowed out of the stock on the tick-down, for a money net flow of $12.18 million into the stock. Of all stocks tracked, Exelixis had the 30th highest net in-flow for the day. Exelixis traded down ($0.53) for the day and closed at $30.40

EXEL has been the topic of a number of research analyst reports. SunTrust Banks reissued a “buy” rating and set a $38.00 price objective on shares of Exelixis in a report on Thursday, December 21st. Zacks Investment Research raised shares of Exelixis from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Tuesday, October 10th. Needham & Company LLC raised their price objective on shares of Exelixis from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, October 17th. Oppenheimer reissued a “hold” rating on shares of Exelixis in a report on Monday, October 16th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $29.00 price objective on shares of Exelixis in a report on Sunday, September 10th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $31.75.

The company has a market capitalization of $9,115.24, a price-to-earnings ratio of 62.04, a P/E/G ratio of 1.38 and a beta of 1.89.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Wednesday, November 1st. The biotechnology company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.18. The business had revenue of $152.50 million for the quarter, compared to analysts’ expectations of $104.91 million. Exelixis had a net margin of 36.80% and a return on equity of 105.47%. The company’s quarterly revenue was up 145.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.04) EPS. equities research analysts anticipate that Exelixis, Inc. will post 0.49 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Exelixis in the 3rd quarter valued at $120,000. Fisher Asset Management LLC acquired a new position in Exelixis in the 3rd quarter valued at $213,000. Caxton Associates LP acquired a new position in Exelixis in the 2nd quarter valued at $227,000. Private Advisor Group LLC acquired a new position in Exelixis in the 2nd quarter valued at $247,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in Exelixis in the 3rd quarter valued at $236,000. 81.15% of the stock is currently owned by institutional investors and hedge funds.

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About Exelixis

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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