Exelixis (EXEL) Rating Increased to Sell at BidaskClub

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Exelixis (NASDAQ:EXEL) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Friday.

Several other equities analysts have also recently commented on EXEL. UBS Group raised shares of Exelixis from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 27th. Cann raised shares of Exelixis from a “market perform” rating to an “outperform” rating and set a $40.00 price target for the company in a research report on Tuesday, February 27th. They noted that the move was a valuation call. Oppenheimer raised shares of Exelixis from a “market perform” rating to an “outperform” rating and set a $40.00 price objective for the company in a research report on Tuesday, February 27th. Stifel Nicolaus lifted their price objective on shares of Exelixis from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Tuesday, February 27th. Finally, ValuEngine cut shares of Exelixis from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $32.80.

Shares of Exelixis opened at $20.04 on Friday, MarketBeat Ratings reports. Exelixis has a 52 week low of $18.50 and a 52 week high of $32.50. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 39.29 and a beta of 2.12.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Wednesday, May 2nd. The biotechnology company reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.21. Exelixis had a net margin of 43.39% and a return on equity of 77.39%. The company had revenue of $212.35 million during the quarter, compared to analysts’ expectations of $146.39 million. equities research analysts forecast that Exelixis will post 0.85 earnings per share for the current fiscal year.

In related news, Director Alan M. Garber sold 15,000 shares of the business’s stock in a transaction on Monday, April 16th. The shares were sold at an average price of $20.25, for a total value of $303,750.00. Following the completion of the sale, the director now directly owns 76,329 shares of the company’s stock, valued at $1,545,662.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michael Morrissey sold 90,000 shares of the business’s stock in a transaction on Wednesday, April 11th. The shares were sold at an average price of $20.78, for a total transaction of $1,870,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 498,023 shares of company stock valued at $10,489,888. Corporate insiders own 4.80% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. MANA Advisors LLC purchased a new stake in Exelixis in the fourth quarter valued at $1,287,000. OppenheimerFunds Inc. lifted its position in Exelixis by 17.8% in the fourth quarter. OppenheimerFunds Inc. now owns 1,316,745 shares of the biotechnology company’s stock valued at $40,029,000 after acquiring an additional 199,435 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new stake in Exelixis in the fourth quarter valued at $17,480,000. Paloma Partners Management Co purchased a new stake in Exelixis in the fourth quarter valued at $330,000. Finally, Globeflex Capital L P purchased a new stake in Exelixis in the fourth quarter valued at $246,000. 77.81% of the stock is 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.

Analyst Recommendations for Exelixis (NASDAQ:EXEL)

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