Exelixis (EXEL) Cut to “Strong Sell” at ValuEngine

Share on StockTwits

ValuEngine lowered shares of Exelixis (NASDAQ:EXEL) from a sell rating to a strong sell rating in a research note published on Friday.

Several other research analysts have also commented on the company. Cann reiterated a buy rating and issued a $40.00 target price on shares of Exelixis in a research report on Wednesday, May 30th. BidaskClub lowered Exelixis from a buy rating to a hold rating in a research report on Thursday, March 1st. William Blair reiterated a buy rating on shares of Exelixis in a research report on Wednesday, April 11th. Oppenheimer upgraded Exelixis from a market perform rating to an outperform rating and set a $40.00 target price for the company in a research report on Tuesday, February 27th. Finally, Stifel Nicolaus decreased their target price on Exelixis from $30.00 to $29.00 and set a hold rating for the company in a research report on Thursday, May 3rd. Two 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’s stock. Exelixis currently has a consensus rating of Hold and an average target price of $32.80.

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

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

In related news, Director Vincent T. Marchesi sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $19.03, for a total transaction of $285,450.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Morrissey sold 90,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 11th. The shares were sold at an average price of $20.78, for a total value of $1,870,200.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 498,023 shares of company stock valued at $10,489,888. Insiders own 4.80% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in EXEL. JPMorgan Chase & Co. boosted its position in Exelixis by 109.4% during the 1st quarter. JPMorgan Chase & Co. now owns 5,035,494 shares of the biotechnology company’s stock valued at $111,537,000 after purchasing an additional 2,630,991 shares during the period. Smith Asset Management Group LP acquired a new position in Exelixis during the 4th quarter valued at approximately $26,323,000. Old Mutual Global Investors UK Ltd. boosted its position in Exelixis by 26.6% during the 1st quarter. Old Mutual Global Investors UK Ltd. now owns 3,562,369 shares of the biotechnology company’s stock valued at $78,906,000 after purchasing an additional 747,398 shares during the period. Wells Fargo & Company MN boosted its position in Exelixis by 24.2% during the 1st quarter. Wells Fargo & Company MN now owns 3,818,088 shares of the biotechnology company’s stock valued at $84,571,000 after purchasing an additional 743,225 shares during the period. Finally, Neuberger Berman Group LLC boosted its position in Exelixis by 1,217.2% during the 1st quarter. Neuberger Berman Group LLC now owns 713,359 shares of the biotechnology company’s stock valued at $15,811,000 after purchasing an additional 659,201 shares during the period. Institutional investors and hedge funds own 77.81% of the company’s stock.

About Exelixis

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Exelixis (NASDAQ:EXEL)

Receive News & Ratings for Exelixis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exelixis and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply