Exelixis (EXEL) Upgraded at ValuEngine

Exelixis (NASDAQ:EXEL) was upgraded by equities researchers at ValuEngine from a “strong sell” rating to a “sell” rating in a report released on Thursday.

Several other equities analysts also recently weighed in on EXEL. BidaskClub downgraded shares of Exelixis from a “buy” rating to a “hold” rating in a research note on Thursday, March 1st. Cann reissued a “buy” rating and issued a $40.00 price target on shares of Exelixis in a research note on Thursday, March 8th. Zacks Investment Research downgraded shares of Exelixis from a “hold” rating to a “sell” rating in a research note on Tuesday, March 13th. TheStreet downgraded shares of Exelixis from a “b” rating to a “c+” rating in a research note on Thursday, March 15th. Finally, William Blair reissued a “buy” rating on shares of Exelixis in a research note on Wednesday, April 11th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $32.80.

Shares of Exelixis opened at $21.03 on Thursday, according to Marketbeat.com. Exelixis has a 52-week low of $18.50 and a 52-week high of $32.50. The stock has a market capitalization of $5.80 billion, a PE ratio of 41.24 and a beta of 2.12.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Wednesday, May 2nd. The biotechnology company reported $0.37 earnings per share (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 business had revenue of $212.35 million for the quarter, compared to analyst estimates of $146.39 million. sell-side analysts forecast that Exelixis will post 0.85 EPS for the current year.

In other Exelixis news, Director Vincent T. Marchesi sold 15,000 shares of Exelixis stock in a transaction dated Friday, May 11th. The shares were sold at an average price of $19.03, for a total transaction of $285,450.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO Gisela Schwab sold 22,500 shares of Exelixis stock in a transaction dated Thursday, May 3rd. The stock was sold at an average price of $23.09, for a total transaction of $519,525.00. The disclosure for this sale can be found here. Insiders have sold 588,023 shares of company stock worth $12,255,688 over the last ninety days. 4.80% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. raised its stake in shares of Exelixis by 109.4% in the 1st quarter. JPMorgan Chase & Co. now owns 5,035,494 shares of the biotechnology company’s stock valued at $111,537,000 after acquiring an additional 2,630,991 shares during the period. Wells Fargo & Company MN raised its stake in shares of Exelixis by 24.2% in 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 acquiring an additional 743,225 shares during the period. Old Mutual Global Investors UK Ltd. raised its stake in shares of Exelixis by 26.6% in 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 acquiring an additional 747,398 shares during the period. Macquarie Group Ltd. raised its stake in shares of Exelixis by 20.1% in the 4th quarter. Macquarie Group Ltd. now owns 1,533,419 shares of the biotechnology company’s stock valued at $46,616,000 after acquiring an additional 256,966 shares during the period. Finally, OppenheimerFunds Inc. raised its stake in shares of Exelixis by 11.7% in the 1st quarter. OppenheimerFunds Inc. now owns 1,470,543 shares of the biotechnology company’s stock valued at $32,573,000 after acquiring an additional 153,798 shares during the period. 77.81% of the stock is currently owned by institutional investors.

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.

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Analyst Recommendations for Exelixis (NASDAQ:EXEL)

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