Trade Report: Today, Cowen and Company Reaffirms “Outperform” Rating for Exelixis Inc. (EXEL)

Today, Cowen and Company Reaffirms “Outperform” Rating for Exelixis Inc. (EXEL)

Cowen and Company reiterated their outperform rating on shares of Exelixis Inc. (NASDAQ:EXEL) in a research report released on Wednesday.

Other equities research analysts have also issued research reports about the company. Leerink Swann reiterated an outperform rating and issued a $12.00 target price on shares of Exelixis in a research note on Thursday, August 18th. Stifel Nicolaus increased their target price on Exelixis from $10.00 to $12.00 and gave the company a buy rating in a research note on Thursday, August 4th. Zacks Investment Research upgraded Exelixis from a hold rating to a buy rating and set a $14.00 target price for the company in a research note on Tuesday, September 13th. Piper Jaffray Cos. reiterated a neutral rating and issued a $8.00 target price (up previously from $5.00) on shares of Exelixis in a research note on Thursday, August 4th. Finally, William Blair reiterated an outperform rating on shares of Exelixis in a research note on Thursday, September 15th. Six analysts have rated the stock with a buy rating, Exelixis currently has an average rating of Buy and an average price target of $13.51.

Shares of Exelixis (NASDAQ:EXEL) opened at 11.51 on Wednesday. Exelixis has a 52 week low of $3.55 and a 52 week high of $15.58. The firm has a 50-day moving average price of $12.76 and a 200-day moving average price of $8.61. The stock’s market cap is $2.65 billion.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.11. The company earned $36.25 million during the quarter, compared to analyst estimates of $16.76 million. During the same quarter last year, the business posted ($0.22) EPS. Exelixis’s quarterly revenue was up 353.7% compared to the same quarter last year. On average, analysts forecast that Exelixis will post ($0.61) earnings per share for the current fiscal year.

In other Exelixis news, insider Gisela Schwab sold 42,338 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $11.00, for a total transaction of $465,718.00. Following the completion of the sale, the insider now owns 174,354 shares in the company, valued at approximately $1,917,894. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 5.90% of the company’s stock.

Large investors have recently modified their holdings of the stock. Seven Eight Capital LLC purchased a new position in Exelixis during the second quarter worth approximately $105,000. GSA Capital Partners LLP purchased a new position in Exelixis during the second quarter worth approximately $117,000. Acrospire Investment Management LLC increased its position in Exelixis by 444.4% in the second quarter. Acrospire Investment Management LLC now owns 15,253 shares of the biotechnology company’s stock worth $119,000 after buying an additional 12,451 shares in the last quarter. Stifel Financial Corp increased its position in Exelixis by 25.7% in the second quarter. Stifel Financial Corp now owns 17,600 shares of the biotechnology company’s stock worth $138,000 after buying an additional 3,600 shares in the last quarter. Finally, Fox Run Management L.L.C. increased its position in Exelixis by 12.5% in the third quarter. Fox Run Management L.L.C. now owns 11,700 shares of the biotechnology company’s stock worth $150,000 after buying an additional 1,300 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Exelixis Company Profile

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