Trade Report: The Exelixis Inc. (EXEL) Given Average Recommendation of “Buy” from Analysts

The Exelixis Inc. (EXEL) Given Average Recommendation of “Buy” from Analysts

Shares of Exelixis Inc. (NASDAQ:EXEL) have been assigned an average rating of “Buy” from the seven ratings firms that are covering the firm. Six analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $14.89.

EXEL has been the topic of several research analyst reports. William Blair reissued an “outperform” rating on shares of Exelixis in a research note on Thursday, September 15th. Cowen and Company reissued an “outperform” rating on shares of Exelixis in a research note on Wednesday, October 12th. Leerink Swann reissued an “outperform” rating and set a $12.00 target price (up from $10.00) on shares of Exelixis in a research note on Thursday, August 4th. Piper Jaffray Cos. raised shares of Exelixis from a “neutral” rating to an “overweight” rating in a research note on Monday, October 10th. Finally, Stifel Nicolaus increased their target price on shares of Exelixis from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, September 15th.

In other Exelixis news, insider Gisela Schwab sold 42,338 shares of the firm’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $11.00, for a total value of $465,718.00. Following the transaction, the insider now directly owns 174,354 shares of the company’s stock, valued at $1,917,894. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.90% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Aperio Group LLC raised its position in Exelixis by 4.1% in the first quarter. Aperio Group LLC now owns 87,515 shares of the biotechnology company’s stock worth $350,000 after buying an additional 3,410 shares during the period. Pacad Investment Ltd. acquired a new position in Exelixis during the first quarter worth $406,000. BlackRock Group LTD raised its position in Exelixis by 12.4% in the first quarter. BlackRock Group LTD now owns 242,999 shares of the biotechnology company’s stock worth $972,000 after buying an additional 26,863 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Exelixis by 2.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 5,329,318 shares of the biotechnology company’s stock worth $21,317,000 after buying an additional 127,342 shares during the period. Finally, ING Groep NV acquired a new position in Exelixis during the first quarter worth $359,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis (NASDAQ:EXEL) opened at 11.51 on Thursday. The stock’s 50 day moving average is $12.76 and its 200 day moving average is $8.61. The firm’s market capitalization is $2.65 billion. Exelixis has a 1-year low of $3.55 and a 1-year high of $15.58.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Wednesday, August 3rd. The biotechnology company reported ($0.16) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.11. The firm earned $36.25 million during the quarter, compared to the consensus estimate of $16.76 million. During the same period in the prior year, the company posted ($0.22) earnings per share. The company’s revenue for the quarter was up 353.7% compared to the same quarter last year. Analysts predict that Exelixis will post ($0.61) EPS for the current fiscal year.

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