Exelixis (EXEL) Rating Lowered to Strong Sell at BidaskClub

Exelixis (NASDAQ:EXEL) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Saturday.

Several other research firms have also commented on EXEL. Zacks Investment Research upgraded Exelixis from a “hold” rating to a “strong-buy” rating and set a $26.00 price target on the stock in a report on Tuesday, May 8th. ValuEngine lowered Exelixis from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 4th. Piper Jaffray Companies reduced their price target on Exelixis from $33.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, May 10th. Cann reiterated a “buy” rating and set a $40.00 price target on shares of Exelixis in a report on Thursday, May 17th. Finally, Needham & Company LLC reduced their price target on Exelixis from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, May 11th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Exelixis currently has an average rating of “Buy” and an average target price of $32.67.

NASDAQ EXEL opened at $20.40 on Friday. Exelixis has a 52 week low of $18.50 and a 52 week high of $32.50. The firm has a market cap of $6.17 billion, a PE ratio of 40.00 and a beta of 2.02.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Wednesday, August 1st. The biotechnology company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.16 by $0.12. Exelixis had a return on equity of 65.68% and a net margin of 48.17%. The business had revenue of $186.10 million for the quarter, compared to analyst estimates of $157.37 million. During the same quarter in the previous year, the firm earned $0.06 EPS. The company’s quarterly revenue was up 88.0% compared to the same quarter last year. research analysts expect that Exelixis will post 1.03 earnings per share for the current year.

In related news, Director Lance Willsey sold 50,000 shares of the business’s stock in a transaction dated Tuesday, May 22nd. The shares were sold at an average price of $21.40, for a total value of $1,070,000.00. Following the sale, the director now directly owns 418,273 shares in the company, valued at approximately $8,951,042.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Patrick J. Haley sold 2,361 shares of the business’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $20.92, for a total transaction of $49,392.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 827,053 shares of company stock worth $17,214,074. 4.80% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of EXEL. Wells Fargo & Company MN raised its holdings in 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 buying an additional 743,225 shares during the period. Alps Advisors Inc. grew its position in Exelixis by 61.2% in the 1st quarter. Alps Advisors Inc. now owns 33,688 shares of the biotechnology company’s stock valued at $746,000 after acquiring an additional 12,785 shares in the last quarter. Wedbush Securities Inc. acquired a new position in Exelixis in the 1st quarter valued at about $315,000. Traynor Capital Management Inc. grew its position in Exelixis by 87.5% in the 1st quarter. Traynor Capital Management Inc. now owns 19,785 shares of the biotechnology company’s stock valued at $438,000 after acquiring an additional 9,235 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its position in Exelixis by 83.4% in the 1st quarter. Meeder Asset Management Inc. now owns 9,887 shares of the biotechnology company’s stock valued at $218,000 after acquiring an additional 4,495 shares in the last quarter. Hedge funds and other institutional investors own 77.67% 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.

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Analyst Recommendations for Exelixis (NASDAQ:EXEL)

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