Exelixis’ (EXEL) “Buy” Rating Reiterated at Needham & Company LLC

Exelixis (NASDAQ:EXEL)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Friday, AnalystRatings.com reports. They presently have a $30.00 price objective on the biotechnology company’s stock. Needham & Company LLC’s target price points to a potential upside of 69.11% from the stock’s previous close.

A number of other research analysts also recently issued reports on EXEL. TheStreet downgraded Exelixis from a “b-” rating to a “c” rating in a report on Friday, November 22nd. ValuEngine raised shares of Exelixis from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. BMO Capital Markets cut their target price on shares of Exelixis from $23.00 to $19.00 and set a “market perform” rating for the company in a report on Tuesday, October 8th. Guggenheim cut their target price on shares of Exelixis from $33.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Finally, Piper Jaffray Companies decreased their target price on shares of Exelixis from $45.00 to $35.00 in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $25.40.

EXEL traded up $0.09 during midday trading on Friday, hitting $17.74. 153,193 shares of the company were exchanged, compared to its average volume of 2,676,161. The company’s 50 day simple moving average is $16.59 and its 200 day simple moving average is $19.00. The firm has a market capitalization of $5.35 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 2.32 and a beta of 1.78. Exelixis has a 1-year low of $15.02 and a 1-year high of $25.31. The company has a current ratio of 6.89, a quick ratio of 6.80 and a debt-to-equity ratio of 0.01.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.12. The firm had revenue of $271.70 million for the quarter, compared to the consensus estimate of $228.17 million. Exelixis had a return on equity of 25.55% and a net margin of 64.05%. The company’s revenue was up 20.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.44 earnings per share. On average, equities analysts anticipate that Exelixis will post 0.97 EPS for the current year.

In other Exelixis news, CEO Michael Morrissey sold 26,364 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $17.66, for a total transaction of $465,588.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Gisela Schwab sold 50,000 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $15.99, for a total transaction of $799,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 193,894 shares of company stock worth $3,388,876 in the last quarter. Insiders own 4.50% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC raised its position in shares of Exelixis by 40.7% during the 2nd quarter. Renaissance Technologies LLC now owns 13,454,473 shares of the biotechnology company’s stock worth $287,522,000 after purchasing an additional 3,889,200 shares during the last quarter. State Street Corp increased its position in shares of Exelixis by 2.9% during the third quarter. State Street Corp now owns 10,450,777 shares of the biotechnology company’s stock worth $184,822,000 after purchasing an additional 298,036 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Exelixis by 20.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 6,143,165 shares of the biotechnology company’s stock worth $131,279,000 after purchasing an additional 1,051,976 shares in the last quarter. Orbimed Advisors LLC raised its stake in Exelixis by 39.7% in the 2nd quarter. Orbimed Advisors LLC now owns 3,912,900 shares of the biotechnology company’s stock valued at $83,619,000 after purchasing an additional 1,111,000 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Exelixis by 1.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,781,502 shares of the biotechnology company’s stock valued at $80,810,000 after purchasing an additional 71,830 shares during the last quarter. Institutional investors and hedge funds own 77.05% of the company’s stock.

Exelixis Company Profile

Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. 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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