Exelixis (NASDAQ:EXEL) Rating Lowered to Sell at BidaskClub

Exelixis (NASDAQ:EXEL) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Tuesday, BidAskClub reports.

EXEL has been the topic of several other research reports. Morgan Stanley lifted their price objective on Zynga and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Oppenheimer set a $13.00 price objective on Alpine Immune Sciences and gave the stock a “buy” rating in a report on Tuesday, March 19th. Cowen upgraded Twitter from an “underperform” rating to a “market perform” rating in a report on Tuesday, April 23rd. Zacks Investment Research downgraded Great Portland Estates from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Finally, ValuEngine downgraded Intersect ENT from a “buy” rating to a “hold” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $28.88.

NASDAQ EXEL traded down $0.03 during trading hours on Tuesday, reaching $20.91. 1,553,139 shares of the stock traded hands, compared to its average volume of 3,365,877. The firm has a 50 day moving average price of $20.56. Exelixis has a 1 year low of $13.42 and a 1 year high of $25.31. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.48 and a current ratio of 7.56. The firm has a market cap of $6.33 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 0.50 and a beta of 1.93.



Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.24 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.24. The business had revenue of $215.49 million for the quarter, compared to the consensus estimate of $206.06 million. Exelixis had a return on equity of 37.21% and a net margin of 75.97%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the business posted $0.40 earnings per share. On average, equities research analysts expect that Exelixis will post 0.92 earnings per share for the current fiscal year.

In related news, insider Michael Morrissey sold 40,000 shares of the business’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $20.75, for a total transaction of $830,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Christopher J. Senner sold 36,261 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $20.70, for a total value of $750,602.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 569,982 shares of company stock worth $11,691,192. Company insiders own 4.50% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Icon Wealth Partners LLC purchased a new position in Exelixis during the 1st quarter valued at about $27,000. JOYN Advisors Inc. increased its holdings in Exelixis by 334.2% during the 4th quarter. JOYN Advisors Inc. now owns 1,524 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 1,173 shares during the period. Cornerstone Advisors Inc. increased its holdings in Exelixis by 26.5% during the 1st quarter. Cornerstone Advisors Inc. now owns 2,413 shares of the biotechnology company’s stock valued at $57,000 after purchasing an additional 505 shares during the period. Rehmann Capital Advisory Group increased its holdings in Exelixis by 231.3% during the 1st quarter. Rehmann Capital Advisory Group now owns 2,438 shares of the biotechnology company’s stock valued at $58,000 after purchasing an additional 1,702 shares during the period. Finally, FinTrust Capital Advisors LLC increased its holdings in Exelixis by 124.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 2,533 shares of the biotechnology company’s stock valued at $61,000 after purchasing an additional 1,402 shares during the period. Institutional investors own 78.21% of the company’s stock.

About Exelixis

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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