Exelixis (NASDAQ:EXEL) Given a $25.00 Price Target at Cowen

Cowen set a $25.00 price target on Exelixis (NASDAQ:EXEL) in a research report report published on Monday, TipRanks reports. The firm currently has a buy rating on the biotechnology company’s stock.

EXEL has been the topic of several other reports. Zacks Investment Research downgraded Great Portland Estates from a hold rating to a sell rating in a research report on Tuesday, April 16th. Oppenheimer set a $13.00 price objective on Alpine Immune Sciences and gave the company a buy rating in a research report on Tuesday, March 19th. ValuEngine downgraded Intersect ENT from a buy rating to a hold rating in a research report on Monday, July 8th. Morgan Stanley upped their price objective on Zynga and gave the company an overweight rating in a research report on Thursday, May 2nd. Finally, BidaskClub downgraded Vertex Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Exelixis currently has an average rating of Hold and an average price target of $28.38.

EXEL traded up $0.23 during trading on Monday, reaching $21.71. 1,663,015 shares of the stock were exchanged, compared to its average volume of 2,322,225. The stock’s 50 day moving average price is $20.66. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.56 and a quick ratio of 7.48. The firm has a market capitalization of $6.44 billion, a P/E ratio of 15.18, a price-to-earnings-growth ratio of 0.50 and a beta of 1.93. Exelixis has a 1 year low of $13.42 and a 1 year high of $25.31.



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

In other news, CEO Michael Morrissey sold 34,721 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $21.03, for a total value of $730,182.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George A. Scangos sold 40,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $21.58, for a total value of $863,200.00. Following the completion of the sale, the director now owns 1,168,031 shares of the company’s stock, valued at approximately $25,206,108.98. The disclosure for this sale can be found here. Insiders have sold 570,982 shares of company stock worth $11,712,152 over the last quarter. 4.50% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its position in Exelixis by 1.0% in the 1st quarter. BlackRock Inc. now owns 30,875,633 shares of the biotechnology company’s stock valued at $734,839,000 after acquiring an additional 290,882 shares during the period. AQR Capital Management LLC boosted its position in shares of Exelixis by 46.4% in the first quarter. AQR Capital Management LLC now owns 15,852,556 shares of the biotechnology company’s stock worth $377,291,000 after buying an additional 5,021,444 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Exelixis by 10.1% in the first quarter. JPMorgan Chase & Co. now owns 9,938,985 shares of the biotechnology company’s stock worth $236,548,000 after buying an additional 910,147 shares during the period. Wells Fargo & Company MN boosted its position in shares of Exelixis by 320.7% in the first quarter. Wells Fargo & Company MN now owns 3,204,443 shares of the biotechnology company’s stock worth $76,266,000 after buying an additional 2,442,773 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Exelixis by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 3,009,454 shares of the biotechnology company’s stock worth $59,195,000 after buying an additional 210,181 shares during the period. Hedge funds and other institutional investors own 78.22% 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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