Exelixis (NASDAQ:EXEL) Price Target Lowered to $19.00 at BMO Capital Markets

Exelixis (NASDAQ:EXEL) had its price target reduced by BMO Capital Markets from $23.00 to $19.00 in a report issued on Tuesday, The Fly reports. They currently have a market perform rating on the biotechnology company’s stock.

EXEL has been the topic of a number of other research reports. BidaskClub cut shares of Exelixis from a hold rating to a sell rating in a report on Wednesday, August 28th. Stifel Nicolaus boosted their target price on shares of Exelixis from $22.00 to $23.00 and gave the company a hold rating in a report on Thursday, August 1st. Cowen set a $25.00 target price on shares of Exelixis and gave the company a buy rating in a report on Wednesday, July 31st. ValuEngine cut shares of Exelixis from a sell rating to a strong sell rating in a report on Monday, September 16th. Finally, Zacks Investment Research cut shares of Exelixis from a hold rating to a sell rating and set a $19.00 target price on the stock. in a report on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Exelixis currently has an average rating of Hold and a consensus price target of $27.43.

NASDAQ:EXEL opened at $16.52 on Tuesday. The company has a current ratio of 8.64, a quick ratio of 8.53 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $5.00 billion, a PE ratio of 11.55 and a beta of 1.81. The firm’s 50 day moving average is $19.16 and its 200 day moving average is $20.63. Exelixis has a 12 month low of $13.42 and a 12 month high of $25.31.



Exelixis (NASDAQ:EXEL) last issued its earnings results on Wednesday, July 31st. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Exelixis had a net margin of 70.52% and a return on equity of 31.31%. The business had revenue of $240.28 million for the quarter, compared to analysts’ expectations of $226.97 million. During the same quarter in the previous year, the firm posted $0.31 EPS. The business’s revenue for the quarter was up 29.1% compared to the same quarter last year. Research analysts predict that Exelixis will post 0.92 earnings per share for the current year.

In other news, CMO Gisela Schwab sold 30,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $17.87, for a total value of $536,100.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael Morrissey sold 34,721 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $21.37, for a total transaction of $741,987.77. The disclosure for this sale can be found here. Insiders have sold a total of 385,392 shares of company stock worth $7,742,979 in the last three months. Insiders own 4.50% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. U S Global Investors Inc. increased its holdings in shares of Exelixis by 139.1% in the second quarter. U S Global Investors Inc. now owns 53,359 shares of the biotechnology company’s stock worth $1,140,000 after purchasing an additional 31,047 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Exelixis by 390.8% in the second quarter. Janus Henderson Group PLC now owns 159,966 shares of the biotechnology company’s stock worth $3,418,000 after purchasing an additional 127,372 shares during the period. First Mercantile Trust Co. increased its holdings in shares of Exelixis by 10.9% in the second quarter. First Mercantile Trust Co. now owns 6,386 shares of the biotechnology company’s stock worth $136,000 after purchasing an additional 627 shares during the period. First Trust Advisors LP increased its holdings in shares of Exelixis by 8.0% in the second quarter. First Trust Advisors LP now owns 5,865,637 shares of the biotechnology company’s stock worth $125,349,000 after purchasing an additional 433,202 shares during the period. Finally, Man Group plc increased its holdings in shares of Exelixis by 194.8% in the second quarter. Man Group plc now owns 156,599 shares of the biotechnology company’s stock worth $3,346,000 after purchasing an additional 103,477 shares during the period. 77.39% of the stock is currently owned by hedge funds and other institutional investors.

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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