Exelixis (EXEL) Stock Rating Reaffirmed by Cann
Exelixis (NASDAQ:EXEL)‘s stock had its “buy” rating restated by equities researchers at Cann in a research report issued on Wednesday. They presently have a $40.00 price objective on the biotechnology company’s stock. Cann’s price target suggests a potential upside of 92.96% from the company’s previous close.
The analysts wrote, “We had anticipated a PDUFA date for this sNDA filing in H2 2018; as a result of the January 2019 PDUFA date we are slightly adjusting sales and EPS for 2018. Based on the timing of the PDUFA date, we are slightly delaying our estimated launch for Cabometyx in HCC. As a result we are decreasing our estimated 2018 revenue estimate by 3.5%, to $649.0 million from $672.8 million. We are reducing our estimated EPS in 2018 by 9.6%, to $0.67 from our prior estimate of $0.74. Our outlook for 2019 – 2022 revenue is unchanged.””
Other research analysts also recently issued reports about the stock. William Blair restated a “buy” rating on shares of Exelixis in a research note on Wednesday, April 11th. Needham & Company LLC decreased their target price on shares of Exelixis from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, May 11th. TheStreet downgraded shares of Exelixis from a “b” rating to a “c+” rating in a research note on Thursday, March 15th. Zacks Investment Research upgraded shares of Exelixis from a “sell” rating to a “hold” rating in a research note on Monday, April 30th. Finally, Stifel Nicolaus upped their target price on shares of Exelixis from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $32.80.
Exelixis (NASDAQ:EXEL) last announced its earnings results on Wednesday, May 2nd. The biotechnology company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.21. The business had revenue of $212.35 million during the quarter, compared to the consensus estimate of $146.39 million. Exelixis had a net margin of 43.39% and a return on equity of 77.39%. analysts anticipate that Exelixis will post 0.86 EPS for the current fiscal year.
In other Exelixis news, Director Vincent T. Marchesi sold 15,000 shares of the stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $24.73, for a total transaction of $370,950.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Patrick J. Haley sold 12,549 shares of the stock in a transaction on Friday, May 4th. The shares were sold at an average price of $22.38, for a total transaction of $280,846.62. The disclosure for this sale can be found here. Insiders have sold a total of 391,261 shares of company stock worth $8,340,890 over the last quarter. 4.80% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the business. Sigma Planning Corp acquired a new stake in shares of Exelixis during the fourth quarter worth $208,000. American International Group Inc. acquired a new stake in shares of Exelixis during the fourth quarter worth $208,000. Klingenstein Fields & Co. LLC acquired a new stake in shares of Exelixis during the fourth quarter worth $213,000. Globeflex Capital L P acquired a new stake in shares of Exelixis during the fourth quarter worth $246,000. Finally, TLP Group LLC acquired a new stake in shares of Exelixis during the first quarter worth $179,000. 77.40% of the stock is currently owned by institutional investors.
Exelixis Company Profile
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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