BidaskClub lowered shares of Exelixis (NASDAQ:EXEL) from a sell rating to a strong sell rating in a research report sent to investors on Saturday morning.

Other research analysts have also recently issued reports about the stock. Needham & Company LLC decreased their price objective on shares of Exelixis from $33.00 to $30.00 and set a buy rating on the stock in a research note on Friday, May 11th. Cann reissued a buy rating and issued a $40.00 price objective on shares of Exelixis in a research note on Wednesday, May 30th. ValuEngine raised shares of Exelixis from a sell rating to a hold rating in a research note on Saturday, June 2nd. Zacks Investment Research cut shares of Exelixis from a strong-buy rating to a hold rating in a research note on Tuesday, May 15th. Finally, Stifel Nicolaus decreased their target price on shares of Exelixis from $30.00 to $29.00 and set a hold rating on the stock in a research note on Thursday, May 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $32.67.

Exelixis traded down $0.30, reaching $20.40, during mid-day trading on Friday, MarketBeat Ratings reports. The stock had a trading volume of 1,844,128 shares, compared to its average volume of 3,336,554. The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of 40.00 and a beta of 2.02. Exelixis has a 12 month low of $18.50 and a 12 month high of $32.50.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Wednesday, August 1st. The biotechnology company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.12. The business had revenue of $186.10 million for the quarter, compared to analysts’ expectations of $157.37 million. Exelixis had a net margin of 48.17% and a return on equity of 65.68%. The firm’s quarterly revenue was up 88.0% compared to the same quarter last year. During the same period last year, the firm posted $0.06 earnings per share. sell-side analysts predict that Exelixis will post 1.03 EPS for the current fiscal year.

In other Exelixis news, CEO Michael Morrissey sold 100,000 shares of the business’s stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $21.10, for a total transaction of $2,110,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jeffrey Hessekiel sold 65,000 shares of the business’s stock in a transaction on Thursday, May 31st. The stock was sold at an average price of $20.71, for a total transaction of $1,346,150.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 827,053 shares of company stock worth $17,214,074. Insiders own 4.80% of the company’s stock.

Several large investors have recently modified their holdings of EXEL. James Investment Research Inc. acquired a new position in Exelixis in the second quarter valued at $133,000. TLP Group LLC acquired a new position in Exelixis in the first quarter valued at $179,000. Massachusetts Financial Services Co. MA acquired a new position in Exelixis in the first quarter valued at $215,000. Washington Trust Bank acquired a new position in Exelixis in the second quarter valued at $213,000. Finally, Meeder Asset Management Inc. lifted its holdings in Exelixis by 83.4% in the first quarter. Meeder Asset Management Inc. now owns 9,887 shares of the biotechnology company’s stock valued at $218,000 after buying an additional 4,495 shares during the period. Institutional investors own 77.67% of the company’s stock.

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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Analyst Recommendations for Exelixis (NASDAQ:EXEL)

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