According to Bloomberg.com, the twelve research firms that currently monitor Exelixis, Inc. (NASDAQ: EXEL) have collectively assigned the company a “Moderate Buy” rating as their consensus recommendation for the stock. This rating was based on research firms’ expectations of the company’s future performance. There has been one recommendation to hold the stock, compared to nine different buy recommendations issued by stock research analysts. The estimated average one-year price assigned to you by brokers who updated their stock coverage in the previous year is $27.70. This estimated price is based on brokers’ coverage of the stock being updated to the previous year.
Recently, several research analysts have produced reports on the stock based on their findings and related to the topic. Piper Sandler gave Exelixis an “overweight” rating in an investigative report released July 26 and authored by Piper Sandler. The results of Piper Sandler’s analysis were shared with the general public. The price target for Exelixis shares remained at $30, but Piper Sandler raised it from $30 to $32.00. Cowen announced on November 2, in a research report published on November 2, that he would reduce the target price of Exelixis stock from $26.00 to $21.00. In a research note published on November 2, Morgan Stanley stated that it lowered its target price for Exelixis shares from $23.00 to $22.00, calling the shares “of equal weight.” This is where you can find the updated target price. On October 18, a Tuesday, JMP Securities became the first brokerage firm to cover Exelixis stock by publishing research notes on the company. They have given the company an “outperform” rating and have determined that their target price should be $26.00. Cowen lowered the price target on Exelixis shares from $26.00 to $21.00 in a research note issued on November 2. This was the most recent news.
On September 12, Executive Vice President Patrick J. Haley sold 40,000 shares of the company. This development is relevant to the discussion because it relates to the topic. In total, $717,600 worth of company stock was sold at an average price of $17.94 per share, resulting in transactions worth $717,600. The executive vice president becomes the direct owner of 261,591 shares of the company, which have a value of $4,692,942.54 as a direct result of the transaction. A copy of the legal document that provides a more detailed description of the sale can be found on the Securities and Exchange Commission’s website. The document in question describes the sale of the asset. The current percentage of the company’s shares held by insiders is 2.90 percent.
During the second quarter of this year, Deutsche Bank AG increased its stake in Exelixis by 439.6%, even though hedge funds have been buying and selling shares in the company recently. Deutsche Bank AG now owns a total of 3,518,722 shares of the biotech company after acquiring an additional 2,866,622 shares during the most recent fiscal quarter. These shares have a total value of $73,260,000 at this time. In addition, a factor of 368.1 percent was added to Prudential Financial Inc.’s holdings in Exelixis during the second quarter of the year. Prudential Financial Inc. now has a total of 2,498,377 shares in its possession, resulting in a total value of $52,015,000 from the company’s stock purchases. This was made possible by the acquisition of an additional 1,965,534 shares in the biotech company. The total value of Los Angeles Capital Management LLC’s stake in Exelixis was approximately $27,393,000 after the company increased its stake in one position during the third quarter. The amount of Exelixis held within Assenagon Asset Management SA’s portfolio increased by 920.3% during the second quarter of the year. Assenagon Asset Management SA now owns 1,872,670 shares of the biotech company’s capital stock, currently valued at $38,989,000 after purchasing an additional 1,689,126 shares during the most recent quarter. This brings the total number of shares owned by the company to 1,872,670.
Last but not least, during the first three months of 2018, Farallon Capital Management LLC increased 18.7% in the number of Exelixis shares it owned. As a result, the investment firm known as Farallon Capital Management LLC now has an ownership stake of 10,520,061 shares of the biotech company. The current market value of these shares is $238,490,000. This objective was met during the last quarter with the purchase of 1,660,904 shares. Currently, the institutions hold ownership rights to 85.25 percent of the company’s share capital.
On Tuesday, the opening price of a stock on the NASDAQ was $16.35 per unit. The company’s market capitalization is currently $5.27 billion; it has a price-earnings ratio of 17.21, an earnings-per-share growth rate of 0.56, and a beta of 0.70. Over the previous fifty-two weeks, the Exelixis price fluctuated between a low of $14.87 and a high of $23.40. The moving average of the last 50 days is $16.63 and the moving average of the last 200 days is $18.99. The company’s current share price trades at these levels.
Tuesday, August 9, was when Exelixis (NASDAQ: EXEL) released its most recent quarterly earnings report to the investment community. The biotech company reported earnings per share (EPS) of $0.22 for the quarter, which was $0.02 higher than the consensus estimate of $0.20 for the quarter among analysts. The company’s return on equity was 13.11 percent, while the net margin it achieved was 18.78 percent. The company’s most recent quarter revenue was $419.43 million, which is substantially higher than the consensus projection of $391.09 million for revenue that quarter. Analysts who follow the market expect Exelixis to generate earnings of $0.59 per share this year.
Exelixis, Inc. is an American oncology company dedicated to researching, developing and commercializing new cancer treatments. The company was founded in the biotech industry and is based in the United States. Patients with advanced renal cell carcinoma who have been treated with antiangiogenic drugs in the past receive CABOMETYX in tablet form. Patients diagnosed with metastatic and/or progressive medullary thyroid cancer are usually prescribed COMETRIQ in capsule form.