Exelixis (NASDAQ:EXEL) Upgraded to Buy by BidaskClub

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Exelixis (NASDAQ:EXEL) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Saturday, BidAskClub reports.

A number of other brokerages have also recently issued reports on EXEL. Bank of America restated a “buy” rating and set a $21.00 target price (down previously from $22.00) on shares of Exelixis in a report on Monday, January 13th. TheStreet cut Exelixis from a “b-” rating to a “c” rating in a report on Friday, November 22nd. Zacks Investment Research cut Exelixis from a “buy” rating to a “hold” rating and set a $20.00 target price on the stock. in a report on Friday, January 10th. Cowen restated a “buy” rating and set a $23.00 target price on shares of Exelixis in a report on Sunday, January 12th. Finally, Piper Sandler restated a “buy” rating and set a $35.00 target price on shares of Exelixis in a report on Tuesday. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $26.09.

Shares of EXEL opened at $20.77 on Friday. The company has a current ratio of 6.89, a quick ratio of 6.80 and a debt-to-equity ratio of 0.01. Exelixis has a 1 year low of $15.02 and a 1 year high of $25.31. The stock has a market cap of $6.15 billion, a P/E ratio of 10.65, a price-to-earnings-growth ratio of 3.43 and a beta of 1.93. The stock’s 50-day moving average price is $18.54 and its two-hundred day moving average price is $18.28.

In other news, Director George A. Scangos sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $20.14, for a total transaction of $80,560.00. Following the sale, the director now owns 1,034,031 shares of the company’s stock, valued at $20,825,384.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Vincent T. Marchesi sold 61,683 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $20.01, for a total value of $1,234,276.83. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 427,639 shares of company stock worth $7,914,164. 4.50% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its position in shares of Exelixis by 20.9% during the fourth quarter. Renaissance Technologies LLC now owns 17,953,926 shares of the biotechnology company’s stock worth $316,348,000 after purchasing an additional 3,104,330 shares during the period. State Street Corp raised its position in shares of Exelixis by 5.8% during the fourth quarter. State Street Corp now owns 11,061,947 shares of the biotechnology company’s stock worth $194,912,000 after purchasing an additional 611,170 shares during the period. AJO LP raised its position in shares of Exelixis by 86.5% during the fourth quarter. AJO LP now owns 7,636,882 shares of the biotechnology company’s stock worth $134,561,000 after purchasing an additional 3,541,719 shares during the period. Farallon Capital Management LLC raised its position in shares of Exelixis by 328.6% during the fourth quarter. Farallon Capital Management LLC now owns 7,500,000 shares of the biotechnology company’s stock worth $132,150,000 after purchasing an additional 5,750,000 shares during the period. Finally, First Trust Advisors LP raised its position in shares of Exelixis by 9.3% during the fourth quarter. First Trust Advisors LP now owns 4,398,219 shares of the biotechnology company’s stock worth $77,497,000 after purchasing an additional 373,013 shares during the period. 77.01% of the stock is currently owned by 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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Analyst Recommendations for Exelixis (NASDAQ:EXEL)

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