Exelixis (NASDAQ:EXEL) Given “Hold” Rating at Cann
“Exelixis announced today an amendment to the protocol for the phase Ib trial of Cabometyx (cabozantinib) in combination with atezolizumab (Tecentriq) in patients with locally advanced or metastatic solid tumors. Exelixis reported the amendment adds four new expansion cohorts to the trial, which will now include patients with non- small cell lung cancer (NSCLC) and castration-resistant prostate cancer (CRPC), in addition to previously included patients with renal cell carcinoma (RCC) and urothelial carcinoma (UC). The primary objective in the expansion stage of this trial remains to determine the objective response rate in each cohort. Exelixis confirmed the original trial protocol included four expansion cohorts, which will remain in the amended study unchanged.”,” Cann’s analyst commented.
Several other analysts have also recently commented on the stock. Oppenheimer reiterated a hold rating on shares of Exelixis in a research note on Thursday, January 4th. Needham & Company LLC lifted their target price on shares of Exelixis from $30.00 to $33.00 and gave the stock a buy rating in a research report on Tuesday, October 17th. Royal Bank of Canada lifted their target price on shares of Exelixis from $33.00 to $39.00 and gave the stock an outperform rating in a research report on Tuesday, October 17th. Stifel Nicolaus reiterated a hold rating and set a $26.00 price target on shares of Exelixis in a report on Tuesday, October 17th. Finally, SunTrust Banks lifted their price target on shares of Exelixis from $32.00 to $35.00 and gave the stock a buy rating in a report on Monday, October 16th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Exelixis has a consensus rating of Buy and an average target price of $32.13.
Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Wednesday, November 1st. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.18. Exelixis had a net margin of 36.80% and a return on equity of 105.47%. The company had revenue of $152.50 million for the quarter, compared to the consensus estimate of $104.91 million. During the same period last year, the firm posted ($0.04) EPS. Exelixis’s revenue for the quarter was up 145.2% on a year-over-year basis. analysts expect that Exelixis will post 0.49 earnings per share for the current year.
In other Exelixis news, Director Alan M. Garber sold 15,000 shares of the business’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $30.30, for a total transaction of $454,500.00. Following the completion of the sale, the director now owns 64,829 shares in the company, valued at $1,964,318.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.10% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp lifted its stake in Exelixis by 24.1% during the third quarter. Mackenzie Financial Corp now owns 10,116 shares of the biotechnology company’s stock valued at $245,000 after buying an additional 1,963 shares in the last quarter. Stifel Financial Corp lifted its stake in Exelixis by 2.8% during the third quarter. Stifel Financial Corp now owns 72,974 shares of the biotechnology company’s stock valued at $1,768,000 after buying an additional 2,009 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Exelixis by 17.7% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 14,128 shares of the biotechnology company’s stock valued at $348,000 after purchasing an additional 2,129 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Exelixis by 8.7% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 26,607 shares of the biotechnology company’s stock valued at $645,000 after purchasing an additional 2,138 shares during the period. Finally, Swiss National Bank increased its holdings in shares of Exelixis by 0.5% in the 3rd quarter. Swiss National Bank now owns 489,200 shares of the biotechnology company’s stock valued at $11,853,000 after purchasing an additional 2,300 shares during the period. Institutional investors and hedge funds own 80.60% of the company’s stock.
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Exelixis, Inc is a biopharmaceutical company. The Company is focused on discovery, development and commercialization of new medicines to manage care and outcomes for people with cancer. The Company’s cabozantinib product is an inhibitor of multiple tyrosine kinases, including MET, AXL, and VEGF receptors.
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