Exelixis (EXEL) Reaches New 12-Month Low at $15.49

Exelixis, Inc. (NASDAQ:EXEL)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $15.49 and last traded at $15.77, with a volume of 178460 shares trading hands. The stock had previously closed at $16.24.

EXEL has been the subject of several recent research reports. BidaskClub upgraded shares of Exelixis from a “strong sell” rating to a “sell” rating in a research report on Friday, June 22nd. ValuEngine cut shares of Exelixis from a “sell” rating to a “strong sell” rating in a research report on Friday, June 22nd. Zacks Investment Research upgraded shares of Exelixis from a “hold” rating to a “strong-buy” rating and set a $25.00 price objective for the company in a research report on Tuesday, July 31st. Stifel Nicolaus decreased their price objective on shares of Exelixis from $29.00 to $25.00 and set a “hold” rating for the company in a research report on Wednesday, August 1st. Finally, Morgan Stanley assumed coverage on shares of Exelixis in a research report on Monday, September 10th. They set an “underweight” rating and a $19.00 price objective for the company. Three research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $30.70.

The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 32.73 and a beta of 1.94.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Wednesday, August 1st. The biotechnology company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.12. The company had revenue of $186.10 million during 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%. Exelixis’s revenue for the quarter was up 88.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.06 earnings per share. As a group, sell-side analysts predict that Exelixis, Inc. will post 1.03 earnings per share for the current fiscal year.

In related news, insider Gisela Schwab sold 22,500 shares of the stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $20.56, for a total transaction of $462,600.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director George A. Scangos sold 25,000 shares of the stock in a transaction on Monday, September 24th. The stock was sold at an average price of $16.85, for a total transaction of $421,250.00. Following the transaction, the director now directly owns 1,561,981 shares in the company, valued at $26,319,379.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 586,129 shares of company stock worth $11,655,453. 4.80% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. James Investment Research Inc. bought a new position in Exelixis during the second quarter worth $133,000. TLP Group LLC bought a new position in Exelixis during the first quarter worth $179,000. Washington Trust Bank bought a new position in Exelixis during the second quarter worth $213,000. Oppenheimer Asset Management Inc. bought a new position in Exelixis during the second quarter worth $217,000. Finally, Fox Run Management L.L.C. bought a new position in Exelixis during the third quarter worth $183,000. 80.90% of the stock is currently owned by institutional investors and hedge funds.

Exelixis Company Profile (NASDAQ:EXEL)

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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