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Cowen & Co. Thinks Exelixis’ Stock is Going to Recover


Cowen & Co. analyst Boris Peaker maintained a Buy rating on Exelixis (NASDAQ: EXEL) today. The company’s shares closed yesterday at $17.35, close to its 52-week low of $15.81.

According to TipRanks.com, Peaker is a 4-star analyst with an average return of 9.2% and a 42.7% success rate. Peaker covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics Inc, Corvus Pharmaceuticals Inc, and Stemline Therapeutics Inc.

Currently, the analyst consensus on Exelixis is a Moderate Buy with an average price target of $28.60, which is a 64.8% upside from current levels. In a report released yesterday, Oppenheimer also initiated coverage with a Buy rating on the stock with a $40 price target.

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Based on Exelixis’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $87.49 million. In comparison, last year the company had a net profit of $81.16 million.

Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2018, Gisela Schwab, the Pres, Prod Dev & Med Aff & CMO of EXEL bought 50,000 shares for a total of $275,500.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Exelixis, Inc. is a biopharmaceutical company, which engages in the development, commercialization, and discovery of new medicines for the treatment of cancer. It offers products under the brands of Cometriq, Cabometyx, and Cotellic.