Exelixis (EXEL) Received its Third Buy in a Row


After Oppenheimer and RBC Capital gave Exelixis (NASDAQ: EXEL) a Buy rating last month, the company received another Buy, this time from William Blair. Analyst Andy Hsieh reiterated a Buy rating on Exelixis today. The company’s shares closed last Friday at $22.00.

According to TipRanks.com, Hsieh is a 4-star analyst with an average return of 19.2% and a 63.3% success rate. Hsieh covers the Healthcare sector, focusing on stocks such as Viking Therapeutics, Seattle Genetics, and Beyondspring.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Exelixis with a $31.17 average price target, a 41.7% upside from current levels. In a report issued on August 7, Oppenheimer also maintained a Buy rating on the stock with a $33.00 price target.

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Based on Exelixis’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $259 million and net profit of $66.82 million. In comparison, last year the company earned revenue of $240 million and had a net profit of $79.04 million.

Based on the recent corporate insider activity of 134 insiders, corporate insider sentiment is neutral on the stock. Most recently, in May 2020, Vincent Marchesi, a Director at EXEL sold 40,000 shares for a total of $985,600.

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. The company was founded by Corey S. Goodman and Stelios B. Papadopoulos on November 15, 1994 and is headquartered in Alameda, CA.

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