Exelixis (EXEL) Receives a Buy from Needham

In a report released today, Chad Messer from Needham maintained a Buy rating on Exelixis (EXEL), with a price target of $28.00. The company’s shares closed last Monday at $19.47.

According to TipRanks.com, Messer is a 5-star analyst with an average return of 11.3% and a 48.1% success rate. Messer covers the Healthcare sector, focusing on stocks such as Phasebio Pharmaceuticals, Aeglea Biotherapeutics, and Ionis Pharmaceuticals.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Exelixis with a $25.13 average price target, which is a 27.4% upside from current levels. In a report issued on January 27, Oppenheimer also maintained a Buy rating on the stock with a $25.00 price target.

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Based on Exelixis’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $97.45 million. In comparison, last year the company had a net profit of $360 million.

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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.

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