Exelixis (EXEL) is Upgraded by Piper Jaffray to Overweight

Exelixis (EXEL) was Upgraded by Piper Jaffray to ” Overweight”. Earlier the firm had a rating of “Neutral ” on the company shares. Piper Jaffray advised their investors in a research report released on Oct 10, 2016.

Many Wall Street Analysts have commented on Exelixis. Company shares were Reiterated by Stifel on Sep 15, 2016 to “Buy”, Firm has raised the Price Target to $ 15 from a previous price target of $12 .Company shares were Reiterated by Stifel on Aug 4, 2016 to “Buy”, Firm has raised the Price Target to $ 12 from a previous price target of $10 .

On the company’s financial health, Exelixis reported $-0.16 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $-0.27. The company had revenue of $36.25 million for the quarter, compared to analysts expectations of $16.37 million. The company’s revenue was up 353.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.22 EPS.

Exelixis closed down -0.23 points or -1.75% at $12.95 with 81,07,094 shares getting traded on Friday. Post opening the session at $13.33, the shares hit an intraday low of $12.33 and an intraday high of $13.3389 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Sep 2, 2016, Gisela Schwab (Pres Prod Dev & Med Aff & CMO) sold 131,155 shares at $10.98 per share price. According to the SEC, on May 11, 2016, Lance Willsey (director) purchased 60,000 shares at $4.96 per share price. On Oct 19, 2015, Peter Lamb (EVP, Discovery Research & CSO) sold 51,549 shares at $5.80 per share price, according to the Form-4 filing with the securities and exchange commission.

Exelixis Inc. is a biopharmaceutical company. The Company is engaged in developing small molecule therapies for the treatment of cancer. The Company is focusing on resources development and commercialization of COMETRIQ (cabozantinib) for the treatment of progressive metastatic medullary thyroid cancer (MTC) in the United States. The Company’s other programs include metastatic renal cell carcinoma (mRCC) a phase III trial comparing cabozantinib to everolimus in patients with mRCC who have experienced disease progression following treatment with at least one prior VEGFR TKI; CELESTIAL a phase III trial comparing cabozantinib with placebo in patients with advanced hepatocellular cancer (HCC) who have previously been treated with sorafenib; NSCLC (non-small cell lung cancer); mCRPC (metastatic castration-resistant prostate cancer) and XL888 a small molecule oral inhibitor of Heat Shock Protein 90 (HSP90).

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