Exelixis (EXEL) : Analyst Rating Update

Exelixis (EXEL) : 5 analysts are covering Exelixis (EXEL) and their average rating on the stock is 1.4, which is read as a Strong Buy. 4 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 1 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Exelixis (EXEL) : The consensus price target for Exelixis (EXEL) is $7.67 for the short term with a standard deviation of $2.52. The most optimist securities analyst among the 3 who monitor the stock believes that the stock can reach $10, however, the pessimist price target for the company is $5.

Exelixis (NASDAQ:EXEL): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $8.00 and $7.93 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $8.15. The buying momentum continued till the end and the stock did not give up its gains. It closed at $8.14, notching a gain of 1.12% for the day. The total traded volume was 5,871,358 . The stock had closed at $8.05 on the previous day.

Also, Equity Analysts at the Brokerage Firm, Stifel Nicolaus, upgrades their rating on the shares of Exelixis (NASDAQ:EXEL). Stifel Nicolaus has a Buy rating on the shares. Previously, the analysts had a Hold rating on the shares. The rating by the firm was issued on April 4, 2016. The company shares have rallied 141.74% from its 1 Year high price. On Jul 5, 2016, the shares registered one year high at $8.21 and the one year low was seen on Jul 8, 2015. The 50-Day Moving Average price is $7.01 and the 200 Day Moving Average price is recorded at $5.08.

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 Companys 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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