Oppenheimer Gives a Hold Rating to Exelixis

By Carrie Williams

Oppenheimer analyst Leah R. Cann reiterated a Hold rating on Exelixis (NASDAQ: EXEL) today. The company’s shares closed yesterday at $20.88.

R. Cann noted:

“Based on indications that Cabometyx is being adopted more quickly in Q1 2017 than we had anticipated, we are adjusting our expected market penetration ramp.”

According to TipRanks.com, Cann is a 4-star analyst with an average return of 9.9% and a 66.7% success rate. Cann covers the Healthcare sector, focusing on stocks such as CytomX Therapeutics Inc, Seattle Genetics, and Acceleron Pharma.

Exelixis has an analyst consensus of Moderate Buy, with a price target consensus of $25.33.

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Gisela Schwab, the EVP and Chief Medical Officer of EXEL bought 10,090 shares for a total of $99,992.

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 developing and commercializing small molecule therapies for the treatment of cancer. Its brands include COMETRIQ and cobimetinib. The company focuses on their proprietary resources and development and commercialization of cabozantinib. Exelixis was founded by Corey S. Goodman and Stelios B. Papadopoulos on November 15, 1994 and is headquartered in South San Francisco, CA.