Oppenheimer Assigns a Buy Rating on Exelixis

By Austin Angelo

In a report released today, Leah R. Cann from Oppenheimer assigned a Buy rating to Exelixis (NASDAQ: EXEL), with a price target of $40. The company’s shares opened today at $20.59.

Cann observed:

“Numerous presentations for Cabometyx are expected at 2018 ASCO and abstracts for these were released last night. There are multiple presentations on the previously released CELESTIAL randomized pivotal phase III trial of Cabometyx in patients with advanced HCC. In addition to the CELESTIAL data presentations, we believe the Cabometyx in combination with checkpoint inhibitors in urothelial cancer and Cometriq in metastatic Thyroid cancer are of interest.”

According to TipRanks.com, Cann is a 5-star analyst with an average return of 15.8% and a 58.6% success rate. Cann covers the Healthcare sector, focusing on stocks such as Miragen Therapeutics Inc, CytomX Therapeutics Inc, and Crispr Therapeutics AG.

Currently, the analyst consensus on Exelixis is Strong Buy and the average price target is $32.67, representing a 58.7% upside.

In a report issued on May 2, Cowen & Co. also maintained a Buy rating on the stock.

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The company has a one-year high of $32.50 and a one-year low of $18.03. Currently, Exelixis has an average volume of 3.62M.

Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock. Earlier this month, George Scangos, a Director at EXEL bought 15,000 shares for a total of $174,900.

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.