Exelixis (EXEL) Receives a Buy from Needham

By Ryan Adsit

Needham analyst Chad Messer maintained a Buy rating on Exelixis (EXELResearch Report) today and set a price target of $28.00. The company’s shares closed last Monday at $17.60.

According to TipRanks.com, Messer is a 4-star analyst with an average return of 10.0% and a 45.0% 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 $24.78 average price target, a 40.4% upside from current levels. In a report issued on January 12, Cowen & Co. also maintained a Buy rating on the stock with a $23.00 price target.

See today’s analyst top recommended stocks >>

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.

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.