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Exelixis, Inc. (NASDAQ:EXEL) has been upgraded to Overweight in a statement by Piper Jaffray Cos. earlier today.

Yesterday Exelixis, Inc. (NASDAQ:EXEL) traded 0.77% higher at $13.10. The company’s 50-day moving average is $12.62 and its 200-day moving average is $8.24. The last closing price is up 58.47% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 3,286,105 shares of the stock were exchanged, down from an average trading volume of 6,190,070

Piper Jaffray Cos. has upgraded Exelixis, Inc. (NASDAQ:EXEL) to Overweight in a report released on 10/10/2016.

Previously on Thursday September 15, 2016, Stifel Nicolaus reported on Exelixis, Inc. (NASDAQ:EXEL) raised the target price from $12.00 to $15.00. At the time, this indicated a possible upside of 0.15%.

See Chart Below

Exelixis, Inc. (NASDAQ:EXEL)

Exelixis, Inc. has a one year low of $3.55 and a 52 week high of $15.58 EXEL’s total market value is currently $0.

In addition to Piper Jaffray Cos. reporting its stock price target, a total of 3 brokers have issued a research note on the company. The average stock price target is $7.00 with 3 brokers rating the stock a strong buy, 1 broker rating the stock a buy, 1 broker rating the stock a hold, 0 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell.

Brief Synopsis On Exelixis, Inc. (NASDAQ:EXEL)

Exelixis, Inc. is a biopharmaceutical company. The Company is engaged in developing small molecule therapies for the treatment of cancer. It focuses on the development and commercialization of cabozantinib, an inhibitor of multiple receptor tyrosine kinases, in various tumor indications. Cabozantinib is indicated for the treatment of progressive, metastatic medullary thyroid cancer, and is sold under the brand name COMETRIQ. It is evaluating Cabozantinib in a development program, which consists of over 45 clinical trials, across multiple indications, including pivotal studies in advanced renal cell carcinoma (RCC) and hepatocellular carcinoma (HCC). Its other products are Cobimetinib and XL888. Cobimetinib is a potent, selective inhibitor of MEK, a kinase that is a component of the RAS/RAF/MEK/ERK pathway. XL888 is a small molecule oral inhibitor of Heat Shock Protein 90 (HSP90), a molecular chaperone protein that affects the activity and stability of a range of regulatory proteins.

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