Exelixis Sees Significant Drop in Short Interest (EXEL)
Shares of Exelixis (NASDAQ:EXEL) saw a significant drop in short interest during the month of June. As of June 13th, there was short interest totalling 48,357,190 shares, a drop of 1.5% from the May 30th total of 49,073,148 shares, AmericanBankingNews.com reports. Approximately 25.6% of the company’s shares are sold short. Based on an average daily trading volume, of 2,389,712 shares, the days-to-cover ratio is currently 20.2 days.
Several analysts have recently commented on the stock. Analysts at Leerink Swann reiterated a “market perform” rating on shares of Exelixis in a research note on Friday, May 2nd. They now have a $4.50 price target on the stock. Separately, analysts at Jefferies Group reiterated a “hold” rating on shares of Exelixis in a research note on Friday, May 2nd. They now have a $4.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Exelixis currently has an average rating of “Buy” and a consensus price target of $6.70.
Shares of Exelixis (NASDAQ:EXEL) opened at 3.39 on Tuesday. Exelixis has a 1-year low of $3.02 and a 1-year high of $8.41. The stock has a 50-day moving average of $3.45 and a 200-day moving average of $5.1. The company’s market cap is $660.0 million.
Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.37) by $0.02. The company had revenue of $4.90 million for the quarter, compared to the consensus estimate of $6.11 million. During the same quarter in the previous year, the company posted ($0.24) earnings per share. The company’s revenue for the quarter was down 49.5% on a year-over-year basis. Analysts expect that Exelixis will post $-1.56 EPS for the current fiscal year.
Exelixis, Inc (NASDAQ:EXEL) is a biotechnology company engaged in developing small molecule therapies for the treatment of cancer.
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