Exelixis Inc. (EXEL) Stock Price Up 3.4%
Shares of Exelixis Inc. (NASDAQ:EXEL) rose 3.4% during trading on Tuesday . The stock traded as high as $14.27 and last traded at $14.10, with a volume of 3,630,236 shares trading hands. The stock had previously closed at $13.64.
EXEL has been the topic of several recent analyst reports. Stifel Nicolaus increased their target price on Exelixis from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Leerink Swann reissued a “buy” rating and set a $10.00 price target on shares of Exelixis in a report on Tuesday, July 19th. Cowen and Company reissued a “buy” rating on shares of Exelixis in a report on Wednesday, August 10th. Zacks Investment Research raised Exelixis from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Tuesday, September 13th. Finally, Piper Jaffray Cos. reissued a “neutral” rating and set a $8.00 price target (up from $5.00) on shares of Exelixis in a report on Thursday, August 4th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Exelixis presently has a consensus rating of “Buy” and a consensus target price of $11.10.
The company’s market cap is $3.26 billion. The company has a 50-day moving average price of $11.31 and a 200 day moving average price of $7.30.
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Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Wednesday, August 3rd. The biotechnology company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.11. The business earned $36.25 million during the quarter, compared to the consensus estimate of $16.76 million. The business’s quarterly revenue was up 353.7% on a year-over-year basis. During the same period last year, the firm earned ($0.22) EPS. Equities analysts anticipate that Exelixis Inc. will post ($0.65) earnings per share for the current year.
In related news, insider Gisela Schwab sold 42,338 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $11.00, for a total value of $465,718.00. Following the completion of the transaction, the insider now owns 174,354 shares of the company’s stock, valued at $1,917,894. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 5.90% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Seven Eight Capital LLC purchased a new position in Exelixis during the second quarter valued at about $105,000. GSA Capital Partners LLP bought a new stake in shares of Exelixis during the second quarter worth $117,000. Acrospire Investment Management LLC raised its stake in shares of Exelixis by 444.4% in the second quarter. Acrospire Investment Management LLC now owns 15,253 shares of the biotechnology company’s stock worth $119,000 after buying an additional 12,451 shares during the period. Legal & General Group Plc raised its stake in shares of Exelixis by 11.4% in the first quarter. Legal & General Group Plc now owns 33,497 shares of the biotechnology company’s stock worth $136,000 after buying an additional 3,440 shares during the period. Finally, Stifel Financial Corp raised its stake in shares of Exelixis by 25.7% in the second quarter. Stifel Financial Corp now owns 17,600 shares of the biotechnology company’s stock worth $138,000 after buying an additional 3,600 shares during the period. 81.80% of the stock is currently owned by institutional investors and hedge funds.
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.
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