Exelixis Inc. (EXEL) Sees Strong Trading Volume
Exelixis Inc. (NASDAQ:EXEL) shares saw strong trading volume on Wednesday . 7,660,190 shares were traded during mid-day trading, an increase of 43% from the previous session’s volume of 5,375,194 shares.The stock last traded at $14.51 and had previously closed at $14.16.
Several research analysts have recently weighed in on EXEL shares. Leerink Swann reissued an “outperform” rating and issued a $12.00 target price on shares of Exelixis in a research report on Tuesday. Stifel Nicolaus lifted their target price on shares of Exelixis from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, September 15th. William Blair reissued an “outperform” rating on shares of Exelixis in a research report on Thursday, September 15th. Zacks Investment Research raised shares of Exelixis from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Tuesday, September 13th. Finally, Cowen and Company reissued a “buy” rating on shares of Exelixis in a research report on Wednesday, August 10th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Exelixis currently has an average rating of “Buy” and an average target price of $11.10.
The company’s 50-day moving average price is $11.61 and its 200 day moving average price is $7.43. The company’s market cap is $3.39 billion.
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Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.11. The company had revenue of $36.25 million for the quarter, compared to analyst estimates of $16.76 million. The firm’s quarterly revenue was up 353.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.22) EPS. On average, analysts anticipate that Exelixis Inc. will post ($0.63) EPS for the current fiscal year.
In related news, insider Gisela Schwab sold 42,338 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $11.00, for a total transaction of $465,718.00. Following the transaction, the insider now owns 174,354 shares in the company, valued at approximately $1,917,894. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 5.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Seven Eight Capital LLC acquired a new position in Exelixis during the second quarter worth about $105,000. GSA Capital Partners LLP acquired a new position in Exelixis during the second quarter worth about $117,000. Acrospire Investment Management LLC increased its position in 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 last quarter. Legal & General Group Plc increased its position in 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 last quarter. Finally, Stifel Financial Corp increased its position in 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 last quarter. Institutional investors and hedge funds own 81.80% of the company’s stock.
Exelixis Company Profile
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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