Exelixis Inc. (EXEL) Short Interest Update
Exelixis Inc. (NASDAQ:EXEL) saw a significant drop in short interest in September. As of September 30th, there was short interest totalling 20,430,672 shares, a drop of 8.6% from the September 15th total of 22,354,442 shares. Approximately 9.7% of the company’s stock are short sold. Based on an average trading volume of 10,187,708 shares, the short-interest ratio is currently 2.0 days.
Several analysts have recently weighed in on EXEL shares. Leerink Swann restated a “buy” rating and set a $10.00 target price on shares of Exelixis in a research note on Tuesday, July 19th. Piper Jaffray Cos. raised shares of Exelixis from a “neutral” rating to an “overweight” rating in a research report on Monday. Stifel Nicolaus increased their price target 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. Finally, Cowen and Company reaffirmed an “outperform” rating on shares of Exelixis in a research report on Wednesday. Six equities research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average price target of $13.51.
In other news, insider Gisela Schwab sold 42,338 shares of the firm’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $11.00, for a total transaction of $465,718.00. Following the completion of the sale, the insider now directly owns 174,354 shares in the company, valued at $1,917,894. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.90% of the company’s stock.
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Several institutional investors have recently made changes to their positions in the company. Fox Run Management L.L.C. raised its position in shares of Exelixis by 12.5% in the third quarter. Fox Run Management L.L.C. now owns 11,700 shares of the biotechnology company’s stock worth $150,000 after buying an additional 1,300 shares during the last quarter. Creative Planning raised its position in shares of Exelixis by 60.2% in the third quarter. Creative Planning now owns 84,813 shares of the biotechnology company’s stock worth $1,085,000 after buying an additional 31,883 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Exelixis by 925.8% in the third quarter. BNP Paribas Arbitrage SA now owns 90,581 shares of the biotechnology company’s stock worth $1,159,000 after buying an additional 81,751 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Exelixis by 2.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 796,015 shares of the biotechnology company’s stock worth $6,217,000 after buying an additional 15,522 shares during the last quarter. Finally, Stifel Financial Corp raised its position 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 last quarter. Institutional investors own 81.80% of the company’s stock.
Exelixis (NASDAQ:EXEL) opened at 11.91 on Friday. The firm’s market cap is $2.74 billion. The company has a 50-day moving average of $12.74 and a 200-day moving average of $8.44. Exelixis has a 1-year low of $3.55 and a 1-year high of $15.58.
Exelixis (NASDAQ:EXEL) last announced its earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, topping the Zacks’ 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. During the same quarter in the previous year, the company posted ($0.22) earnings per share. Exelixis’s revenue for the quarter was up 353.7% on a year-over-year basis. Analysts predict that Exelixis will post ($0.61) earnings per share for the current year.
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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