Exelixis, Inc. (EXEL) Sees Significant Increase in Short Interest
Exelixis, Inc. (NASDAQ:EXEL) was the target of a significant growth in short interest during the month of September. As of September 29th, there was short interest totalling 19,986,804 shares, a growth of 8.2% from the September 15th total of 18,464,387 shares. Based on an average trading volume of 3,898,368 shares, the short-interest ratio is currently 5.1 days. Currently, 7.1% of the company’s shares are sold short.
In related news, insider Gisela Schwab sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $23.79, for a total value of $2,379,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael Morrissey sold 300,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $26.90, for a total value of $8,070,000.00. The disclosure for this sale can be found here. Insiders sold 970,152 shares of company stock worth $25,923,457 over the last quarter. 5.10% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of the company. Navellier & Associates Inc bought a new stake in shares of Exelixis in the 2nd quarter worth approximately $1,054,000. Public Employees Retirement System of Ohio grew its position in shares of Exelixis by 123.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 233,322 shares of the biotechnology company’s stock worth $5,747,000 after buying an additional 129,008 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of Exelixis in the 2nd quarter worth approximately $473,000. California State Teachers Retirement System grew its position in shares of Exelixis by 14.9% in the 2nd quarter. California State Teachers Retirement System now owns 515,076 shares of the biotechnology company’s stock worth $12,686,000 after buying an additional 66,783 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Exelixis by 1,923.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 263,086 shares of the biotechnology company’s stock worth $6,480,000 after buying an additional 250,086 shares during the last quarter. Hedge funds and other institutional investors own 79.20% of the company’s stock.
Several analysts recently commented on the company. Leerink Swann cut Exelixis from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $34.00 to $28.00 in a report on Friday, September 22nd. BidaskClub upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a report on Friday, August 25th. Royal Bank Of Canada assumed coverage on Exelixis in a report on Thursday, September 14th. They issued an “outperform” rating and a $32.00 target price on the stock. TheStreet upgraded Exelixis from a “c” rating to a “b-” rating in a report on Monday, August 7th. Finally, Cowen and Company reiterated an “outperform” rating on shares of Exelixis in a report on Thursday, August 10th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $29.50.
Exelixis (EXEL) opened at 25.65 on Thursday. The company has a market capitalization of $7.54 billion, a PE ratio of 129.55 and a beta of 1.91. The firm’s 50 day moving average price is $26.39 and its 200-day moving average price is $23.88. Exelixis has a 12-month low of $10.04 and a 12-month high of $29.50.
Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.02. The firm had revenue of $99.01 million for the quarter, compared to analyst estimates of $85.27 million. Exelixis had a return on equity of 80.43% and a net margin of 18.20%. The business’s quarterly revenue was up 173.1% compared to the same quarter last year. During the same period last year, the company earned ($0.15) EPS. On average, equities analysts anticipate that Exelixis will post $0.27 earnings per share for the current fiscal year.
Exelixis Company Profile
Exelixis, Inc is a biopharmaceutical company. The Company is focused on discovery, development and commercialization of new medicines to manage care and outcomes for people with cancer. The Company’s cabozantinib product is an inhibitor of multiple tyrosine kinases, including MET, AXL, and VEGF receptors.
Receive News & Ratings for Exelixis Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exelixis Inc. and related companies with MarketBeat.com's FREE daily email newsletter.