Exelixis Inc. (EXEL) Hits New 12-Month High at $8.28
Exelixis Inc. (NASDAQ:EXEL) hit a new 52-week high on Monday . The stock traded as high as $8.28 and last traded at $8.22, with a volume of 2,295,854 shares traded. The stock had previously closed at $8.15.
EXEL has been the topic of several analyst reports. Leerink Swann reaffirmed an “outperform” rating and issued a $10.00 target price (up from $8.00) on shares of Exelixis in a research report on Tuesday, June 21st. Stifel Nicolaus raised Exelixis from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research report on Monday, April 4th. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Exelixis in a research report on Tuesday, May 24th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Exelixis presently has an average rating of “Buy” and an average price target of $7.63.
The company’s market cap is $1.88 billion. The firm has a 50 day moving average of $7.26 and a 200 day moving average of $5.15.
Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Wednesday, May 4th. The biotechnology company reported ($0.27) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.02. During the same quarter last year, the firm earned ($0.18) earnings per share. The company earned $15.40 million during the quarter, compared to analyst estimates of $9.11 million. The business’s quarterly revenue was up 63.8% compared to the same quarter last year. On average, equities research analysts anticipate that Exelixis Inc. will post ($0.83) EPS for the current fiscal year.
In other Exelixis news, Director Lance Willsey purchased 40,000 shares of the company’s stock in a transaction on Monday, May 9th. The shares were bought at an average cost of $4.97 per share, with a total value of $198,800.00. Following the transaction, the director now directly owns 548,273 shares in the company, valued at approximately $2,724,916.81. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.
A number of hedge funds and institutional investors have modified their holdings of the company. Tekla Capital Management LLC acquired a new position in shares of Exelixis during the fourth quarter valued at approximately $5,775,000. ProShare Advisors LLC increased its position in shares of Exelixis by 11.4% in the fourth quarter. ProShare Advisors LLC now owns 215,541 shares of the biotechnology company’s stock valued at $1,216,000 after buying an additional 22,096 shares in the last quarter. Finally, California State Teachers Retirement System increased its position in shares of Exelixis by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 417,800 shares of the biotechnology company’s stock valued at $2,356,000 after buying an additional 6,682 shares in the last quarter.
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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