Exelixis Inc. (EXEL) Hits New 52-Week High at $8.28
Exelixis Inc. (NASDAQ:EXEL) hit a new 52-week high on Monday . The company traded as high as $8.28 and last traded at $8.22, with a volume of 2,295,854 shares trading hands. The stock had previously closed at $8.15.
A number of brokerages have weighed in on EXEL. Cowen and Company reiterated a “buy” rating on shares of Exelixis in a research note on Sunday, April 17th. Leerink Swann restated a “buy” rating and issued a $8.00 price objective (up from $7.00) on shares of Exelixis in a research note on Thursday, May 12th. Finally, Stifel Nicolaus upped their price objective on Exelixis from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Tuesday, April 26th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Exelixis currently has an average rating of “Buy” and an average price target of $7.63.
The firm has a 50-day moving average of $7.40 and a 200 day moving average of $5.19. The stock’s market capitalization is $1.86 billion.
Exelixis (NASDAQ:EXEL) last announced its earnings results on Wednesday, May 4th. The biotechnology company reported ($0.27) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by $0.02. During the same period last year, the business posted ($0.18) EPS. The business had revenue of $15.40 million for the quarter, compared to the consensus estimate of $9.11 million. The firm’s quarterly revenue was up 63.8% compared to the same quarter last year. On average, analysts expect that Exelixis Inc. will post ($0.83) earnings per share for the current fiscal year.
In other news, Director Lance Willsey bought 60,000 shares of the stock in a transaction on Wednesday, May 11th. The stock was bought at an average cost of $4.97 per share, for a total transaction of $298,200.00. Following the completion of the purchase, the director now directly owns 548,273 shares in the company, valued at $2,724,916.81. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Other large investors recently bought and sold shares of the company. ProShare Advisors LLC increased its stake in 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 during the last quarter. California State Teachers Retirement System increased its stake in 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 during the last quarter. Finally, Tekla Capital Management LLC bought a new stake in Exelixis during the fourth quarter valued at approximately $5,775,000.
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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