Exelixis Inc. (EXEL) Trading Up 2.2%
Exelixis Inc. (NASDAQ:EXEL) was up 2.2% during trading on Friday . The stock traded as high as $8.47 and last traded at $8.40, with a volume of 2,812,709 shares traded. The stock had previously closed at $8.22.
Several equities research analysts recently commented on EXEL shares. Stifel Nicolaus upgraded shares of Exelixis from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research report on Monday, April 4th. Cowen and Company reiterated a “buy” rating on shares of Exelixis in a research report on Tuesday, May 24th. Finally, Leerink Swann reiterated a “buy” rating and issued a $8.00 price objective (up from $7.00) on shares of Exelixis in a research report on Thursday, May 12th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Exelixis currently has a consensus rating of “Buy” and a consensus price target of $7.63.
The stock’s market cap is $1.93 billion. The stock’s 50-day moving average price is $7.51 and its 200-day moving average price is $5.24.
Exelixis (NASDAQ:EXEL) last posted its earnings results on Wednesday, May 4th. The biotechnology company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by $0.02. The business earned $15.40 million during the quarter, compared to the consensus estimate of $9.11 million. The business’s revenue was up 63.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.18) EPS. Equities research analysts predict that Exelixis Inc. will post ($0.95) earnings per share for the current year.
In related news, Director Lance Willsey bought 40,000 shares of the business’s stock in a transaction on Monday, May 9th. The shares were bought at an average cost of $4.97 per share, for a total transaction of $198,800.00. Following the completion of the purchase, the director now owns 548,273 shares of the company’s stock, valued at approximately $2,724,916.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Several hedge funds and institutional investors have modified their holdings of EXEL. California State Teachers Retirement System raised 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 worth $2,356,000 after buying an additional 6,682 shares during the period. ProShare Advisors LLC raised 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 worth $1,216,000 after buying an additional 22,096 shares during the period. Finally, Tekla Capital Management LLC acquired a new position in shares of Exelixis during the fourth quarter worth 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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