Exelixis Inc. (EXEL) Hits New 12-Month High at $8.55
Exelixis Inc. (NASDAQ:EXEL)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $8.55 and last traded at $8.50, with a volume of 1,123,822 shares trading hands. The stock had previously closed at $8.37.
Several equities analysts have weighed in on EXEL shares. Stifel Nicolaus upgraded Exelixis from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a report on Monday, April 4th. Cowen and Company restated a “buy” rating on shares of Exelixis in a report on Tuesday, May 24th. Finally, Leerink Swann restated a “buy” rating and set a $8.00 price target (up previously from $7.00) on shares of Exelixis in a report on Thursday, May 12th. Five analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average price target of $8.17.
The company has a 50-day moving average price of $7.77 and a 200 day moving average price of $5.34. The company’s market capitalization is $1.96 billion.
Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Wednesday, May 4th. The biotechnology company reported ($0.27) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by $0.02. The firm earned $15.40 million during the quarter, compared to analyst estimates of $9.11 million. During the same period in the previous year, the business posted ($0.18) earnings per share. The firm’s revenue for the quarter was up 63.8% on a year-over-year basis. On average, equities analysts forecast that Exelixis Inc. will post ($0.97) earnings per share for the current year.
In related news, Director Lance Willsey acquired 40,000 shares of the firm’s stock in a transaction dated Monday, May 9th. The stock was acquired at an average price of $4.97 per share, with a total value of $198,800.00. Following the acquisition, the director now directly owns 548,273 shares in the company, valued at approximately $2,724,916.81. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Other institutional investors recently modified their holdings of the company. Tekla Capital Management LLC bought a new position in shares of Exelixis during the fourth quarter valued at about $5,775,000. California State Teachers Retirement System boosted 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 during the period. Finally, ProShare Advisors LLC boosted its position in 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 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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