Exelixis Inc. (EXEL) Trading 4% Higher
Exelixis Inc. (NASDAQ:EXEL) shares traded up 4% on Thursday . The company traded as high as $10.80 and last traded at $10.78, with a volume of 2,340,576 shares trading hands. The stock had previously closed at $10.37.
A number of research analysts have weighed in on EXEL shares. Cowen and Company reissued a “buy” rating on shares of Exelixis in a research note on Sunday, April 17th. Leerink Swann reissued a “buy” rating and issued a $8.00 target price (up from $7.00) on shares of Exelixis in a research note on Thursday, May 12th. Stifel Nicolaus raised their target price on shares of Exelixis from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Tuesday, April 26th. Finally, Piper Jaffray Cos. reissued a “neutral” rating and issued a $8.00 target price (up from $5.00) on shares of Exelixis in a research note on Thursday, August 4th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Exelixis presently has a consensus rating of “Buy” and an average target price of $9.63.
The company’s 50 day moving average is $8.79 and its 200-day moving average is $5.88. The stock’s market cap is $2.46 billion.
Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.11. The firm had revenue of $36.25 million for the quarter, compared to analyst estimates of $16.76 million. The company’s revenue was up 353.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.22) earnings per share. On average, equities research analysts forecast that Exelixis Inc. will post ($0.72) earnings per share for the current year.
In other news, insider Gisela Schwab sold 42,338 shares of the stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $11.00, for a total value of $465,718.00. Following the sale, the insider now directly owns 174,354 shares in the company, valued at $1,917,894. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
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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