Exelixis Inc. (EXEL) Trading Up 4%
Shares of Exelixis Inc. (NASDAQ:EXEL) were 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. The stock had previously closed at $10.37.
A number of analysts have recently weighed in on EXEL shares. Cowen and Company reiterated a “buy” rating on shares of Exelixis in a report on Tuesday, May 24th. Leerink Swann reiterated a “buy” rating and set a $8.00 target price (up from $7.00) on shares of Exelixis in a report on Thursday, May 12th. Stifel Nicolaus increased their target price on shares of Exelixis from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, April 26th. Finally, Piper Jaffray Cos. reiterated a “neutral” rating and set a $8.00 target price (up from $5.00) on shares of Exelixis in a report on Thursday, August 4th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $9.63.
The stock has a 50-day moving average price of $8.87 and a 200-day moving average price of $5.92. The company’s market capitalization is $2.46 billion.
Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.11. The company earned $36.25 million during the quarter, compared to the consensus estimate of $16.76 million. The business’s revenue was up 353.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.22) earnings per share. On average, analysts anticipate that Exelixis Inc. will post ($0.72) EPS for the current year.
In other news, insider Gisela Schwab sold 42,338 shares of the business’s stock in a transaction dated 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 approximately $1,917,894. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
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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