Exelixis Inc. (EXEL) Trading 4% Higher
Exelixis Inc. (NASDAQ:EXEL)’s share price traded up 4% on Thursday . The company traded as high as $11.12 and last traded at $11.04, with a volume of 2,874,008 shares trading hands. The stock had previously closed at $10.62.
A number of equities analysts have weighed in on the company. Leerink Swann reiterated a “buy” rating and set a $8.00 price objective (up previously from $7.00) on shares of Exelixis in a research note on Thursday, May 12th. Cowen and Company reiterated an “outperform” rating on shares of Exelixis in a research note on Tuesday, June 7th. Stifel Nicolaus lifted their price objective on Exelixis from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Tuesday, April 26th. Finally, Piper Jaffray Cos. reiterated a “neutral” rating and set a $8.00 price objective (up previously from $5.00) on shares of Exelixis in a research note on Thursday, August 4th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Exelixis has a consensus rating of “Buy” and an average price target of $9.63.
The firm’s market cap is $2.53 billion. The company’s 50 day moving average price is $9.13 and its 200-day moving average price is $6.06.
Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.16) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.11. During the same period in the prior year, the business earned ($0.22) EPS. The company had revenue of $36.25 million for the quarter, compared to analysts’ expectations of $16.76 million. The business’s revenue for the quarter was up 353.7% on a year-over-year basis. On average, equities analysts predict that Exelixis Inc. will post ($0.71) earnings per share for the current fiscal year.
In other news, insider Gisela Schwab sold 42,338 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 174,354 shares of the company’s stock, valued at approximately $1,917,894. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
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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