Exelixis Inc. (EXEL) Stock Price Up 4%
Exelixis Inc. (NASDAQ:EXEL) rose 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. The stock had previously closed at $10.62.
EXEL has been the subject of a number of recent research reports. Stifel Nicolaus raised their price target on Exelixis from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Leerink Swann reissued an “outperform” rating and issued a $10.00 price objective (up from $8.00) on shares of Exelixis in a research note on Tuesday, June 21st. Piper Jaffray Cos. reissued a “neutral” rating and issued a $8.00 price objective (up from $5.00) on shares of Exelixis in a research note on Thursday, August 4th. Finally, Cowen and Company reissued a “buy” rating on shares of Exelixis in a research note on Wednesday, August 10th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $9.63.
The company’s market cap is $2.53 billion. The firm’s 50-day moving average price is $9.31 and its 200 day moving average price is $6.15.
Exelixis (NASDAQ:EXEL) last posted its 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 business earned $36.25 million during the quarter, compared to analyst estimates of $16.76 million. During the same period in the previous year, the firm posted ($0.22) earnings per share. The firm’s revenue was up 353.7% on a year-over-year basis. On average, analysts predict that Exelixis Inc. will post ($0.71) earnings per share for the current fiscal year.
In other Exelixis news, insider Gisela Schwab sold 42,338 shares of the business’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $11.00, for a total value of $465,718.00. Following the completion of the transaction, the insider now directly owns 174,354 shares of the company’s stock, valued at $1,917,894. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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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