Exelixis Inc. (EXEL) Hits New 52-Week High at $11.70
Exelixis Inc. (NASDAQ:EXEL) reached a new 52-week high on Tuesday . The stock traded as high as $11.70 and last traded at $11.61, with a volume of 3,345,526 shares changing hands. The stock had previously closed at $11.44.
EXEL has been the subject of several research analyst reports. Stifel Nicolaus lifted their price target on shares of Exelixis from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Tuesday, April 26th. Leerink Swann reiterated a “buy” rating and set a $8.00 price objective (up from $7.00) on shares of Exelixis in a report on Thursday, May 12th. Cowen and Company reiterated a “buy” rating on shares of Exelixis in a report on Tuesday, May 24th. Finally, Piper Jaffray Cos. reiterated a “neutral” rating and set a $8.00 price objective (up from $5.00) on shares of Exelixis in a report on Thursday, August 4th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Exelixis has a consensus rating of “Buy” and a consensus target price of $9.63.
The firm’s 50-day moving average price is $9.47 and its 200-day moving average price is $6.27. The company’s market cap is $2.67 billion.
Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Wednesday, August 3rd. The biotechnology company reported ($0.16) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.11. The company earned $36.25 million during the quarter, compared to the consensus estimate of $16.76 million. During the same quarter last year, the company posted ($0.22) earnings per share. The firm’s revenue for the quarter was up 353.7% compared to the same quarter last year. On average, equities analysts anticipate that Exelixis Inc. will post ($0.71) EPS for the current year.
In related news, insider Gisela Schwab sold 42,338 shares of the 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 completion of the transaction, the insider now directly owns 174,354 shares in the company, valued at approximately $1,917,894. The sale was disclosed in a document filed 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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