Exelixis Inc. (EXEL) Hits New 1-Year High at $8.20
Exelixis Inc. (NASDAQ:EXEL)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $8.20 and last traded at $8.03, with a volume of 2,496,010 shares trading hands. The stock had previously closed at $8.17.
Several research firms recently commented on EXEL. Leerink Swann reissued an “outperform” rating and issued a $10.00 target price (up previously from $8.00) on shares of Exelixis in a report on Tuesday, June 21st. Cowen and Company reaffirmed an “outperform” rating on shares of Exelixis in a report on Tuesday, June 7th. Finally, Stifel Nicolaus raised their price objective on Exelixis from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, April 26th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $7.63.
The stock has a 50-day moving average of $7.09 and a 200 day moving average of $5.11. The stock’s market cap is $1.86 billion.
Exelixis (NASDAQ:EXEL) last posted its earnings results on Wednesday, May 4th. The biotechnology company reported ($0.27) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by $0.02. The company had revenue of $15.40 million for the quarter, compared to analyst estimates of $9.11 million. The company’s quarterly revenue was up 63.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.18) EPS. On average, equities research analysts forecast that Exelixis Inc. will post ($0.83) EPS for the current year.
In other Exelixis news, Director Lance Willsey bought 40,000 shares of Exelixis stock in a transaction that occurred on Monday, May 9th. The shares were acquired at an average price of $4.97 per share, for a total transaction of $198,800.00. Following the acquisition, the director now owns 548,273 shares of the company’s stock, valued at approximately $2,724,916.81. The acquisition was disclosed in a filing with the SEC, which is available at this link.
A number of institutional investors have recently modified their holdings of EXEL. Tekla Capital Management LLC purchased a new position in shares of Exelixis during the fourth quarter worth approximately $5,775,000. ProShare Advisors LLC raised its position in shares of Exelixis by 11.4% in the fourth quarter. ProShare Advisors LLC now owns 215,541 shares of the biotechnology company’s stock worth $1,216,000 after buying an additional 22,096 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in shares of Exelixis by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 417,800 shares of the biotechnology company’s stock worth $2,356,000 after buying an additional 6,682 shares in the last quarter.
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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