Traders Buy Exelixis Inc. (EXEL) on Weakness
Investors purchased shares of Exelixis Inc. (NASDAQ:EXEL) on weakness during trading on Tuesday. $24.03 million flowed into the stock on the tick-up and $5.34 million flowed out of the stock on the tick-down, for a money net flow of $18.69 million into the stock. Of all companies tracked, Exelixis had the 22nd highest net in-flow for the day. Exelixis traded down ($0.07) for the day and closed at $8.64
A number of analysts have weighed in on the stock. Cowen and Company restated a “buy” rating on shares of Exelixis in a research report on Sunday, April 17th. Leerink Swann restated a “buy” rating and issued a $8.00 target price (up previously from $7.00) on shares of Exelixis in a research report on Thursday, May 12th. Finally, Stifel Nicolaus raised their target price on shares of Exelixis from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Tuesday, April 26th. Five equities research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus target price of $8.17.
The company’s market cap is $1.98 billion. The firm’s 50 day moving average price is $7.93 and its 200 day moving average price is $5.42.
Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Wednesday, May 4th. The biotechnology company reported ($0.27) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by $0.02. The business had revenue of $15.40 million for the quarter, compared to analyst estimates of $9.11 million. During the same period in the previous year, the business earned ($0.18) EPS. The company’s quarterly revenue was up 63.8% on a year-over-year basis. Equities research analysts expect that Exelixis Inc. will post ($0.97) EPS for the current fiscal year.
In other Exelixis news, Director Lance Willsey purchased 40,000 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The stock was bought at an average cost of $4.97 per share, for a total transaction of $198,800.00. Following the purchase, the director now directly owns 548,273 shares in the company, valued at $2,724,916.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
A hedge fund recently raised its stake in Exelixis stock. California State Teachers Retirement System raised its stake in Exelixis Inc. (NASDAQ:EXEL) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 417,800 shares of the biotechnology company’s stock after buying an additional 6,682 shares during the period. California State Teachers Retirement System owned 0.18% of Exelixis worth $2,356,000 at the end of the most recent 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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