Exelixis Inc. (NASDAQ:EXEL) fell 4.2% on Wednesday . The company traded as low as $11.11 and last traded at $11.12, with a volume of 5,426,345 shares trading hands. The stock had previously closed at $11.61.

A number of research firms recently weighed in on EXEL. Cowen and Company reaffirmed a “buy” rating on shares of Exelixis in a report on Wednesday, August 10th. Leerink Swann reaffirmed an “outperform” rating and set a $8.00 price target on shares of Exelixis in a report on Wednesday, May 25th. Stifel Nicolaus raised their price target on Exelixis from $10.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Finally, Piper Jaffray Cos. reaffirmed a “neutral” rating and set a $8.00 price target (up from $5.00) on shares of Exelixis in a report on Thursday, August 4th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Exelixis has an average rating of “Buy” and a consensus target price of $9.63.

The company’s 50-day moving average price is $9.54 and its 200 day moving average price is $6.30. The stock’s market cap is $2.50 billion.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, beating the 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. The company’s quarterly revenue was up 353.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.22) earnings per share. Equities research analysts predict that Exelixis Inc. will post ($0.71) earnings per share for the current fiscal year.

In related news, insider Gisela Schwab sold 42,338 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 174,354 shares in the company, valued at $1,917,894. The sale was disclosed in a filing with the SEC, which is available at this link.

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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