Short Interest in Exelixis Inc. (EXEL) Declines By 30.4%
Exelixis Inc. (NASDAQ:EXEL) was the target of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 23,864,839 shares, a decrease of 30.4% from the August 15th total of 34,290,608 shares. Approximately 11.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 4,772,863 shares, the days-to-cover ratio is currently 5.0 days.
In related news, insider Gisela Schwab sold 42,338 shares of the company’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $11.00, for a total transaction of $465,718.00. Following the completion of the sale, the insider now directly owns 174,354 shares in the company, valued at approximately $1,917,894. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 5.90% of the company’s stock.
A number of large investors have recently bought and sold shares of EXEL. Farallon Capital Management LLC acquired a new stake in Exelixis during the second quarter valued at about $38,386,000. Janus Capital Management LLC acquired a new stake in Exelixis during the second quarter valued at about $25,702,000. Lord Abbett & CO. LLC acquired a new stake in Exelixis during the second quarter valued at about $22,690,000. Sector Gamma AS acquired a new stake in Exelixis during the second quarter valued at about $16,087,000. Finally, Point72 Asset Management L.P. acquired a new stake in Exelixis during the second quarter valued at about $15,818,000. 81.80% of the stock is owned by institutional investors.
A number of equities analysts have issued reports on the company. William Blair reaffirmed an “outperform” rating on shares of Exelixis in a report on Thursday, September 15th. Cowen and Company reaffirmed an “outperform” rating on shares of Exelixis in a report on Tuesday, June 7th. Leerink Swann reaffirmed an “outperform” rating and issued a $8.00 target price on shares of Exelixis in a report on Wednesday, May 25th. Stifel Nicolaus upped their target price on Exelixis from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, September 15th. Finally, Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $8.00 target price (up previously from $5.00) on shares of Exelixis in a report on Thursday, August 4th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $11.10.
Shares of Exelixis (NASDAQ:EXEL) opened at 14.74 on Thursday. The firm’s market cap is $3.39 billion. Exelixis has a 52 week low of $3.55 and a 52 week high of $14.95. The stock has a 50 day moving average price of $11.61 and a 200 day moving average price of $7.43.
Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Wednesday, August 3rd. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.11. The business had revenue of $36.25 million for the quarter, compared to the consensus estimate of $16.76 million. Exelixis’s quarterly revenue was up 353.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.22) EPS. Equities analysts expect that Exelixis will post ($0.63) earnings per share for the current year.
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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