Shares of Exelixis, Inc. (NASDAQ:EXEL) were up NaN on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $26.68 and last traded at $0.00. Approximately 5,563,834 shares changed hands during mid-day trading, an increase of Infinity from the average daily volume of 0 shares. The biotechnology company reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.18. Exelixis had a return on equity of 80.43% and a net margin of 18.20%. The company had revenue of $152.50 million during the quarter, compared to analysts’ expectations of $104.91 million. During the same period in the prior year, the company earned ($0.04) EPS. Exelixis’s revenue was up 145.2% compared to the same quarter last year.

A number of research analysts have recently commented on EXEL shares. Zacks Investment Research upgraded Exelixis from a “hold” rating to a “strong-buy” rating and set a $29.00 price target for the company in a research note on Tuesday, July 11th. SunTrust Banks, Inc. started coverage on Exelixis in a research note on Thursday, July 13th. They issued a “buy” rating and a $33.00 price target for the company. Cann reiterated a “hold” rating on shares of Exelixis in a research note on Thursday, July 20th. William Blair reaffirmed an “outperform” rating on shares of Exelixis in a research report on Thursday, July 27th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $26.00 target price on shares of Exelixis in a research report on Thursday, August 3rd. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $31.38.

In other Exelixis news, insider Gisela Schwab sold 100,000 shares of the stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $23.79, for a total transaction of $2,379,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Patrick J. Haley sold 60,640 shares of the stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $27.21, for a total value of $1,650,014.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 970,152 shares of company stock valued at $25,923,457. 5.10% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the business. FMR LLC grew its holdings in Exelixis by 2.0% during the 2nd quarter. FMR LLC now owns 43,748,695 shares of the biotechnology company’s stock worth $1,077,530,000 after acquiring an additional 857,452 shares during the period. Vanguard Group Inc. grew its holdings in Exelixis by 7.2% during the 2nd quarter. Vanguard Group Inc. now owns 25,441,964 shares of the biotechnology company’s stock worth $626,635,000 after acquiring an additional 1,706,893 shares during the period. Meditor Group Ltd grew its holdings in Exelixis by 5.5% during the 2nd quarter. Meditor Group Ltd now owns 20,229,713 shares of the biotechnology company’s stock worth $498,258,000 after acquiring an additional 1,046,000 shares during the period. Matrix Capital Management Company LP grew its holdings in Exelixis by 8.8% during the 2nd quarter. Matrix Capital Management Company LP now owns 15,117,460 shares of the biotechnology company’s stock worth $372,343,000 after acquiring an additional 1,225,000 shares during the period. Finally, State Street Corp grew its holdings in Exelixis by 2.1% during the 1st quarter. State Street Corp now owns 7,710,338 shares of the biotechnology company’s stock worth $167,087,000 after acquiring an additional 157,199 shares during the period. Hedge funds and other institutional investors own 78.71% of the company’s stock.

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About Exelixis

Exelixis, Inc is a biopharmaceutical company. The Company is focused on discovery, development and commercialization of new medicines to manage care and outcomes for people with cancer. The Company’s cabozantinib product is an inhibitor of multiple tyrosine kinases, including MET, AXL, and VEGF receptors.

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