Exelixis, Inc. (EXEL) Shares Gap Up to $25.97

Shares of Exelixis, Inc. (NASDAQ:EXEL) gapped up prior to trading on Monday . The stock had previously closed at $25.36, but opened at $25.97. Exelixis shares last traded at $26.24, with a volume of 4,520,459 shares changing hands.

EXEL has been the subject of several research reports. TheStreet upgraded shares of Exelixis from a “c” rating to a “b-” rating in a research report on Monday, August 7th. BidaskClub upgraded shares of Exelixis from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. SunTrust Banks, Inc. initiated coverage on shares of Exelixis in a research report on Thursday, July 13th. They issued a “buy” rating and a $33.00 price target for the company. Piper Jaffray Companies reiterated a “buy” rating and issued a $29.00 price target on shares of Exelixis in a research report on Thursday, August 3rd. Finally, Zacks Investment Research downgraded shares of Exelixis from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 28th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $25.57.

The stock’s 50-day moving average is $27.13 and its 200 day moving average is $23.24. The stock has a market cap of $7.71 billion, a P/E ratio of 132.53 and a beta of 1.97.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The company had revenue of $99.01 million for the quarter, compared to analysts’ expectations of $85.27 million. Exelixis had a return on equity of 80.43% and a net margin of 18.20%. The firm’s quarterly revenue was up 173.1% compared to the same quarter last year. During the same period last year, the business posted ($0.15) earnings per share. Equities analysts anticipate that Exelixis, Inc. will post $0.26 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. Navellier & Associates Inc bought a new stake in Exelixis in the second quarter valued at $1,054,000. Public Employees Retirement System of Ohio lifted its stake in Exelixis by 123.7% in the second quarter. Public Employees Retirement System of Ohio now owns 233,322 shares of the biotechnology company’s stock valued at $5,747,000 after buying an additional 129,008 shares during the last quarter. Verition Fund Management LLC bought a new stake in Exelixis in the second quarter valued at $473,000. California State Teachers Retirement System lifted its stake in Exelixis by 14.9% in the second quarter. California State Teachers Retirement System now owns 515,076 shares of the biotechnology company’s stock valued at $12,686,000 after buying an additional 66,783 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Exelixis by 1,923.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 263,086 shares of the biotechnology company’s stock valued at $6,480,000 after buying an additional 250,086 shares during the last quarter. Institutional investors own 79.20% of the company’s stock.

WARNING: “Exelixis, Inc. (EXEL) Shares Gap Up to $25.97” was published by Markets Daily and is the sole property of of Markets Daily. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States and international copyright laws. The original version of this piece can be accessed at https://www.themarketsdaily.com/2017/09/12/exelixis-inc-exel-shares-gap-up-to-25-97.html.

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.

Receive News & Ratings for Exelixis Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exelixis Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply