Exelixis Inc. (EXEL) Short Interest Update
Exelixis Inc. (NASDAQ:EXEL) saw a significant decrease in short interest in September. As of September 30th, there was short interest totalling 20,430,672 shares, a decrease of 8.6% from the September 15th total of 22,354,442 shares. Based on an average daily volume of 10,187,708 shares, the days-to-cover ratio is currently 2.0 days. Approximately 9.7% of the shares of the stock are short sold.
Exelixis (NASDAQ:EXEL) opened at 11.91 on Friday. The firm’s market cap is $2.74 billion. The company has a 50-day moving average price of $12.74 and a 200 day moving average price of $8.44. Exelixis has a 12 month low of $3.55 and a 12 month high of $15.58.
Exelixis (NASDAQ:EXEL) last announced its earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.11. The business had revenue of $36.25 million for the quarter, compared to analyst estimates of $16.76 million. The firm’s revenue was up 353.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.22) earnings per share. Equities research analysts anticipate that Exelixis will post ($0.61) EPS for the current year.
In other news, insider Gisela Schwab sold 42,338 shares of the firm’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 transaction, the insider now owns 174,354 shares in the company, valued at $1,917,894. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.90% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Exelixis by 2.3% in the second quarter. Vanguard Group Inc. now owns 16,457,824 shares of the biotechnology company’s stock valued at $128,536,000 after buying an additional 375,754 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Exelixis by 0.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,357,463 shares of the biotechnology company’s stock valued at $41,842,000 after buying an additional 28,145 shares in the last quarter. Farallon Capital Management LLC acquired a new stake in shares of Exelixis during the second quarter valued at $38,386,000. Janus Capital Management LLC acquired a new stake in shares of Exelixis during the second quarter valued at $25,702,000. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Exelixis during the second quarter valued at $22,690,000. Institutional investors own 81.80% of the company’s stock.
Several research firms have recently weighed in on EXEL. William Blair restated an “outperform” rating on shares of Exelixis in a research report on Thursday, September 15th. Cowen and Company restated a “buy” rating on shares of Exelixis in a research report on Wednesday, August 10th. S&P Equity Research lifted their price objective on Exelixis from $13.41 to $15.57 in a research report on Wednesday, September 28th. Leerink Swann reiterated an “outperform” rating and set a $12.00 price objective on shares of Exelixis in a research report on Thursday, August 18th. Finally, Zacks Investment Research upgraded Exelixis from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research report on Tuesday, September 13th. Six equities research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average price target of $13.51.
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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