Exelixis Inc. (EXEL) Sees Large Increase in Short Interest
Exelixis Inc. (NASDAQ:EXEL) saw a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 19,196,254 shares, an increase of 11.5% from the October 14th total of 17,219,869 shares. Currently, 9.2% of the shares of the company are sold short. Based on an average daily volume of 3,735,470 shares, the short-interest ratio is presently 5.1 days.
Exelixis (NASDAQ:EXEL) opened at 16.75 on Friday. Exelixis has a one year low of $3.55 and a one year high of $17.00. The firm has a 50-day moving average of $12.69 and a 200 day moving average of $9.93. The company’s market capitalization is $4.80 billion.
Exelixis (NASDAQ:EXEL) last issued its earnings results on Thursday, November 3rd. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.09. The firm earned $62.19 million during the quarter, compared to the consensus estimate of $43.15 million. The company’s quarterly revenue was up 531.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.22) EPS. On average, equities analysts forecast that Exelixis will post ($0.47) EPS for the current fiscal year.
Several equities research analysts have recently issued reports on EXEL shares. Leerink Swann restated a “positive” rating and set a $15.00 price target on shares of Exelixis in a research note on Friday, October 7th. Piper Jaffray Cos. upgraded shares of Exelixis from a “neutral” rating to an “overweight” rating in a research note on Monday, October 10th. Stifel Nicolaus raised their price target on shares of Exelixis from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, September 15th. Cowen and Company restated an “outperform” rating on shares of Exelixis in a research note on Wednesday, October 12th. Finally, Deutsche Bank AG started coverage on shares of Exelixis in a research note on Thursday, November 3rd. They set a “buy” rating and a $17.00 price target for the company. Seven analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus target price of $14.10.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in 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 during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Exelixis by 7.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 5,770,563 shares of the biotechnology company’s stock valued at $73,806,000 after buying an additional 413,100 shares during the last quarter. Baker BROS. Advisors LP bought a new position in Exelixis during the third quarter valued at $63,048,000. Farallon Capital Management LLC bought a new position in Exelixis during the second quarter valued at $38,386,000. Finally, Janus Capital Management LLC bought a new position in Exelixis during the second quarter valued at $25,702,000. 84.45% of the stock is owned by hedge funds and other institutional investors.
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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