Exelixis (NASDAQ:EXEL) Trading 6% Higher

Exelixis, Inc. (NASDAQ:EXEL)’s stock price traded up 6% during mid-day trading on Wednesday . The company traded as high as $17.72 and last traded at $17.67, 4,103,055 shares changed hands during mid-day trading. An increase of 34% from the average session volume of 3,069,810 shares. The stock had previously closed at $16.67.

EXEL has been the topic of several research analyst reports. Zacks Investment Research downgraded Exelixis from a “hold” rating to a “sell” rating and set a $19.00 target price on the stock. in a research note on Thursday, October 3rd. TheStreet downgraded Exelixis from a “b-” rating to a “c” rating in a research note on Friday, November 22nd. BidaskClub downgraded Exelixis from a “hold” rating to a “sell” rating in a research note on Wednesday, August 28th. Piper Jaffray Companies dropped their target price on Exelixis from $45.00 to $35.00 in a research note on Thursday, October 31st. Finally, Bank of America initiated coverage on Exelixis in a research note on Wednesday, November 13th. They set a “buy” rating and a $22.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $25.11.

The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.80 and a current ratio of 6.89. The company has a 50 day simple moving average of $16.46 and a two-hundred day simple moving average of $19.11. The firm has a market cap of $5.05 billion, a PE ratio of 12.36, a P/E/G ratio of 2.19 and a beta of 1.78.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.12. The business had revenue of $271.70 million for the quarter, compared to the consensus estimate of $228.17 million. Exelixis had a return on equity of 25.55% and a net margin of 64.05%. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 EPS. As a group, research analysts predict that Exelixis, Inc. will post 0.97 earnings per share for the current fiscal year.

In other Exelixis news, CEO Michael Morrissey sold 37,227 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $19.20, for a total transaction of $714,758.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CMO Gisela Schwab sold 50,000 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $15.99, for a total value of $799,500.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 144,894 shares of company stock worth $2,539,716. Company insiders own 4.50% of the company’s stock.

A number of institutional investors have recently bought and sold shares of EXEL. Renaissance Technologies LLC grew its stake in Exelixis by 40.7% during the 2nd quarter. Renaissance Technologies LLC now owns 13,454,473 shares of the biotechnology company’s stock valued at $287,522,000 after purchasing an additional 3,889,200 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in Exelixis during the 2nd quarter valued at about $47,309,000. Orbimed Advisors LLC grew its stake in Exelixis by 39.7% during the 2nd quarter. Orbimed Advisors LLC now owns 3,912,900 shares of the biotechnology company’s stock valued at $83,619,000 after purchasing an additional 1,111,000 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Exelixis by 20.7% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,143,165 shares of the biotechnology company’s stock valued at $131,279,000 after purchasing an additional 1,051,976 shares during the last quarter. Finally, Prudential Financial Inc. grew its stake in Exelixis by 100.8% during the 2nd quarter. Prudential Financial Inc. now owns 1,709,957 shares of the biotechnology company’s stock valued at $36,542,000 after purchasing an additional 858,590 shares during the last quarter. Institutional investors and hedge funds own 77.03% of the company’s stock.

About Exelixis (NASDAQ:EXEL)

Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. The company's products include CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of patients with progressive and metastatic medullary thyroid cancer.

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