Exelixis, Inc. (NASDAQ:EXEL) Short Interest Update

Exelixis, Inc. (NASDAQ:EXEL) Short Interest Update

Exelixis, Inc. (NASDAQ:EXEL) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 16,974,702 shares, a decrease of 11.2% from the August 15th total of 19,123,110 shares. Based on an average daily volume of 3,485,720 shares, the short-interest ratio is presently 4.9 days. Approximately 5.8% of the shares of the company are sold short.

Shares of NASDAQ EXEL traded up $0.12 during midday trading on Tuesday, hitting $17.47. The company had a trading volume of 2,285,000 shares, compared to its average volume of 3,647,671. Exelixis has a twelve month low of $15.81 and a twelve month high of $32.50. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 34.55 and a beta of 1.94.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Wednesday, August 1st. The biotechnology company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.12. Exelixis had a net margin of 48.17% and a return on equity of 65.68%. The firm had revenue of $186.10 million during the quarter, compared to analysts’ expectations of $157.37 million. During the same quarter last year, the business earned $0.06 earnings per share. The business’s revenue for the quarter was up 88.0% compared to the same quarter last year. Research analysts forecast that Exelixis will post 1.03 earnings per share for the current fiscal year.

Several research firms have recently commented on EXEL. ValuEngine cut shares of Exelixis from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 4th. Stifel Nicolaus reduced their target price on shares of Exelixis from $29.00 to $25.00 and set a “hold” rating for the company in a research note on Wednesday, August 1st. Zacks Investment Research upgraded shares of Exelixis from a “hold” rating to a “strong-buy” rating and set a $25.00 target price for the company in a research note on Tuesday, July 31st. BidaskClub cut shares of Exelixis from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 11th. Finally, Morgan Stanley began coverage on shares of Exelixis in a research note on Monday, September 10th. They issued an “underweight” rating and a $19.00 target price for the company. Three research analysts have rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Exelixis has a consensus rating of “Buy” and a consensus price target of $30.70.

In related news, insider Gisela Schwab sold 22,500 shares of the stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $20.56, for a total transaction of $462,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director George A. Scangos sold 25,000 shares of the stock in a transaction on Monday, September 24th. The stock was sold at an average price of $16.85, for a total transaction of $421,250.00. Following the sale, the director now owns 1,561,981 shares of the company’s stock, valued at approximately $26,319,379.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 676,129 shares of company stock valued at $13,557,153. 4.80% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Exelixis by 16.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 20,599 shares of the biotechnology company’s stock valued at $443,000 after purchasing an additional 2,948 shares during the period. GWM Advisors LLC lifted its stake in shares of Exelixis by 10.0% in the first quarter. GWM Advisors LLC now owns 33,000 shares of the biotechnology company’s stock valued at $709,000 after purchasing an additional 3,000 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Exelixis by 23.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,165 shares of the biotechnology company’s stock valued at $402,000 after purchasing an additional 3,496 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Exelixis by 31.2% in the second quarter. Janney Montgomery Scott LLC now owns 17,220 shares of the biotechnology company’s stock valued at $371,000 after purchasing an additional 4,095 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Exelixis by 5.1% in the first quarter. Principal Financial Group Inc. now owns 91,006 shares of the biotechnology company’s stock valued at $2,016,000 after purchasing an additional 4,445 shares during the period. Hedge funds and other institutional investors own 80.90% of the company’s stock.

Exelixis Company Profile

Exelixis, Inc, a biotechnology company, engages in the discovery, development, and commercialization of new medicines to enhance care and outcomes for people with cancer. 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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