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

Exelixis, Inc. (NASDAQ:EXEL) saw a large increase in short interest in April. As of April 15th, there was short interest totalling 8,620,000 shares, an increase of 26.2% from the March 31st total of 6,830,000 shares. Currently, 3.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,240,000 shares, the days-to-cover ratio is currently 3.8 days.

Wall Street Analysts Forecast Growth

EXEL has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their price target on shares of Exelixis from $23.00 to $25.00 and gave the company a “hold” rating in a research report on Friday, February 2nd. Barclays downgraded Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 target price on the stock. in a report on Thursday, April 11th. William Blair reaffirmed an “outperform” rating on shares of Exelixis in a report on Friday, January 26th. JMP Securities reissued a “market outperform” rating and issued a $27.00 price objective on shares of Exelixis in a research note on Wednesday, April 10th. Finally, TheStreet upgraded Exelixis from a “c+” rating to a “b-” rating in a research note on Monday, March 18th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $26.29.

Exelixis Stock Up 0.7 %

Shares of Exelixis stock traded up $0.17 during trading on Friday, reaching $23.70. 1,560,811 shares of the company were exchanged, compared to its average volume of 1,843,234. The business has a 50-day moving average price of $22.80 and a 200-day moving average price of $22.19. The firm has a market capitalization of $6.99 billion, a price-to-earnings ratio of 37.03, a P/E/G ratio of 0.61 and a beta of 0.54. Exelixis has a twelve month low of $18.08 and a twelve month high of $24.34.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, February 6th. The biotechnology company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. The firm had revenue of $479.65 million for the quarter, compared to analysts’ expectations of $481.23 million. Exelixis had a return on equity of 8.57% and a net margin of 11.35%. On average, equities research analysts forecast that Exelixis will post 1.23 EPS for the current fiscal year.

Insider Activity

In other Exelixis news, Director David Edward Johnson bought 190,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were acquired at an average price of $20.70 per share, with a total value of $3,933,000.00. Following the completion of the purchase, the director now directly owns 1,100,730 shares in the company, valued at approximately $22,785,111. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Exelixis news, EVP Patrick J. Haley sold 47,020 shares of Exelixis stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $21.45, for a total transaction of $1,008,579.00. Following the completion of the transaction, the executive vice president now directly owns 384,866 shares of the company’s stock, valued at $8,255,375.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David Edward Johnson bought 190,000 shares of the stock in a transaction dated Wednesday, February 21st. The stock was purchased at an average cost of $20.70 per share, for a total transaction of $3,933,000.00. Following the acquisition, the director now owns 1,100,730 shares in the company, valued at approximately $22,785,111. The disclosure for this purchase can be found here. Corporate insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of EXEL. Norges Bank bought a new position in shares of Exelixis during the fourth quarter worth $73,449,000. Los Angeles Capital Management LLC lifted its holdings in Exelixis by 948.3% during the first quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock worth $58,240,000 after acquiring an additional 2,220,150 shares in the last quarter. Acadian Asset Management LLC grew its stake in Exelixis by 1,043.9% in the third quarter. Acadian Asset Management LLC now owns 1,957,848 shares of the biotechnology company’s stock valued at $42,750,000 after acquiring an additional 1,786,687 shares during the period. abrdn plc bought a new stake in shares of Exelixis in the fourth quarter worth about $15,997,000. Finally, California Public Employees Retirement System raised its position in shares of Exelixis by 42.3% during the third quarter. California Public Employees Retirement System now owns 1,771,128 shares of the biotechnology company’s stock worth $38,699,000 after purchasing an additional 526,814 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis Company Profile

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers 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 progressive and metastatic medullary thyroid cancer.