The company is trading up by 2.44% since yesterday’s close of $25.42. It is currently trading at $26.04 which is a tad above the 50 day moving average which is $20.79 and which is just over the 200 day moving average of $20.23. The 50 day moving average went up $5.12 or +24.60% and the 200 day average was up $5.68.
Traders are more bullish on shares of the company recently if you pay attention to the decrease in short interest. The stock experienced a fall in short interest between May 31, 2017 and May 15, 2017 of -3.61%. Short shares fell 721,351 over that timeframe. The short-interest ratio decreased to 4.2 and the percentage of shorted shares is 0.07% as of May 15.
Here is the rundown on market activity for Exelixis, Inc. (NASDAQ:EXEL). Patrick J. Haley, Sr. Vice President, Commercial let go of $92,300 worth of shares at an average price of $18.46 on Tue the 30th. Haley now owns $1,886,483 of stock as recorded in a recent Form 4 SEC filing. Carl B. Feldbaum, Director sold $711,881 worth of shares at an average price of $21.58 on Mon the 15th. That brings the Director’s holdings to $749,538 per an SEC filing yesterday.
President and CEO Michael Morrissey sold 211,300 shares at a price of $21.81 on May 10th. That brings Morrissey’s holdings to $1,308,600 as reported to the SEC.
Exelixis, Inc., launched on November 15, 1994, is a biopharmaceutical company. The Company is focused on discovery, development and commercialization of new medicines to manage care and outcomes for people with cancer. Its cabozantinib product is an inhibitor of multiple tyrosine kinases, including MET, AXL, and VEGF receptors. Its CABOMETYX tablets are approved for previously treated advanced kidney cancer and COMETRIQ capsules are approved for progressive, metastatic medullary thyroid cancer. The third product, Cotellic, is a formulation of cobimetinib, a selective inhibitor of MEK is approved as part of a combination regimen to treat advanced melanoma. Both cabozantinib and cobimetinib have shown potential in a range of forms of cancer and are the subjects of broad clinical development programs..
These firms have also modified their investment in EXEL. As of quarter end Rhenman & Partners Asset Management Ab had acquired 420,000 shares growing its stake by 66.7%. The value of the investment in EXEL went from $13,652,000 to $25,862,000 a change of $12,210,000 for the reporting period. Bank Of Montreal /can/ grew its investment by buying 75,199 shares an increase of 21,182.8% from 03/31/2017 to 06/30/2017. Bank Of Montreal /can/ now holds 75,554 shares with a value of $1,861,000. The total value of its holdings increased 23,162.5%.
Morgan Stanley divested its position by shedding 1,422 shares a decrease of 12.4% in the quarter. Morgan Stanley currently owns 10,058 shares valued at $218,000. The value of the position overall is up by 27.5%. Goldman Sachs Group Inc downsized its ownership by shedding 495 shares a decrease of 11.8%. Goldman Sachs Group Inc claims 3,692 shares worth $80,000. The value of the position overall is up by 29.0%.
Equity analyst Deutsche Bank started covering the stock with a rating of “Buy”. On April 4, 2016 the stock rating was rated “Buy” according to a Stifel Nicolaus report up from the previous “Hold” rating.
On January 19 the company was set at “Outperform” by Leerink Swann which was a boost from the previous “Market Perform” rating. On September 2 the company was downgraded from “Buy” to “Hold” with a current price target of $0.00 in a report issued by Stifel Nicolaus.
On September 2 the stock rating was downgraded to “Market Perform” from “Outperform” in a statement from Cowen & Company. Piper Jaffray downgraded the stock and lowered the price target on September 2 changing the price target from $11.00 to $2.50 and changing the rating from “Overweight” to “Neutral”.
The P/E ratio is 1233.81 and the market value is 7.58B. As of the latest earnings report the EPS was $0.02 and is expected to be $0.18 for the current year with 292,512,000 shares presently outstanding. Next quarter’s EPS is estimated at $0.05 with next year’s EPS anticipated to be $0.54.