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

Exelixis, Inc. (NASDAQ:EXEL) was the target of a significant decline in short interest in November. As of November 15th, there was short interest totalling 7,900,000 shares, a decline of 13.4% from the October 31st total of 9,120,000 shares. Based on an average daily trading volume, of 2,070,000 shares, the days-to-cover ratio is presently 3.8 days. Currently, 2.8% of the company’s stock are sold short.

Insider Activity

In other news, EVP Dana Aftab sold 96,986 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $35.00, for a total value of $3,394,510.00. Following the transaction, the executive vice president now directly owns 498,945 shares of the company’s stock, valued at $17,463,075. The trade was a 16.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey Hessekiel sold 25,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $26.38, for a total value of $659,500.00. Following the transaction, the executive vice president now directly owns 605,325 shares in the company, valued at approximately $15,968,473.50. This represents a 3.97 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 339,736 shares of company stock worth $11,508,610. 2.85% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in Exelixis during the third quarter worth about $30,000. Brooklyn Investment Group acquired a new stake in shares of Exelixis in the third quarter valued at approximately $42,000. Park Place Capital Corp bought a new stake in shares of Exelixis in the second quarter valued at approximately $45,000. GAMMA Investing LLC grew its position in Exelixis by 107.9% during the second quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock worth $45,000 after buying an additional 1,041 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in Exelixis during the 3rd quarter worth $61,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Trading Down 0.6 %

NASDAQ:EXEL traded down $0.21 on Tuesday, hitting $35.38. The company’s stock had a trading volume of 881,477 shares, compared to its average volume of 2,065,155. Exelixis has a one year low of $19.20 and a one year high of $36.97. The stock has a fifty day moving average of $31.00 and a two-hundred day moving average of $26.25. The firm has a market capitalization of $10.10 billion, a P/E ratio of 22.78, a price-to-earnings-growth ratio of 0.92 and a beta of 0.52.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The business had revenue of $539.50 million for the quarter, compared to analyst estimates of $490.31 million. During the same quarter in the prior year, the business earned $0.10 EPS. Exelixis’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Exelixis will post 1.69 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EXEL. Guggenheim increased their price target on Exelixis from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. JMP Securities reissued a “market outperform” rating and issued a $29.00 price target on shares of Exelixis in a research note on Friday, October 11th. TD Cowen increased their price target on Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Stifel Nicolaus increased their price target on Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company upped their price objective on shares of Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $31.44.

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.