Exelixis, Inc. (NASDAQ:EXEL) Sees Significant Decrease in Short Interest

Exelixis, Inc. (NASDAQ:EXEL) was the recipient of a significant decrease in short interest in June. As of June 30th, there was short interest totalling 9,190,000 shares, a decrease of 7.5% from the June 15th total of 9,940,000 shares. Approximately 3.2% of the company’s stock are sold short. Based on an average daily volume of 1,890,000 shares, the days-to-cover ratio is presently 4.9 days.

Exelixis Stock Up 0.6 %

Exelixis stock traded up $0.13 during trading hours on Thursday, hitting $22.64. 306,457 shares of the company traded hands, compared to its average volume of 2,073,170. The firm’s 50-day simple moving average is $21.73 and its two-hundred day simple moving average is $22.21. The firm has a market cap of $6.86 billion, a P/E ratio of 35.08, a P/E/G ratio of 0.56 and a beta of 0.54. Exelixis has a 1-year low of $18.64 and a 1-year high of $24.34.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.16). The firm had revenue of $425.23 million for the quarter, compared to the consensus estimate of $461.04 million. Exelixis had a return on equity of 8.85% and a net margin of 11.10%. Exelixis’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.12 EPS. On average, equities research analysts predict that Exelixis will post 1.14 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Stephens assumed coverage on shares of Exelixis in a research note on Tuesday, May 14th. They issued an “equal weight” rating and a $23.00 target price for the company. Barclays downgraded Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 target price for the company. in a research note on Thursday, April 11th. TD Cowen upped their target price on Exelixis from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. StockNews.com upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 13th. Finally, William Blair reissued an “outperform” rating on shares of Exelixis in a report on Wednesday, May 1st. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $26.13.

Insider Activity at Exelixis

In related news, Director Jack L. Wyszomierski sold 10,923 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $21.37, for a total value of $233,424.51. Following the completion of the sale, the director now directly owns 338,948 shares of the company’s stock, valued at approximately $7,243,318.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Jack L. Wyszomierski sold 8,287 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $22.00, for a total value of $182,314.00. Following the sale, the director now directly owns 349,499 shares of the company’s stock, valued at approximately $7,688,978. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jack L. Wyszomierski sold 10,923 shares of Exelixis stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $21.37, for a total value of $233,424.51. Following the transaction, the director now owns 338,948 shares of the company’s stock, valued at $7,243,318.76. The disclosure for this sale can be found here. Insiders sold 30,896 shares of company stock valued at $660,677 over the last three months. 2.85% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Alaska Permanent Fund Corp boosted its holdings in Exelixis by 1.2% during the first quarter. Alaska Permanent Fund Corp now owns 53,239 shares of the biotechnology company’s stock worth $1,263,000 after buying an additional 617 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Exelixis by 232.6% in the 4th quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 728 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Exelixis by 10.8% during the fourth quarter. Quadrant Capital Group LLC now owns 7,709 shares of the biotechnology company’s stock worth $185,000 after purchasing an additional 750 shares during the period. Banque Cantonale Vaudoise lifted its holdings in shares of Exelixis by 11.5% during the first quarter. Banque Cantonale Vaudoise now owns 7,555 shares of the biotechnology company’s stock valued at $179,000 after purchasing an additional 781 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Exelixis by 0.5% during the fourth quarter. Jennison Associates LLC now owns 164,200 shares of the biotechnology company’s stock valued at $3,939,000 after purchasing an additional 815 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

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.