Exelixis, Inc. (NASDAQ:EXEL) Short Interest Down 6.8% in March

Exelixis, Inc. (NASDAQ:EXELGet Free Report) was the target of a large drop in short interest in March. As of March 15th, there was short interest totalling 8,250,000 shares, a drop of 6.8% from the February 29th total of 8,850,000 shares. Approximately 2.8% of the company’s stock are sold short. Based on an average daily volume of 2,290,000 shares, the days-to-cover ratio is currently 3.6 days.

Insider Activity

In other news, Director Alan M. Garber sold 19,205 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $24.01, for a total value of $461,112.05. Following the sale, the director now directly owns 35,703 shares in the company, valued at approximately $857,229.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Alan M. Garber sold 19,205 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $24.01, for a total value of $461,112.05. Following the sale, the director now directly owns 35,703 shares in the company, valued at approximately $857,229.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Edward Johnson bought 190,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was bought at an average cost of $20.70 per share, for a total transaction of $3,933,000.00. Following the completion of the transaction, the director now directly owns 1,100,730 shares in the company, valued at $22,785,111. The disclosure for this purchase can be found here. Company insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its holdings in Exelixis by 4.9% in the first quarter. BlackRock Inc. now owns 36,214,174 shares of the biotechnology company’s stock valued at $702,917,000 after acquiring an additional 1,683,880 shares in the last quarter. Vanguard Group Inc. increased its stake in Exelixis by 0.7% during the third quarter. Vanguard Group Inc. now owns 31,284,832 shares of the biotechnology company’s stock valued at $490,546,000 after purchasing an additional 220,099 shares during the last quarter. State Street Corp increased its stake in Exelixis by 3.4% during the third quarter. State Street Corp now owns 13,019,900 shares of the biotechnology company’s stock valued at $204,152,000 after purchasing an additional 423,520 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Exelixis by 4.4% during the first quarter. Geode Capital Management LLC now owns 4,768,099 shares of the biotechnology company’s stock worth $92,549,000 after acquiring an additional 201,810 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of Exelixis by 24.1% during the first quarter. First Trust Advisors LP now owns 4,752,734 shares of the biotechnology company’s stock worth $92,251,000 after acquiring an additional 924,189 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Stock Performance

Exelixis stock opened at $23.34 on Wednesday. Exelixis has a 1 year low of $18.08 and a 1 year high of $24.34. The firm has a 50 day moving average price of $22.08 and a 200 day moving average price of $22.02. The company has a market cap of $7.08 billion, a price-to-earnings ratio of 36.47, a PEG ratio of 0.62 and a beta of 0.54.

Exelixis (NASDAQ:EXELGet Free Report) last released its quarterly earnings data on Tuesday, February 6th. The biotechnology company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.02. Exelixis had a net margin of 11.35% and a return on equity of 8.57%. The company had revenue of $479.65 million during the quarter, compared to the consensus estimate of $481.23 million. Sell-side analysts predict that Exelixis will post 1.22 EPS for the current year.

Wall Street Analyst Weigh In

EXEL has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their target price on shares of Exelixis from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Barclays raised their target price on shares of Exelixis from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. JMP Securities reiterated a “market outperform” rating and issued a $27.00 price objective on shares of Exelixis in a research note on Thursday, December 14th. TheStreet upgraded shares of Exelixis from a “c+” rating to a “b-” rating in a research note on Monday, March 18th. Finally, Stifel Nicolaus raised their price objective on shares of Exelixis from $23.00 to $25.00 and gave the company a “hold” rating in a research note on Friday, February 2nd. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.29.

View Our Latest Stock Report on Exelixis

About Exelixis

(Get Free Report)

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.

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