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

Exelixis, Inc. (NASDAQ:EXEL) was the recipient of a large decline in short interest during the month of 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 short-interest ratio is currently 3.8 days. Approximately 2.8% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

EXEL has been the subject of several recent research reports. UBS Group started coverage on Exelixis in a report on Thursday, September 19th. They issued a “neutral” rating and a $30.00 price objective for the company. Guggenheim boosted their price objective on shares of Exelixis from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. TD Cowen lifted their price target on Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a report on Monday, October 21st. Stephens upped their price objective on Exelixis from $23.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler lifted their target price on Exelixis from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.44.

Insider Activity

In related news, EVP Dana Aftab sold 1,162 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total transaction of $36,486.80. Following the completion of the transaction, the executive vice president now owns 498,945 shares in the company, valued at $15,666,873. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeffrey Hessekiel sold 25,000 shares of Exelixis 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 sale, the executive vice president now owns 605,325 shares of the company’s stock, valued at approximately $15,968,473.50. This trade represents a 3.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 339,736 shares of company stock worth $11,508,610. 2.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Exelixis

Several hedge funds have recently added to or reduced their stakes in the stock. Farallon Capital Management LLC raised its stake in Exelixis by 1.6% during the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock worth $608,993,000 after acquiring an additional 424,000 shares in the last quarter. Renaissance Technologies LLC increased its position in Exelixis by 0.4% during the second quarter. Renaissance Technologies LLC now owns 15,163,066 shares of the biotechnology company’s stock worth $340,714,000 after buying an additional 61,350 shares during the period. LSV Asset Management boosted its holdings in shares of Exelixis by 107.7% in the second quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock valued at $129,511,000 after acquiring an additional 2,989,021 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Exelixis by 7.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,137,201 shares of the biotechnology company’s stock worth $115,434,000 after acquiring an additional 349,837 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Exelixis by 12.7% in the 2nd quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock valued at $73,425,000 after acquiring an additional 370,199 shares during the period. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Stock Down 0.8 %

Exelixis stock traded down $0.28 during trading on Tuesday, reaching $35.31. The stock had a trading volume of 224,177 shares, compared to its average volume of 2,062,215. Exelixis has a 52-week low of $19.20 and a 52-week high of $36.97. The business has a 50 day moving average price of $30.82 and a 200 day moving average price of $26.15. The stock has a market cap of $10.08 billion, a PE ratio of 22.81, a P/E/G ratio of 0.92 and a beta of 0.52.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The company had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $490.31 million. During the same period last year, the firm earned $0.10 earnings per share. Exelixis’s quarterly revenue was up 14.3% on a year-over-year basis. On average, equities analysts predict that Exelixis will post 1.69 EPS for the current fiscal year.

About Exelixis

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.