The stock experienced a rise in short interest of 8.25% between September 15, 2017 and September 29, 2017. Short shares grew from 18,464,387 to 19,986,804 over that period.
Boasting a price of $29.23, Exelixis Inc (NDAQ:EXEL) traded 25.69% higher on the day. The disclosure for this sale can be found here. Each unit, consisting of one share of common stock and a warrant to purchase 0.2 share of common stock will be sold for a purchase price of $3.00. The firm owned 70,965 shares of the biotechnology company's stock after buying an additional 5,584 shares during the period. Gisela Schwab, Pres Prod Dev & Med Aff & CMO disclosed the sale of 100,000 shares of (EXEL). That brings the Pres Prod Dev & Med Aff & CMO's holdings to $4,353,689 as recorded in a recent Form 4 SEC filing. Papadopoulos now owns $0 of stock per an SEC filing yesterday.
Additionally, here are a few investment firms who have increased or decreased their stake in (EXEL). Sonora Investment Management, LLC expanded its stake by buying 500 shares an increase of 9.1% from 06/30/2017 to 09/30/2017. That puts total institutional holdings at 236,108,468 shares, according to SEC filings. Cigna Investments Inc /new divested its investment by shedding 214 shares a decrease of 2.2% in the quarter. Meeder Asset Management Inc. acquired a new position in Exelixis during the first quarter worth approximately $170,000. The value of the position overall is down by 4.1%. Rhenman & Partners Asset Management Ab now holds 1,050,000 shares valued at $25,862,000.
As of the end of the quarter Vigilant Capital Management, LLC had sold 1,000 shares trimming its stake by 50.0%. Prudential Financial Inc. now owns 627,530 shares of the biotechnology company's stock valued at $15,456,000 after buying an additional 454,197 shares in the last quarter. The value of the position overall is up by 7.3%.
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Analysts have a mean recommendation of 2.30 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range). Stifel Nicolaus restated a "hold" rating and issued a $26.00 target price on shares of Exelixis in a research note on Thursday, September 7th.
On September 22 the company was downgraded from "Outperform" to "Market Perform" in a statement from Leerink Swann. The company has a market cap of $8.53 billion, a P/E ratio of 146.57 and a beta of 1.92. In the last earnings report the EPS was $0.20 and is estimated to be $0.27 for the current year with 293,904,000 shares now outstanding. Over the past month the firm's stock is -9.10%, -5.53% for the last quarter, 16.30% for the past six-months and 107.89% for the previous year.
With that said, researchers took a deep dive into the hotly debated question: is it too late to buy Exelixis, Inc. Exelixis is focusing its development and commercialization efforts primarily on COMETRIQ® (cabozantinib), its wholly-owned inhibitor of multiple receptor tyrosine kinases. The Company's CABOMETYX tablets are approved for previously treated advanced kidney cancer and COMETRIQ capsules are approved for progressive, metastatic medullary thyroid cancer. Another Exelixis-discovered compound, cobimetinib, a selective inhibitor of MEK, is being evaluated by Roche and Genentech (a member of the Roche Group) in a broad development program under a collaboration with Exelixis.