Investors of Exelixis, Inc. (NASDAQ:EXEL) were quite disappointed on Friday, when the stock tumbled over 5.5% on slightly above average volume. Today though, things are looking up for the biopharmaceutical company that is focused on developing and commercializing therapies to improve cancer treatment. In pre-market trading, shares of the stock are up 4.73%.
Part of this move certainly is because of an upgrade that was just issued by investment analyst Leerink Swann from Market Perform to Outperform. This comes after William Blair reiterated their “buy” rating just last week.
2016 should be an interesting year for Exelixis, Inc. (NASDAQ:EXEL), as they have beaten the consensus EPS rating in each of the last two quarters. The stock closed at $4.23 during the last trading session. It is up 18.82% since June 12, 2015 and is uptrending. It has outperformed the S&P500 by 27.69%.
The institutional sentiment increased to 2.15 in Q2 2015. It’s up 1.17, from 0.98 in 2015Q2. The ratio improved, as 23 funds sold all their Exelixis, Inc. shares they owned while 18 reduced their positions. 37 funds bought stakes while 51 increased their total positions. Institutions now own 164.06 million shares which is 39.93% more than the previous share count of 117.24 million in 2015Q2.
Meditor Group Ltd holds 65.29% of its total portfolio in Exelixis, Inc., equating to 22.07 million shares. Longwood Capital Partners Llc owns 1.88 million shares representing 6.11% of their total US portfolio. Moreover, Great Point Partners Llc has 3.53% of their total portfolio invested in the company, equating to 1.59 million shares. The Cayman Islands-based Polygon Management Ltd. has a total of 1.25% of their portfolio invested in the stock. Nea Management Company Llc, a Maryland-based fund reported 2.21 million shares owned.
Since October 13, 2015, the stock had 0 buys, and 2 selling transactions for a total of $2.06 million in net activity. Lamb Peter sold 51,549 shares worth $298,984.
Exelixis Inc. is a biopharmaceutical company. The company has a market cap of $961.13 million. The Firm is engaged in developing small molecule therapies for the treatment of cancer. It currently has negative earnings. The Firm is focusing on resources development and commercialization of COMETRIQ for the treatment of progressive, metastatic medullary thyroid cancer (MTC) in the United States.