Price Target Update on Exelixis (NASDAQ:EXEL)

Exelixis (NASDAQ:EXEL) : The consensus price target for Exelixis (NASDAQ:EXEL) is $7.67 for the short term with a standard deviation of $2.52. The most optimist securities analyst among the 3 who monitor the stock believes that the stock can reach $10, however, the pessimist price target for the company is $5.

Other Equity analysts have also commented on the company shares. Stifel Nicolaus upgrades their rating on the shares of Exelixis (NASDAQ:EXEL). The current rating of the shares is Buy. Earlier, the shares were rated a Hold by the brokerage firm. The rating by the firm was issued on April 4, 2016.

Exelixis (NASDAQ:EXEL): stock turned positive on Thursday. Though the stock opened at $7.83, the bulls momentum made the stock top out at $7.88 level for the day. The stock recorded a low of $7.74 and closed the trading day at $7.85, in the green by 1.42%. The total traded volume for the day was 4,315,232. The stock had closed at $7.74 in the previous days trading.

The company shares have rallied 102.62% from its 1 Year high price. On Jun 22, 2016, the shares registered one year high at $7.86 and the one year low was seen on Jul 6, 2015. The 50-Day Moving Average price is $6.30 and the 200 Day Moving Average price is recorded at $4.92. On the companys insider trading activities, The Securities and Exchange Commission has divulged in a Form 4 filing that the director of Exelixis, Inc., Willsey Lance had purchased shares worth of $297,600 in a transaction dated on May 9, 2016. A total of 60,000 shares were purchased at a price of $4.96 per share. The information is based on open market trades at the market prices.Option exercises are not covered.

Exelixis Inc. is a biopharmaceutical company. The Company is engaged in developing small molecule therapies for the treatment of cancer. The Company is focusing on resources development and commercialization of COMETRIQ (cabozantinib) for the treatment of progressive, metastatic medullary thyroid cancer (MTC) in the United States. The Companys other programs include metastatic renal cell carcinoma (mRCC), a phase III trial comparing cabozantinib to everolimus in patients with mRCC who have experienced disease progression following treatment with at least one prior VEGFR TKI; CELESTIAL, a phase III trial comparing cabozantinib with placebo in patients with advanced hepatocellular cancer (HCC) who have previously been treated with sorafenib; NSCLC (non-small cell lung cancer); mCRPC (metastatic castration-resistant prostate cancer) and XL888, a small molecule oral inhibitor of Heat Shock Protein 90 (HSP90).

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