EXEL Stock – Quick Win: 56.52% Return in 14 Days

EXEL Stock

On July 20th, 2015, The I Know First algorithm gave a bullish signal of 23.62 for the ticker EXEL (Exelixis), which had a strong predictability indicator of 0.39. In accordance with the algorithm’s prediction, Exelixis spiked 56.52% in the following two weeks.

EXEL Stock

Exelixis, Inc. (EXEL) is a genomic-based discovery company located in South San Francisco, California. It focuses on the development of drugs, crop protection, and plant biotechnology. The company’s first commercial product Cometriq, a treatment approved by the U.S. Food and Drug Administration (FDA) for medullary thyroid cancer with clinical activity in several other types of metastatic cancer, received its initial regulatory approval in late 2012. It also has a portfolio of other compounds.

The company’s shares surged an astonishing 50% two weeks ago after it announced positive results about its main cancer drug Cometriq. The statement said that the drug met its principal endpoint of improving progression-free survival for kidney cancer. In addition, The patients that participated in the trial have shown notably better results than the ones receiving Novartis’ Afinitor. Exelixis is still waiting for a regulatory approval as a second-line treatment for kidney cancer. If this will be the case, then Cometriq will probably have a huge increase in sales, which would give them an enormous boost as sales have been rather poor so far.

Exelixis jumped another 6.81% or 0.39 points to $6.12 on Monday and was one of the biggest gainers of the day. The stock was hitting $6.31 at a peak level and $5.76 at the lowest level. The company has now a market cap of $1.35 billion. Prices are still expected to increase and research firm Zachs has rated Exelixis it at 2, while 4 Wall Street analysts did the same.