Exelixis (EXEL) Stock Gains on Q3 Results

NEW YORK (TheStreet) -- Shares of Exelixis  (EXEL) were soaring 14.71% to $11.70 on heavy trading volume late Friday afternoon after posting better-than-expected results for the 2016 third quarter.

After yesterday's market close, the San Francisco-based biopharmaceutical company reported a loss of 4 cents per share, narrower than the FactSet consensus of a loss of 12 cents per share. 

Revenue rose to $62.2 million from $9.9 million a year ago, topping analysts' estimates of $45.5 million.

Sales were helped as Exelixis's Cabometyx and Cometriq treatments generated revenue of $31.2 million and $11.5 million, respectively.

About 8.71 million shares of Exelixis have been traded so far today, well above the company's average trading volume of roughly 7.02 million shares a day.

Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D-.

Exelixis's weaknesses include its feeble growth in its earnings per share.

You can view the full analysis from the report here: EXEL

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author. 

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