3 Reasons Behind Exelixis Stock's Big Bounce
After experiencing a dismal September and sliding quite a bit over the last few weeks after a rebound, Exelixis (NASDAQ: EXEL) stock enjoyed a big bounce on Thursday. The biotech announced its third-quarter results after the market closed on the prior day. And those results were very good, with Exelixis reporting 126% year-over-year revenue growth and trouncing Wall Street earnings estimates.
Obviously, the biotech's third-quarter performance generated plenty of enthusiasm among investors. There's more to the story, though. Here are three underlying reasons behind Exelixis stock's resurgence. (Quotes courtesy of S&P Global Market Intelligence.)
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Source: Fool.com
Exelixis Inc. Stock
€23.23
-0.260%
The stock is an absolute favorite of our community with 21 Buy predictions and no Sell predictions.
As a result the target price of 26 € shows a slightly positive potential of 11.92% compared to the current price of 23.23 € for Exelixis Inc..
