Exelixis Surging On Strong Volume

Exelixis, Inc. EXEL is up more than 7% on strong volume. There is no specific news on the name, although some are speculating on a buyout coming in the name, but that is an unfounded rumor with no basis. At last check, volume was over 1.9 million shares, whereas average daily volume for Exelixis is around 1.4 million shares. Exelixis engages in the discovery, development, and commercialization of small molecule drugs for the treatment of cancer, metabolic, and cardiovascular disorders.