Insider Selling: Exelixis, Inc. (NASDAQ:EXEL) EVP Sells 41,588 Shares of Stock

Exelixis, Inc. (NASDAQ:EXEL) EVP Patrick J. Haley sold 41,588 shares of Exelixis stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.36, for a total value of $1,428,963.68. Following the completion of the transaction, the executive vice president now owns 288,665 shares in the company, valued at $9,918,529.40. This trade represents a 12.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Exelixis Trading Up 0.5 %

Exelixis stock opened at $34.83 on Friday. Exelixis, Inc. has a 1-year low of $19.20 and a 1-year high of $36.60. The firm’s fifty day simple moving average is $29.72 and its 200-day simple moving average is $25.48. The company has a market capitalization of $9.95 billion, a P/E ratio of 22.33, a P/E/G ratio of 0.87 and a beta of 0.51.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $539.50 million during the quarter, compared to analysts’ expectations of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. Exelixis’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 earnings per share. On average, equities research analysts predict that Exelixis, Inc. will post 1.68 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on EXEL. JMP Securities reissued a “market outperform” rating and set a $29.00 price target on shares of Exelixis in a research report on Friday, October 11th. Stifel Nicolaus lifted their price target on shares of Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Truist Financial increased their price target on Exelixis from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $34.00 price objective on shares of Exelixis in a report on Wednesday, October 30th. Finally, Oppenheimer restated an “outperform” rating and issued a $29.00 price target on shares of Exelixis in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Exelixis currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.44.

Institutional Trading of Exelixis

A number of hedge funds have recently bought and sold shares of the stock. V Square Quantitative Management LLC bought a new position in Exelixis during the third quarter worth about $30,000. Brooklyn Investment Group bought a new position in Exelixis in the 3rd quarter worth approximately $42,000. Park Place Capital Corp bought a new position in Exelixis in the second quarter valued at about $45,000. GAMMA Investing LLC lifted its holdings in Exelixis by 107.9% in the second quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 1,041 shares during the period. Finally, EntryPoint Capital LLC grew its position in shares of Exelixis by 537.2% during the 1st quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock worth $49,000 after buying an additional 1,746 shares during the period. 85.27% of the stock is owned by institutional investors.

About Exelixis

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.