Insider Selling: Exelixis, Inc. (EXEL) Director Sells 100,000 Shares of Stock
Exelixis, Inc. (NASDAQ:EXEL) Director Lance Willsey sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $26.88, for a total transaction of $2,688,000.00. Following the sale, the director now directly owns 518,273 shares in the company, valued at approximately $13,931,178.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Exelixis, Inc. (NASDAQ EXEL) traded up 0.44% during trading on Thursday, hitting $27.23. 4,039,806 shares of the stock were exchanged. Exelixis, Inc. has a one year low of $10.04 and a one year high of $29.50. The stock has a market cap of $8.00 billion, a PE ratio of 137.53 and a beta of 1.97. The stock’s 50 day moving average price is $27.05 and its 200 day moving average price is $23.36.
Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.02. The business had revenue of $99.01 million for the quarter, compared to analyst estimates of $85.27 million. Exelixis had a return on equity of 80.43% and a net margin of 18.20%. The business’s revenue was up 173.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.15) EPS. Equities research analysts predict that Exelixis, Inc. will post $0.26 EPS for the current year.
Several hedge funds have recently bought and sold shares of EXEL. BlackRock Inc. raised its position in shares of Exelixis by 33,678.5% during the 1st quarter. BlackRock Inc. now owns 19,155,466 shares of the biotechnology company’s stock valued at $415,099,000 after acquiring an additional 19,098,757 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Exelixis by 12.8% during the 1st quarter. Vanguard Group Inc. now owns 23,735,071 shares of the biotechnology company’s stock valued at $514,339,000 after acquiring an additional 2,696,877 shares in the last quarter. Matrix Capital Management Company LP raised its position in shares of Exelixis by 8.8% during the 2nd quarter. Matrix Capital Management Company LP now owns 15,117,460 shares of the biotechnology company’s stock valued at $372,343,000 after acquiring an additional 1,225,000 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in Exelixis in the second quarter worth $28,689,000. Finally, Meditor Group Ltd increased its position in Exelixis by 5.5% in the second quarter. Meditor Group Ltd now owns 20,229,713 shares of the biotechnology company’s stock worth $498,258,000 after buying an additional 1,046,000 shares during the period. 79.20% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have weighed in on EXEL shares. Zacks Investment Research raised shares of Exelixis from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective on the stock in a report on Tuesday, July 4th. BidaskClub raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Friday, August 25th. Deutsche Bank AG cut shares of Exelixis from a “buy” rating to a “hold” rating and raised their price objective for the stock from $26.00 to $29.00 in a report on Thursday, August 3rd. SunTrust Banks, Inc. initiated coverage on shares of Exelixis in a research report on Thursday, July 13th. They set a “buy” rating and a $33.00 target price on the stock. Finally, Stifel Nicolaus restated a “hold” rating and set a $26.00 target price on shares of Exelixis in a research report on Thursday, September 7th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Exelixis presently has an average rating of “Buy” and a consensus price target of $25.82.
Exelixis Company Profile
Exelixis, Inc is a biopharmaceutical company. The Company is focused on discovery, development and commercialization of new medicines to manage care and outcomes for people with cancer. The Company’s cabozantinib product is an inhibitor of multiple tyrosine kinases, including MET, AXL, and VEGF receptors.
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