Michael Morrissey Sells 300,000 Shares of Exelixis, Inc. (EXEL) Stock
Exelixis, Inc. (NASDAQ:EXEL) insider Michael Morrissey sold 300,000 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $26.90, for a total transaction of $8,070,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Exelixis, Inc. (NASDAQ:EXEL) traded up 0.44% during midday trading on Thursday, hitting $27.23. 4,039,806 shares of the stock traded hands. The company’s 50-day moving average is $27.05 and its 200 day moving average is $23.36. Exelixis, Inc. has a 52 week low of $10.04 and a 52 week high of $29.50. The firm has a market capitalization of $8.00 billion, a PE ratio of 137.53 and a beta of 1.97.
Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.02. Exelixis had a net margin of 18.20% and a return on equity of 80.43%. The firm had revenue of $99.01 million during the quarter, compared to analysts’ expectations of $85.27 million. During the same period in the previous year, the company earned ($0.15) earnings per share. The firm’s quarterly revenue was up 173.1% on a year-over-year basis. Analysts anticipate that Exelixis, Inc. will post $0.26 earnings per share for the current year.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Navellier & Associates Inc purchased a new position in shares of Exelixis during the second quarter valued at approximately $1,054,000. Public Employees Retirement System of Ohio raised its holdings in shares of Exelixis by 123.7% during the second quarter. Public Employees Retirement System of Ohio now owns 233,322 shares of the biotechnology company’s stock valued at $5,747,000 after purchasing an additional 129,008 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of Exelixis during the second quarter valued at approximately $473,000. California State Teachers Retirement System raised its holdings in shares of Exelixis by 14.9% during the second quarter. California State Teachers Retirement System now owns 515,076 shares of the biotechnology company’s stock valued at $12,686,000 after purchasing an additional 66,783 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Exelixis by 1,923.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 263,086 shares of the biotechnology company’s stock valued at $6,480,000 after purchasing an additional 250,086 shares during the last quarter. 79.20% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have commented on the stock. Royal Bank Of Canada assumed coverage on shares of Exelixis in a research note on Thursday. They issued an “outperform” rating for the company. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Exelixis in a research note on Monday, June 5th. Stifel Nicolaus reiterated a “hold” rating and issued a $26.00 price objective on shares of Exelixis in a research note on Thursday, August 3rd. Piper Jaffray Companies reiterated a “buy” rating and issued a $29.00 price objective on shares of Exelixis in a research note on Thursday, August 3rd. Finally, William Blair reiterated an “outperform” rating on shares of Exelixis in a research note on Friday, June 16th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Exelixis presently has an average rating of “Buy” and an average target price of $25.82.
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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