Insider Selling: Exelixis (NASDAQ:EXEL) EVP Sells $2,951,265.28 in Stock

Exelixis, Inc. (NASDAQ:EXEL) EVP Patrick Haley sold 67,814 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $43.52, for a total value of $2,951,265.28. Following the completion of the sale, the executive vice president directly owned 381,908 shares of the company’s stock, valued at approximately $16,620,636.16. The trade was a 15.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Exelixis Stock Performance

Shares of NASDAQ EXEL opened at $43.63 on Friday. The company’s 50 day moving average price is $43.88 and its 200-day moving average price is $41.20. Exelixis, Inc. has a 52-week low of $32.38 and a 52-week high of $49.62. The company has a market capitalization of $11.33 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 0.99 and a beta of 0.42.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.20. The business had revenue of $598.66 million during the quarter, compared to the consensus estimate of $609.17 million. Exelixis had a net margin of 33.73% and a return on equity of 36.29%. Exelixis’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.55 earnings per share. Analysts forecast that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on EXEL. Barclays raised their price objective on shares of Exelixis from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 4th. Zacks Research raised Exelixis from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th. Wolfe Research assumed coverage on Exelixis in a report on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Wall Street Zen downgraded Exelixis from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. Finally, Guggenheim lowered Exelixis from a “buy” rating to a “neutral” rating in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $47.11.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Richardson Financial Services Inc. increased its position in Exelixis by 95.1% in the third quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock worth $25,000 after buying an additional 292 shares during the last quarter. Anchor Investment Management LLC grew its position in shares of Exelixis by 500.0% during the 3rd quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 500 shares in the last quarter. Motiv8 Investments LLC bought a new position in shares of Exelixis in the fourth quarter worth $26,000. Root Financial Partners LLC bought a new stake in Exelixis during the third quarter valued at $28,000. Finally, Acumen Wealth Advisors LLC purchased a new position in Exelixis during the fourth quarter worth about $29,000. Institutional investors own 85.27% of the company’s stock.

Exelixis Company Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.