Insider Selling: Exelixis (NASDAQ:EXEL) EVP Sells $2,132,351.00 in Stock

Exelixis, Inc. (NASDAQ:EXEL) EVP Dana Aftab sold 47,918 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $44.50, for a total transaction of $2,132,351.00. Following the completion of the transaction, the executive vice president owned 616,106 shares in the company, valued at $27,416,717. This represents a 7.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Dana Aftab also recently made the following trade(s):

• On Thursday, February 19th, Dana Aftab sold 29,873 shares of Exelixis stock. The shares were sold at an average price of $44.35, for a total transaction of $1,324,867.55.

Exelixis Price Performance

NASDAQ EXEL opened at $44.06 on Friday. The firm’s fifty day moving average price is $44.09 and its 200 day moving average price is $41.46. Exelixis, Inc. has a 12 month low of $32.38 and a 12 month high of $49.62. The company has a market capitalization of $11.44 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 0.99 and a beta of 0.42.

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

Hedge Funds Weigh In On Exelixis

Large investors have recently bought and sold shares of the company. TriaGen Wealth Management LLC purchased a new stake in Exelixis in the 3rd quarter valued at about $2,024,000. BridgePort Financial Solutions LLC acquired a new stake in shares of Exelixis in the third quarter worth approximately $517,000. Candriam S.C.A. boosted its position in shares of Exelixis by 18.4% in the third quarter. Candriam S.C.A. now owns 696,104 shares of the biotechnology company’s stock worth $28,749,000 after acquiring an additional 108,367 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in Exelixis by 153.3% in the third quarter. Allianz Asset Management GmbH now owns 2,462,948 shares of the biotechnology company’s stock valued at $101,720,000 after purchasing an additional 1,490,520 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in Exelixis during the second quarter worth approximately $321,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EXEL. Truist Financial set a $51.00 price objective on Exelixis in a research note on Wednesday, January 14th. Wells Fargo & Company raised their target price on shares of Exelixis from $30.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 11th. Citigroup cut shares of Exelixis from a “market outperform” rating to an “underperform” rating in a report on Monday, January 5th. UBS Group set a $41.00 price target on shares of Exelixis in a research note on Monday, January 5th. Finally, Oppenheimer reissued a “market perform” rating and set a $36.00 price objective on shares of Exelixis in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $47.11.

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.