Patrick Haley Sells 32,110 Shares of Exelixis (NASDAQ:EXEL) Stock

Exelixis, Inc. (NASDAQ:EXEL) EVP Patrick Haley sold 32,110 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $49.81, for a total value of $1,599,399.10. Following the completion of the sale, the executive vice president directly owned 357,638 shares in the company, valued at approximately $17,813,948.78. This represents a 8.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Exelixis Stock Up 1.0%

Shares of EXEL opened at $50.15 on Friday. The business’s 50 day moving average price is $45.10 and its 200-day moving average price is $43.84. Exelixis, Inc. has a 52 week low of $33.76 and a 52 week high of $51.63. The stock has a market cap of $12.61 billion, a P/E ratio of 16.66, a P/E/G ratio of 1.06 and a beta of 0.38.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.12. The business had revenue of $610.81 million for the quarter, compared to analysts’ expectations of $607.51 million. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.55 EPS. On average, equities analysts anticipate that Exelixis, Inc. will post 3.15 EPS for the current year.

Analyst Ratings Changes

EXEL has been the topic of several analyst reports. TD Cowen upped their price objective on Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Barclays upped their price objective on Exelixis from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, April 20th. Wells Fargo & Company upped their price objective on Exelixis from $35.00 to $40.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Zacks Research cut Exelixis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Exelixis in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Exelixis has a consensus rating of “Hold” and a consensus target price of $47.35.

Hedge Funds Weigh In On Exelixis

Several hedge funds and other institutional investors have recently modified their holdings of EXEL. Anchor Investment Management LLC increased its stake in shares of Exelixis by 500.0% in the 3rd quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 500 shares in the last quarter. Motiv8 Investments LLC purchased a new stake in shares of Exelixis in the 4th quarter worth $26,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Exelixis in the 1st quarter worth $27,000. Root Financial Partners LLC purchased a new stake in shares of Exelixis in the 3rd quarter worth $28,000. Finally, Western Wealth Management LLC purchased a new stake in shares of Exelixis in the 1st quarter worth $29,000. 85.27% of the stock is owned by institutional investors.

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.