Insider Selling: Exelixis (NASDAQ:EXEL) Director Sells $1,325,252.50 in Stock

Exelixis, Inc. (NASDAQ:EXEL) Director Bob Oliver sold 30,250 shares of Exelixis stock in a transaction on Friday, February 13th. The shares were sold at an average price of $43.81, for a total transaction of $1,325,252.50. Following the completion of the transaction, the director directly owned 21,120 shares of the company’s stock, valued at $925,267.20. The trade was a 58.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Exelixis Stock Down 1.2%

EXEL stock opened at $43.63 on Friday. Exelixis, Inc. has a 52-week low of $32.38 and a 52-week high of $49.62. The firm has a market cap of $11.33 billion, a P/E ratio of 15.75, a PEG ratio of 0.99 and a beta of 0.42. The company’s 50-day simple moving average is $43.88 and its 200-day simple moving average is $41.20.

Exelixis (NASDAQ:EXEL) last released its quarterly 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 company had revenue of $598.66 million during the quarter, compared to analysts’ expectations of $609.17 million. Exelixis had a return on equity of 36.29% and a net margin of 33.73%.Exelixis’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 EPS. On average, analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on EXEL shares. Wall Street Zen lowered shares of Exelixis from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. Barclays boosted their target price on shares of Exelixis from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 4th. TD Cowen reaffirmed a “buy” rating on shares of Exelixis in a research note on Wednesday, November 5th. Wells Fargo & Company boosted their price objective on Exelixis from $30.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 11th. Finally, UBS Group set a $41.00 target price on Exelixis in a report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Exelixis has an average rating of “Hold” and a consensus target price of $47.11.

Institutional Inflows and Outflows

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