George Poste Sells 60,000 Shares of Exelixis (NASDAQ:EXEL) Stock

Exelixis, Inc. (NASDAQ:EXEL) Director George Poste sold 60,000 shares of Exelixis stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $45.71, for a total transaction of $2,742,600.00. Following the completion of the transaction, the director directly owned 118,832 shares in the company, valued at approximately $5,431,810.72. The trade was a 33.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Exelixis Trading Up 4.2%

Shares of Exelixis stock traded up $1.95 during trading on Friday, reaching $48.16. The stock had a trading volume of 2,179,003 shares, compared to its average volume of 2,756,304. The company has a market capitalization of $12.11 billion, a price-to-earnings ratio of 16.00, a P/E/G ratio of 1.09 and a beta of 0.38. The stock has a fifty day moving average price of $43.44 and a two-hundred day moving average price of $42.97. Exelixis, Inc. has a 52 week low of $33.76 and a 52 week high of $49.62.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.12. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The firm had revenue of $610.81 million during the quarter, compared to the consensus estimate of $607.51 million. During the same quarter in the prior year, the firm posted $0.55 EPS. The business’s revenue was up 10.0% on a year-over-year basis. On average, equities analysts forecast that Exelixis, Inc. will post 3.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Exelixis by 0.5% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 59,420 shares of the biotechnology company’s stock worth $2,549,000 after acquiring an additional 281 shares during the period. Richardson Financial Services Inc. grew its stake in shares of Exelixis by 95.1% in the third quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 292 shares in the last quarter. RHS Financial LLC boosted its holdings in Exelixis by 2.4% in the 4th quarter. RHS Financial LLC now owns 12,619 shares of the biotechnology company’s stock valued at $553,000 after purchasing an additional 293 shares during the period. Meeder Advisory Services Inc. increased its holdings in shares of Exelixis by 5.8% during the fourth quarter. Meeder Advisory Services Inc. now owns 5,406 shares of the biotechnology company’s stock worth $237,000 after purchasing an additional 298 shares during the period. Finally, Cim LLC boosted its stake in shares of Exelixis by 0.9% in the third quarter. Cim LLC now owns 35,397 shares of the biotechnology company’s stock valued at $1,462,000 after buying an additional 305 shares during the period. 85.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EXEL. Truist Financial raised Exelixis to a “strong-buy” rating in a report on Monday, April 27th. Wall Street Zen lowered shares of Exelixis from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 18th. HC Wainwright lifted their price objective on shares of Exelixis from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday. Barclays upped their target price on shares of Exelixis from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Monday, April 20th. Finally, Royal Bank Of Canada reduced their price target on Exelixis from $46.00 to $43.00 and set a “sector perform” rating for the company in a report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $47.83.

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.