Exelixis (NASDAQ:EXEL) Director Mary Beckerle Sells 7,712 Shares

Exelixis, Inc. (NASDAQ:EXEL) Director Mary Beckerle sold 7,712 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $48.45, for a total value of $373,646.40. Following the completion of the transaction, the director directly owned 17,524 shares of the company’s stock, valued at $849,037.80. This trade represents a 30.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Exelixis Stock Up 4.2%

Shares of EXEL opened at $48.16 on Friday. The stock has a 50 day moving average price of $43.44 and a 200 day moving average price of $42.97. The company has a market capitalization of $12.11 billion, a price-to-earnings ratio of 16.00, a price-to-earnings-growth ratio of 0.99 and a beta of 0.38. Exelixis, Inc. has a 52-week low of $33.76 and a 52-week high of $49.62.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, beating 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 company had revenue of $610.81 million during the quarter, compared to analysts’ expectations of $607.51 million. During the same quarter in the previous year, the business earned $0.55 earnings per share. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities analysts anticipate that Exelixis, Inc. will post 3.11 EPS for the current fiscal year.

Analysts Set New Price Targets

EXEL has been the subject of a number of research reports. Truist Financial upgraded Exelixis to a “strong-buy” rating in a research note on Monday, April 27th. Wall Street Zen upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Wells Fargo & Company boosted their price objective on Exelixis from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Wednesday. Barclays boosted their price objective on Exelixis from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, April 20th. Finally, TD Cowen boosted their price objective on Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday. One investment 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $47.83.

Key Headlines Impacting Exelixis

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Exelixis reported solid Q1 results, with revenue of $610.8 million and earnings per share of $0.87, both ahead of expectations. The company also completed its prior buyback authorization and launched a new $750 million share repurchase program, which can support the stock by reducing share count. Article Title
• Positive Sentiment: Analysts turned more constructive, with HC Wainwright raising its price target to $56 and Morgan Stanley lifting its target to $50, signaling improved confidence in Exelixis’ outlook. Article Title Article Title
• Positive Sentiment: The company also announced upcoming investor conference appearances in May, which may help keep investor attention on its pipeline and strategy. Article Title
• Neutral Sentiment: Several directors disclosed stock sales on May 7, including George Poste, Maria C. Freire, and Mary C. Beckerle. Insider selling can create some near-term caution, but the transactions were disclosed and do not by themselves indicate a change in the business outlook. Article Title Article Title Article Title

Institutional Investors Weigh In On Exelixis

Large investors have recently modified their holdings of the stock. Richardson Financial Services Inc. raised its stake in shares of Exelixis by 95.1% during the third quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 292 shares during the last quarter. Anchor Investment Management LLC raised its position in Exelixis by 500.0% in the third quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 500 shares in the last quarter. Motiv8 Investments LLC purchased a new position in Exelixis in the fourth quarter worth $26,000. Cassaday & Co Wealth Management LLC purchased a new position in Exelixis in the first quarter worth $27,000. Finally, Root Financial Partners LLC purchased a new position in Exelixis in the third quarter worth $28,000. Hedge funds and other 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.