Exelixis (NASDAQ:EXEL) SVP Brenda Hefti Sells 6,625 Shares

Exelixis, Inc. (NASDAQ:EXEL) SVP Brenda Hefti sold 6,625 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $50.21, for a total value of $332,641.25. Following the completion of the transaction, the senior vice president owned 106,762 shares in the company, valued at approximately $5,360,520.02. This trade represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Brenda Hefti also recently made the following trade(s):

• On Wednesday, February 18th, Brenda Hefti sold 18,669 shares of Exelixis stock. The stock was sold at an average price of $44.01, for a total value of $821,622.69.

Exelixis Price Performance

Exelixis stock opened at $48.67 on Wednesday. The stock’s 50-day moving average is $44.62 and its 200-day moving average is $43.64. The company has a market cap of $12.23 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 1.05 and a beta of 0.38. Exelixis, Inc. has a 12 month low of $33.76 and a 12 month high of $51.63.

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

Institutional Investors Weigh In On Exelixis

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Sumitomo Mitsui Trust Group Inc. increased its holdings in Exelixis by 0.5% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 59,420 shares of the biotechnology company’s stock worth $2,549,000 after purchasing an additional 281 shares during the last quarter. RHS Financial LLC increased its holdings in Exelixis by 2.4% during the 4th quarter. RHS Financial LLC now owns 12,619 shares of the biotechnology company’s stock worth $553,000 after purchasing an additional 293 shares during the last quarter. Meeder Advisory Services Inc. increased its holdings in Exelixis by 5.8% during the 4th 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 last quarter. Cim LLC increased its holdings in Exelixis by 0.9% during the 3rd quarter. Cim LLC now owns 35,397 shares of the biotechnology company’s stock worth $1,462,000 after purchasing an additional 305 shares during the last quarter. Finally, Evergreen Capital Management LLC increased its holdings in Exelixis by 6.4% during the 3rd quarter. Evergreen Capital Management LLC now owns 5,450 shares of the biotechnology company’s stock worth $225,000 after purchasing an additional 329 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on EXEL. Royal Bank Of Canada dropped their target price on Exelixis from $46.00 to $43.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. Stifel Nicolaus raised their target price on Exelixis from $44.00 to $47.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. Wall Street Zen upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Truist Financial upgraded Exelixis to a “strong-buy” rating in a report on Monday, April 27th. Finally, Wells Fargo & Company raised their target price on Exelixis from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $47.35.

About Exelixis

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.