Investors Buy Large Volume of Exelixis Put Options (NASDAQ:EXEL)

Exelixis, Inc. (NASDAQ:EXEL) was the target of unusually large options trading on Thursday. Stock traders acquired 10,010 put options on the company. This represents an increase of approximately 826% compared to the typical daily volume of 1,081 put options.

Analysts Set New Price Targets

EXEL has been the topic of several research reports. Weiss Ratings upgraded Exelixis from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday, August 11th. Wells Fargo & Company lifted their target price on Exelixis from $40.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Monday, July 13th. Barclays boosted their price target on Exelixis from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Tuesday, July 14th. Citizens Jmp upped their price target on Exelixis from $50.00 to $55.00 and gave the company a “market outperform” rating in a research report on Wednesday, June 24th. Finally, Royal Bank Of Canada lifted their price objective on shares of Exelixis from $43.00 to $46.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $50.07.

Exelixis Trading Down 1.5%

Shares of Exelixis stock opened at $54.45 on Friday. Exelixis has a 1 year low of $33.76 and a 1 year high of $57.57. The stock has a 50-day moving average price of $54.57 and a 200 day moving average price of $49.00. The company has a market cap of $13.49 billion, a P/E ratio of 17.12, a P/E/G ratio of 1.64 and a beta of 0.44.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $628.69 million for the quarter, compared to analyst estimates of $636.40 million. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.75 EPS. On average, equities analysts forecast that Exelixis will post 3.19 earnings per share for the current fiscal year.

Insider Transactions at Exelixis

In related news, Director Jack L. Wyszomierski sold 3,925 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $50.55, for a total transaction of $198,408.75. Following the completion of the sale, the director owned 284,384 shares of the company’s stock, valued at approximately $14,375,611.20. This represents a 1.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mary C. Beckerle sold 9,812 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $53.66, for a total value of $526,511.92. Following the completion of the sale, the director owned 16,079 shares of the company’s stock, valued at approximately $862,799.14. This represents a 37.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 23,549 shares of company stock valued at $1,216,894 over the last three months. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Exelixis

A number of institutional investors and hedge funds have recently bought and sold shares of EXEL. Motiv8 Investments LLC bought a new stake in shares of Exelixis during the fourth quarter worth about $26,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Exelixis during the first quarter valued at $27,000. Acumen Wealth Advisors LLC bought a new stake in shares of Exelixis in the 4th quarter valued at about $29,000. Western Wealth Management LLC acquired a new stake in shares of Exelixis in the first quarter valued at about $29,000. Finally, Activest Wealth Management bought a new position in shares of Exelixis during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Key Stories Impacting Exelixis

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Strong sales and earnings, along with reported institutional support, have helped Exelixis shares gain 43.5% over the past year. The company’s latest reported quarter also showed adjusted earnings of $0.91 per share, ahead of the $0.85 consensus estimate, while revenue increased 10.6% year over year. Strong Sales, Earnings Send Exelixis Shares Higher
• Positive Sentiment: Zacks Research raised its FY2026 EPS estimate to $3.18 from $3.12 and increased its Q1 2027 estimate to $0.80 from $0.79. It also lifted its Q3 2027 forecast slightly to $0.93 from $0.92, suggesting some confidence in near-term earnings execution.
• Neutral Sentiment: Exelixis remains near its 52-week high, with shares recently trading around $54.45 versus a high of $57.57. Its valuation is approximately 17 times earnings, while the company continues to show strong profitability, including a reported 35.3% net margin and 42.2% return on equity.
• Negative Sentiment: Zacks Research maintains a “Strong Sell” rating and made several downward revisions: FY2027 EPS fell to $3.57 from $3.60, Q2 2027 EPS declined to $0.84 from $0.89, Q4 2026 EPS decreased to $0.81 from $0.83, and Q1 2028 EPS edged down to $0.96 from $0.97. These cuts could pressure the stock despite the modest upward revisions elsewhere.
• Negative Sentiment: Options activity was unusually bearish on August 27, with traders purchasing 10,010 put contracts—about 826% above the average daily put volume of 1,081. The surge indicates increased demand for downside protection or speculation on a decline.

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.