Insider Selling: Exelixis (NASDAQ:EXEL) Director Sells 3,856 Shares of Stock

Exelixis, Inc. (NASDAQ:EXEL) Director Sue Gail Eckhardt sold 3,856 shares of Exelixis stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $43.79, for a total transaction of $168,854.24. Following the sale, the director owned 17,524 shares in the company, valued at approximately $767,375.96. This represents a 18.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Exelixis Trading Up 0.9%

EXEL traded up $0.39 during trading on Wednesday, reaching $44.47. 3,267,412 shares of the company’s stock were exchanged, compared to its average volume of 2,563,792. Exelixis, Inc. has a one year low of $32.38 and a one year high of $49.62. The firm has a fifty day moving average price of $43.77 and a two-hundred day moving average price of $41.13. The stock has a market capitalization of $11.55 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 0.99 and a beta of 0.42.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, February 10th. The biotechnology company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.20. Exelixis had a net margin of 33.73% and a return on equity of 36.29%. The company had revenue of $598.66 million for the quarter, compared to analyst estimates of $609.17 million. During the same quarter in the previous year, the business earned $0.55 earnings per share. Exelixis’s revenue was up 5.6% compared to the same quarter last year. Sell-side analysts expect that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada increased their price target on Exelixis from $45.00 to $46.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 11th. Truist Financial set a $51.00 target price on Exelixis in a report on Wednesday, January 14th. Zacks Research raised shares of Exelixis from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th. Morgan Stanley raised their price target on shares of Exelixis from $48.00 to $49.00 and gave the stock an “equal weight” rating in a report on Monday, February 2nd. Finally, Wall Street Zen downgraded shares of Exelixis from a “strong-buy” rating to a “buy” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $47.11.

Hedge Funds Weigh In On Exelixis

Several institutional investors have recently added to or reduced their stakes in the business. Richardson Financial Services Inc. grew its position in shares of Exelixis by 95.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock worth $25,000 after buying an additional 292 shares during the period. Anchor Investment Management LLC boosted its stake in Exelixis by 500.0% during 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 bought a new position in Exelixis during the fourth quarter worth $26,000. Root Financial Partners LLC acquired a new stake in Exelixis in the third quarter worth $28,000. Finally, Acumen Wealth Advisors LLC acquired a new position in shares of Exelixis during the fourth quarter valued at about $29,000. 85.27% of the stock is owned by institutional investors and hedge funds.

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.