Exelixis (NASDAQ:EXEL) EVP Patrick Haley Sells 67,814 Shares

Exelixis, Inc. (NASDAQ:EXEL) EVP Patrick Haley sold 67,814 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $43.52, for a total transaction of $2,951,265.28. Following the completion of the transaction, the executive vice president directly owned 381,908 shares of the company’s stock, valued at $16,620,636.16. The trade was a 15.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Exelixis Trading Up 0.9%

Shares of Exelixis stock traded up $0.39 during mid-day trading on Wednesday, hitting $44.47. 3,267,412 shares of the stock were exchanged, compared to its average volume of 2,563,792. The stock has a market capitalization of $11.55 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 0.99 and a beta of 0.42. Exelixis, Inc. has a twelve month low of $32.38 and a twelve month high of $49.62. The company has a 50-day simple moving average of $43.77 and a 200 day simple moving average of $41.13.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share for the quarter, beating 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 business had revenue of $598.66 million during the quarter, compared to analyst estimates of $609.17 million. During the same quarter in the previous year, the business posted $0.55 earnings per share. The company’s revenue was up 5.6% on a year-over-year basis. Equities research analysts forecast that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

EXEL has been the subject of several analyst reports. Stifel Nicolaus upped their target price on Exelixis from $43.00 to $44.00 and gave the company a “hold” rating in a research note on Wednesday, February 11th. Wells Fargo & Company upped their price objective on shares of Exelixis from $30.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 11th. HC Wainwright raised their target price on shares of Exelixis from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Guggenheim downgraded shares of Exelixis from a “buy” rating to a “neutral” rating in a report on Monday, November 3rd. Finally, Wolfe Research began coverage on shares of Exelixis in a research report on Tuesday, November 18th. They set a “peer perform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $47.11.

Institutional Trading of Exelixis

Hedge funds and other institutional investors have recently modified their holdings of the business. Police & Firemen s Retirement System of New Jersey raised its stake in shares of Exelixis by 0.3% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 102,581 shares of the biotechnology company’s stock valued at $4,521,000 after purchasing an additional 274 shares in the last quarter. Richardson Financial Services Inc. boosted its position 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 buying an additional 292 shares during the period. RHS Financial LLC grew 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 worth $553,000 after buying an additional 293 shares in the last quarter. Meeder Advisory Services Inc. increased its position in Exelixis by 5.8% in the 4th quarter. Meeder Advisory Services Inc. now owns 5,406 shares of the biotechnology company’s stock valued at $237,000 after acquiring an additional 298 shares during the period. Finally, Cim LLC increased its position in Exelixis by 0.9% in the 3rd quarter. Cim LLC now owns 35,397 shares of the biotechnology company’s stock valued at $1,462,000 after acquiring an additional 305 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.

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.