Exelixis (NASDAQ:EXEL) EVP Patrick Haley Sells 32,110 Shares

Exelixis, Inc. (NASDAQ:EXEL) EVP Patrick Haley sold 32,110 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $49.81, for a total transaction of $1,599,399.10. Following the completion of the sale, the executive vice president owned 357,638 shares of the company’s stock, valued at $17,813,948.78. This represents a 8.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Exelixis Trading Up 1.0%

NASDAQ EXEL traded up $0.50 during trading on Friday, hitting $50.15. 1,543,031 shares of the company traded hands, compared to its average volume of 2,732,338. Exelixis, Inc. has a 12 month low of $33.76 and a 12 month high of $51.63. The business has a fifty day simple moving average of $44.93 and a 200 day simple moving average of $43.80. The company has a market capitalization of $12.61 billion, a P/E ratio of 16.66, a PEG ratio of 1.06 and a beta of 0.38.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $607.51 million. During the same quarter in the prior year, the company posted $0.55 EPS. The firm’s revenue was up 10.0% on a year-over-year basis. Equities research analysts predict that Exelixis, Inc. will post 3.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Exelixis

Hedge funds have recently modified their holdings of the business. Farallon Capital Management LLC boosted its holdings in Exelixis by 21.6% in the 3rd quarter. Farallon Capital Management LLC now owns 19,501,500 shares of the biotechnology company’s stock valued at $805,412,000 after purchasing an additional 3,466,000 shares during the period. AQR Capital Management LLC increased its holdings in shares of Exelixis by 48.8% during the 4th quarter. AQR Capital Management LLC now owns 13,658,388 shares of the biotechnology company’s stock worth $598,647,000 after purchasing an additional 4,477,029 shares during the period. Invesco Ltd. increased its holdings in shares of Exelixis by 1.6% during the 4th quarter. Invesco Ltd. now owns 6,054,743 shares of the biotechnology company’s stock worth $265,379,000 after purchasing an additional 94,218 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Exelixis by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 4,299,597 shares of the biotechnology company’s stock valued at $184,391,000 after buying an additional 39,920 shares during the last quarter. Finally, Morgan Stanley raised its position in shares of Exelixis by 31.0% during the fourth quarter. Morgan Stanley now owns 4,206,656 shares of the biotechnology company’s stock valued at $184,378,000 after buying an additional 995,949 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Stifel Nicolaus raised their target price on shares of Exelixis from $44.00 to $47.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada dropped their target price on shares of Exelixis from $46.00 to $43.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. HC Wainwright boosted their target price on shares of Exelixis from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Wells Fargo & Company upped their price target on shares of 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 given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.