Traders Sell Exelixis (EXEL) on Strength on Analyst Downgrade

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Investors sold shares of Exelixis, Inc. (NASDAQ:EXEL) on strength during trading hours on Wednesday after Oppenheimer lowered their price target on the stock from $40.00 to $31.00. $46.67 million flowed into the stock on the tick-up and $65.99 million flowed out of the stock on the tick-down, for a money net flow of $19.32 million out of the stock. Of all stocks tracked, Exelixis had the 0th highest net out-flow for the day. Exelixis traded up $0.37 for the day and closed at $22.05

Other analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Exelixis from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 24th. Zacks Investment Research downgraded shares of Exelixis from a “buy” rating to a “hold” rating in a research report on Monday. TheStreet upgraded shares of Exelixis from a “c+” rating to a “b-” rating in a research report on Monday, December 17th. ValuEngine upgraded shares of Exelixis from a “strong sell” rating to a “sell” rating in a research report on Saturday, December 1st. Finally, Piper Jaffray Companies reduced their price target on shares of Exelixis from $29.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, November 5th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $27.25.

In other Exelixis news, CEO Michael Morrissey sold 6,046 shares of the company’s stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $20.00, for a total transaction of $120,920.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George A. Scangos sold 40,000 shares of the company’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $23.53, for a total transaction of $941,200.00. Following the transaction, the director now owns 1,363,031 shares of the company’s stock, valued at approximately $32,072,119.43. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 337,807 shares of company stock valued at $7,248,232. 4.80% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in EXEL. FTB Advisors Inc. raised its position in Exelixis by 312.0% during the 4th quarter. FTB Advisors Inc. now owns 1,545 shares of the biotechnology company’s stock worth $29,000 after buying an additional 1,170 shares during the last quarter. JOYN Advisors Inc. raised its position in Exelixis by 334.2% during the 4th quarter. JOYN Advisors Inc. now owns 1,524 shares of the biotechnology company’s stock worth $30,000 after buying an additional 1,173 shares during the last quarter. Cornerstone Advisors Inc. purchased a new position in Exelixis during the 4th quarter worth $38,000. Financial Gravity Companies Inc. purchased a new position in Exelixis during the 4th quarter worth $50,000. Finally, Laurel Wealth Advisors LLC purchased a new position in Exelixis during the 4th quarter worth $59,000. Institutional investors own 78.28% of the company’s stock.

The stock has a market capitalization of $6.44 billion, a P/E ratio of 43.24, a price-to-earnings-growth ratio of 1.34 and a beta of 2.21. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.54 and a current ratio of 8.66.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, February 12th. The biotechnology company reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.14. The company had revenue of $228.60 million during the quarter, compared to the consensus estimate of $188.44 million. Exelixis had a net margin of 49.53% and a return on equity of 55.71%. Exelixis’s quarterly revenue was up 90.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.12 EPS. On average, analysts forecast that Exelixis, Inc. will post 1.3 earnings per share for the current year.

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About Exelixis (NASDAQ:EXEL)

Exelixis, Inc, a biotechnology company, engages in the discovery, development, and commercialization of new medicines to enhance care and outcomes for people with cancer. The company's products include CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of patients with progressive and metastatic medullary thyroid cancer.

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