Exelixis, Inc. (NASDAQ:EXEL) EVP Sells $352,700.00 in Stock

Exelixis, Inc. (NASDAQ:EXEL) EVP Patrick J. Haley sold 10,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $35.27, for a total value of $352,700.00. Following the completion of the sale, the executive vice president now owns 278,665 shares of the company’s stock, valued at approximately $9,828,514.55. This trade represents a 3.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Exelixis Stock Performance

EXEL opened at $35.93 on Friday. The company has a market cap of $10.26 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 0.92 and a beta of 0.51. The stock has a 50-day moving average of $30.44 and a 200-day moving average of $25.90. Exelixis, Inc. has a 52-week low of $19.20 and a 52-week high of $36.73.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The firm had revenue of $539.50 million during the quarter, compared to analysts’ expectations of $490.31 million. During the same quarter in the prior year, the business earned $0.10 earnings per share. The company’s revenue was up 14.3% on a year-over-year basis. On average, research analysts predict that Exelixis, Inc. will post 1.69 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in shares of Exelixis in the third quarter valued at about $30,000. Brooklyn Investment Group bought a new stake in Exelixis during the 3rd quarter valued at approximately $42,000. Park Place Capital Corp acquired a new stake in Exelixis in the 2nd quarter valued at approximately $45,000. GAMMA Investing LLC increased its position in Exelixis by 107.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock worth $45,000 after buying an additional 1,041 shares during the period. Finally, EntryPoint Capital LLC increased its position in Exelixis by 537.2% in the 1st quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock worth $49,000 after buying an additional 1,746 shares during the period. Institutional investors own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on EXEL. Piper Sandler boosted their price target on shares of Exelixis from $33.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Guggenheim increased their target price on shares of Exelixis from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Morgan Stanley lifted their price target on shares of Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, October 11th. HC Wainwright reaffirmed a “buy” rating and issued a $29.00 price target on shares of Exelixis in a report on Wednesday, September 18th. Finally, Truist Financial raised their price objective on Exelixis from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $31.44.

About Exelixis

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers 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 progressive and metastatic medullary thyroid cancer.