Insider Selling: Exelixis (NASDAQ:EXEL) CFO Sells 34,278 Shares of Stock

Exelixis, Inc. (NASDAQ:EXEL) CFO Christopher Senner sold 34,278 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $43.00, for a total transaction of $1,473,954.00. Following the completion of the sale, the chief financial officer directly owned 1,042,579 shares of the company’s stock, valued at $44,830,897. The trade was a 3.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Exelixis Stock Performance

Shares of NASDAQ:EXEL traded up $0.39 during midday trading on Wednesday, hitting $44.47. 3,267,412 shares of the company’s stock traded hands, compared to its average volume of 2,563,792. The company has a market cap of $11.55 billion, a PE ratio of 16.05, a P/E/G ratio of 0.99 and a beta of 0.42. The firm’s fifty day moving average price is $43.77 and its two-hundred day moving average price is $41.13. Exelixis, Inc. has a twelve month low of $32.38 and a twelve month high of $49.62.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.20. Exelixis had a return on equity of 36.29% and a net margin of 33.73%.The firm had revenue of $598.66 million during the quarter, compared to the consensus estimate of $609.17 million. During the same period in the prior year, the firm earned $0.55 EPS. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Institutional Trading of Exelixis

Several institutional investors have recently added to or reduced their stakes in EXEL. Farallon Capital Management LLC grew its holdings in Exelixis by 21.6% during the 3rd quarter. Farallon Capital Management LLC now owns 19,501,500 shares of the biotechnology company’s stock worth $805,412,000 after acquiring an additional 3,466,000 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Exelixis by 48.8% during the fourth 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 last quarter. Geode Capital Management LLC lifted its position in shares of Exelixis by 0.4% during the second quarter. Geode Capital Management LLC now owns 7,445,469 shares of the biotechnology company’s stock worth $328,196,000 after purchasing an additional 28,289 shares during the last quarter. Invesco Ltd. grew its stake in Exelixis by 7.1% in the third quarter. Invesco Ltd. now owns 5,960,525 shares of the biotechnology company’s stock worth $246,170,000 after purchasing an additional 394,897 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Exelixis by 42.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 5,262,643 shares of the biotechnology company’s stock valued at $231,951,000 after buying an additional 1,580,567 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

EXEL has been the subject of a number of analyst reports. UBS Group set a $41.00 price target on Exelixis in a report on Monday, January 5th. HC Wainwright upped their target price on shares of Exelixis from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Barclays raised their price target on shares of Exelixis from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Wednesday, February 4th. Bank of America downgraded shares of Exelixis from a “neutral” rating to an “underperform” rating and set a $41.00 price target on the stock. in a research note on Monday, January 5th. Finally, Zacks Research raised shares of Exelixis from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Exelixis has an average rating of “Hold” and an average target price of $47.11.

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.