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

Exelixis, Inc. (NASDAQ:EXEL) EVP Patrick Haley sold 67,814 shares of Exelixis stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $43.52, for a total value of $2,951,265.28. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Exelixis Trading Up 0.9%

Shares of Exelixis stock opened at $44.47 on Thursday. The company’s 50-day moving average price is $43.77 and its 200-day moving average price is $41.13. Exelixis, Inc. has a 12-month low of $32.38 and a 12-month high of $49.62. The company has a market cap of $11.55 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 0.99 and a beta of 0.42.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, February 10th. The biotechnology company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.74 by $0.20. Exelixis had a net margin of 33.73% and a return on equity of 36.29%. The company had revenue of $598.66 million during the quarter, compared to analysts’ expectations of $609.17 million. During the same quarter in the previous year, the company earned $0.55 earnings per share. Exelixis’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, sell-side analysts predict that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Institutional Investors Weigh In On Exelixis

Hedge funds have recently made changes to their positions in the business. Motiv8 Investments LLC bought a new position in shares of Exelixis during the 4th quarter valued at $26,000. Richardson Financial Services Inc. boosted its position in Exelixis by 95.1% during the third quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 292 shares during the period. Anchor Investment Management LLC grew its stake in shares of Exelixis by 500.0% during the third quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 500 shares during the last quarter. Acumen Wealth Advisors LLC bought a new position in shares of Exelixis during the fourth quarter valued at about $29,000. Finally, Root Financial Partners LLC purchased a new position in shares of Exelixis in the third quarter worth about $28,000. 85.27% of the stock is currently owned by institutional investors.

More Exelixis News

Here are the key news stories impacting Exelixis this week:

• Neutral Sentiment: Summary: Multiple SEC Form 4 filings show insider sales totaling roughly $9 million across several executives and directors; the filings do not state the motivation (could be pre‑planned sales, diversification, or personal liquidity). CFO Christopher Senner filings
• Negative Sentiment: CFO Christopher J. Senner sold 34,278 shares on Feb 13 at an average $43.00 (~$1.47M) and 30,617 shares on Feb 17 at $43.67 (~$1.34M); combined reduction of ~3.18% and 3.04% of his holdings in separate filings. SEC filing
• Negative Sentiment: EVP Patrick J. Haley sold 67,814 shares on Feb 17 at an average $43.52 (~$2.95M), a ~15.08% cut to his stake. SEC filing
• Negative Sentiment: Director Bob Oliver sold 30,250 shares on Feb 13 at an average $43.81 (~$1.33M), reducing his position by ~58.9%. SEC filing
• Negative Sentiment: SVP Brenda Hefti sold 18,669 shares on Feb 18 at an average $44.01 (~$0.82M), trimming her holding by ~16.2%. SEC filing
• Negative Sentiment: Director Sue Gail Eckhardt sold 3,856 shares on Feb 13 at an average $43.79 (~$0.17M), an ~18.0% reduction of her stake. SEC filing

Analyst Ratings Changes

EXEL has been the topic of a number of recent analyst reports. Oppenheimer reiterated a “market perform” rating and issued a $36.00 price objective on shares of Exelixis in a research report on Wednesday, November 5th. Barclays raised their price target on Exelixis from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Wednesday, February 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Exelixis in a report on Thursday, January 22nd. Stifel Nicolaus upped their price objective on shares of Exelixis from $43.00 to $44.00 and gave the stock a “hold” rating in a research report on Wednesday, February 11th. Finally, Citigroup downgraded shares of Exelixis from a “market outperform” rating to an “underperform” rating in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.