Insider Selling: Exelixis (NASDAQ:EXEL) Director Sells 99,574 Shares of Stock

Exelixis, Inc. (NASDAQ:EXEL) Director Jack Wyszomierski sold 99,574 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $44.01, for a total transaction of $4,382,251.74. Following the completion of the transaction, the director directly owned 279,942 shares of the company’s stock, valued at approximately $12,320,247.42. This trade represents a 26.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Exelixis Price Performance

Shares of Exelixis stock traded down $0.53 during trading hours on Friday, reaching $43.63. The company had a trading volume of 1,955,827 shares, compared to its average volume of 2,654,993. The firm has a market cap of $11.33 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 0.99 and a beta of 0.42. Exelixis, Inc. has a one year low of $32.38 and a one year high of $49.62. The business has a fifty day simple moving average of $43.88 and a 200 day simple moving average of $41.20.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.20. Exelixis had a return on equity of 36.29% and a net margin of 33.73%.The company had revenue of $598.66 million for the quarter, compared to analyst estimates of $609.17 million. During the same period in the previous year, the company posted $0.55 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, research analysts forecast that Exelixis, Inc. will post 2.04 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. UBS Group set a $41.00 target price on shares of Exelixis in a report on Monday, January 5th. Guggenheim cut shares of Exelixis from a “buy” rating to a “neutral” rating in a report on Monday, November 3rd. 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. Wells Fargo & Company boosted their target price on Exelixis from $30.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 11th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Exelixis in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $47.11.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Farallon Capital Management LLC increased its stake in shares of Exelixis by 21.6% in 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 holdings 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 valued at $598,647,000 after purchasing an additional 4,477,029 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Exelixis by 0.4% in the 2nd 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 in the last quarter. Invesco Ltd. grew its stake in shares of Exelixis by 1.6% in the 4th quarter. Invesco Ltd. now owns 6,054,743 shares of the biotechnology company’s stock worth $265,379,000 after buying an additional 94,218 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in Exelixis by 42.9% during the 2nd 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 in the last quarter. Institutional investors own 85.27% of the company’s stock.

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.