Brenda Hefti Sells 6,625 Shares of Exelixis (NASDAQ:EXEL) Stock

Exelixis, Inc. (NASDAQ:EXEL) SVP Brenda Hefti sold 6,625 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $50.21, for a total transaction of $332,641.25. Following the sale, the senior vice president owned 106,762 shares of the company’s stock, valued at approximately $5,360,520.02. The trade was a 5.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Brenda Hefti also recently made the following trade(s):

• On Wednesday, February 18th, Brenda Hefti sold 18,669 shares of Exelixis stock. The shares were sold at an average price of $44.01, for a total transaction of $821,622.69.

Exelixis Stock Down 2.3%

EXEL stock traded down $1.17 during trading on Tuesday, hitting $48.67. 2,843,823 shares of the company’s stock traded hands, compared to its average volume of 2,761,301. Exelixis, Inc. has a 52 week low of $33.76 and a 52 week high of $51.63. The stock has a fifty day moving average price of $44.47 and a two-hundred day moving average price of $43.58. The stock has a market capitalization of $12.23 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 1.06 and a beta of 0.38.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.12. The business had revenue of $610.81 million for the quarter, compared to analysts’ expectations of $607.51 million. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 EPS. As a group, equities research analysts expect that Exelixis, Inc. will post 3.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Exelixis

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Exelixis by 81.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,181 shares of the biotechnology company’s stock worth $1,592,000 after buying an additional 19,407 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Exelixis by 4.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company’s stock worth $54,153,000 after acquiring an additional 68,133 shares during the period. Focus Partners Wealth grew its holdings in Exelixis by 83.4% during the first quarter. Focus Partners Wealth now owns 38,458 shares of the biotechnology company’s stock worth $1,420,000 after acquiring an additional 17,483 shares during the period. Geneos Wealth Management Inc. raised its position in Exelixis by 134.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company’s stock worth $61,000 after acquiring an additional 944 shares in the last quarter. Finally, Sivia Capital Partners LLC lifted its holdings in Exelixis by 23.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 14,362 shares of the biotechnology company’s stock valued at $633,000 after acquiring an additional 2,764 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EXEL. TD Cowen boosted their price target on shares of Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Royal Bank Of Canada dropped their price objective on shares of Exelixis from $46.00 to $43.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. Truist Financial upgraded shares of Exelixis to a “strong-buy” rating in a research report on Monday, April 27th. HC Wainwright upped their target price on shares of Exelixis from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Morgan Stanley raised their price target on shares of Exelixis from $49.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $47.35.

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.