Exelixis (NASDAQ:EXEL) EVP Patrick Haley Sells 32,110 Shares

Exelixis, Inc. (NASDAQ:EXEL) EVP Patrick Haley sold 32,110 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $49.81, for a total transaction of $1,599,399.10. Following the completion of the transaction, the executive vice president owned 357,638 shares in the company, valued at $17,813,948.78. The trade was a 8.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Exelixis Price Performance

Shares of NASDAQ EXEL opened at $50.15 on Friday. The firm has a fifty day moving average price of $45.10 and a 200-day moving average price of $43.84. The stock has a market cap of $12.61 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 1.05 and a beta of 0.38. Exelixis, Inc. has a 1 year low of $33.76 and a 1 year high of $51.63.

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

Institutional Investors Weigh In On Exelixis

A number of hedge funds have recently modified their holdings of the business. Farallon Capital Management LLC raised its position in shares of Exelixis by 21.6% in the third quarter. Farallon Capital Management LLC now owns 19,501,500 shares of the biotechnology company’s stock valued at $805,412,000 after buying an additional 3,466,000 shares during the last quarter. AQR Capital Management LLC boosted its stake in 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 buying an additional 4,477,029 shares during the period. Invesco Ltd. boosted its stake in Exelixis by 1.6% during the fourth 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 period. Dimensional Fund Advisors LP boosted its stake in Exelixis by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 4,299,597 shares of the biotechnology company’s stock worth $184,391,000 after buying an additional 39,920 shares during the period. Finally, Morgan Stanley boosted its stake in shares of Exelixis by 31.0% in the fourth quarter. Morgan Stanley now owns 4,206,656 shares of the biotechnology company’s stock valued at $184,378,000 after purchasing an additional 995,949 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EXEL has been the subject of a number of research analyst reports. Royal Bank Of Canada decreased their price objective on shares of Exelixis from $46.00 to $43.00 and set a “sector perform” rating for the company in a report on Monday, March 2nd. Truist Financial raised shares of Exelixis to a “strong-buy” rating in a research report on Monday, April 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Exelixis in a research report on Tuesday. Wall Street Zen raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Finally, TD Cowen upped their price objective on shares of Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price 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.