Insider Selling: Exelixis (NASDAQ:EXEL) Director Sells 9,812 Shares of Stock

Exelixis, Inc. (NASDAQ:EXEL) Director Mary Beckerle sold 9,812 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $53.66, for a total transaction of $526,511.92. Following the completion of the transaction, the director owned 16,079 shares of the company’s stock, valued at approximately $862,799.14. This trade represents a 37.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Exelixis Stock Down 1.9%

Shares of NASDAQ EXEL traded down $0.95 during trading on Wednesday, reaching $50.38. The company had a trading volume of 2,938,697 shares, compared to its average volume of 2,681,125. Exelixis, Inc. has a 12 month low of $33.76 and a 12 month high of $57.57. The stock has a market cap of $12.48 billion, a P/E ratio of 15.84, a PEG ratio of 1.55 and a beta of 0.44. The company’s fifty day moving average price is $54.25 and its 200-day moving average price is $48.12.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. Exelixis had a return on equity of 42.17% and a net margin of 35.33%.The business had revenue of $628.69 million for the quarter, compared to analysts’ expectations of $636.40 million. During the same period in the prior year, the business posted $0.75 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis. As a group, equities analysts predict that Exelixis, Inc. will post 3.14 earnings per share for the current year.

Hedge Funds Weigh In On Exelixis

A number of large investors have recently modified their holdings of EXEL. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Exelixis by 0.5% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 59,420 shares of the biotechnology company’s stock valued at $2,549,000 after purchasing an additional 281 shares during the last quarter. Meeder Advisory Services Inc. boosted its holdings in shares of Exelixis by 5.8% in the fourth quarter. Meeder Advisory Services Inc. now owns 5,406 shares of the biotechnology company’s stock worth $237,000 after buying an additional 298 shares during the last quarter. Cim LLC boosted its holdings in shares of Exelixis by 0.9% in the third quarter. Cim LLC now owns 35,397 shares of the biotechnology company’s stock worth $1,462,000 after buying an additional 305 shares during the last quarter. J.W. Cole Advisors Inc. grew its position in Exelixis by 6.5% during the fourth quarter. J.W. Cole Advisors Inc. now owns 5,354 shares of the biotechnology company’s stock valued at $235,000 after buying an additional 329 shares during the period. Finally, Fifth Third Wealth Advisors LLC grew its position in Exelixis by 3.8% during the first quarter. Fifth Third Wealth Advisors LLC now owns 9,077 shares of the biotechnology company’s stock valued at $389,000 after buying an additional 333 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Stifel Nicolaus lifted their target price on Exelixis from $47.00 to $51.00 and gave the stock a “hold” rating in a report on Thursday, August 6th. Royal Bank Of Canada lifted their price objective on shares of Exelixis from $43.00 to $46.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 7th. Leerink Partners downgraded shares of Exelixis from an “outperform” rating to a “market perform” rating and set a $52.00 target price on the stock. in a research report on Thursday, August 6th. Wall Street Zen lowered shares of Exelixis from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Morgan Stanley raised their price target on shares of Exelixis from $50.00 to $53.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Exelixis currently has an average rating of “Hold” and a consensus target price of $49.79.

About Exelixis

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.