Exelixis, Inc. (NASDAQ:EXEL) EVP Sells $1,428,963.68 in Stock

Exelixis, Inc. (NASDAQ:EXEL) EVP Patrick J. Haley sold 41,588 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.36, for a total transaction of $1,428,963.68. Following the completion of the transaction, the executive vice president now directly owns 288,665 shares in the company, valued at $9,918,529.40. The trade was a 12.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Exelixis Price Performance

Shares of NASDAQ EXEL opened at $34.83 on Friday. The business’s 50 day moving average is $29.72 and its two-hundred day moving average is $25.48. The stock has a market capitalization of $9.95 billion, a P/E ratio of 22.33, a PEG ratio of 0.87 and a beta of 0.51. Exelixis, Inc. has a 1-year low of $19.20 and a 1-year high of $36.60.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The firm had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 earnings per share. As a group, equities research analysts anticipate that Exelixis, Inc. will post 1.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Exelixis

Several institutional investors have recently bought and sold shares of EXEL. Tri Ri Asset Management Corp acquired a new position in shares of Exelixis in the 3rd quarter valued at $4,335,000. TD Private Client Wealth LLC lifted its stake in shares of Exelixis by 376.8% in the third quarter. TD Private Client Wealth LLC now owns 9,756 shares of the biotechnology company’s stock worth $253,000 after buying an additional 7,710 shares in the last quarter. Neo Ivy Capital Management purchased a new position in Exelixis during the third quarter worth approximately $264,000. Coldstream Capital Management Inc. acquired a new stake in Exelixis during the third quarter worth about $238,000. Finally, Vestcor Inc raised its position in Exelixis by 1.2% in the third quarter. Vestcor Inc now owns 59,789 shares of the biotechnology company’s stock valued at $1,552,000 after purchasing an additional 722 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EXEL has been the topic of several research reports. Wells Fargo & Company upped their price target on shares of Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group upgraded Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. Guggenheim lifted their price objective on Exelixis from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer reiterated an “outperform” rating and set a $29.00 price objective on shares of Exelixis in a report on Tuesday, July 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $34.00 price objective on shares of Exelixis in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $31.44.

Exelixis Company Profile

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.