Exelixis, Inc. (NASDAQ:EXEL) EVP Jeffrey Hessekiel Sells 25,000 Shares

Exelixis, Inc. (NASDAQ:EXEL) EVP Jeffrey Hessekiel sold 25,000 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $28.39, for a total value of $709,750.00. Following the completion of the transaction, the executive vice president now directly owns 580,325 shares in the company, valued at approximately $16,475,426.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Jeffrey Hessekiel also recently made the following trade(s):

• On Monday, September 23rd, Jeffrey Hessekiel sold 25,000 shares of Exelixis stock. The shares were sold at an average price of $26.38, for a total value of $659,500.00.
• On Monday, August 26th, Jeffrey Hessekiel sold 20,000 shares of Exelixis stock. The stock was sold at an average price of $25.79, for a total transaction of $515,800.00.

Exelixis Price Performance

NASDAQ:EXEL opened at $32.44 on Thursday. The business’s 50-day simple moving average is $26.81 and its 200-day simple moving average is $24.15. Exelixis, Inc. has a fifty-two week low of $19.20 and a fifty-two week high of $33.32. The stock has a market capitalization of $9.25 billion, a PE ratio of 27.97, a price-to-earnings-growth ratio of 0.61 and a beta of 0.54.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.44. Exelixis had a net margin of 17.38% and a return on equity of 15.54%. The company had revenue of $637.18 million during the quarter, compared to analysts’ expectations of $468.21 million. On average, research analysts expect that Exelixis, Inc. will post 1.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Piper Sandler upped their target price on shares of Exelixis from $33.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $34.00 price objective on shares of Exelixis in a report on Wednesday. Morgan Stanley lifted their target price on Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. UBS Group started coverage on Exelixis in a research note on Thursday, September 19th. They set a “neutral” rating and a $30.00 price target on the stock. Finally, TD Cowen lifted their price objective on Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Exelixis presently has an average rating of “Moderate Buy” and an average target price of $31.44.

Hedge Funds Weigh In On Exelixis

Large investors have recently added to or reduced their stakes in the company. Farallon Capital Management LLC boosted its position in shares of Exelixis by 1.6% during the second quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock worth $608,993,000 after buying an additional 424,000 shares during the period. Renaissance Technologies LLC grew its stake in shares of Exelixis by 0.4% during the 2nd quarter. Renaissance Technologies LLC now owns 15,163,066 shares of the biotechnology company’s stock worth $340,714,000 after acquiring an additional 61,350 shares in the last quarter. LSV Asset Management grew its stake in shares of Exelixis by 107.7% during the 2nd quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock worth $129,511,000 after acquiring an additional 2,989,021 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Exelixis by 7.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,137,201 shares of the biotechnology company’s stock worth $115,434,000 after purchasing an additional 349,837 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Exelixis by 12.7% during the second quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock worth $73,425,000 after purchasing an additional 370,199 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

About Exelixis

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.