Exelixis, Inc. (NASDAQ:EXEL) EVP Sells $1,706,500.00 in Stock

Exelixis, Inc. (NASDAQ:EXEL) EVP Jeffrey Hessekiel sold 50,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $34.13, for a total value of $1,706,500.00. Following the sale, the executive vice president now directly owns 530,325 shares in the company, valued at approximately $18,099,992.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, October 28th, Jeffrey Hessekiel sold 25,000 shares of Exelixis stock. The stock was sold at an average price of $28.39, for a total value of $709,750.00.
• On Monday, September 23rd, Jeffrey Hessekiel sold 25,000 shares of Exelixis stock. The stock was 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 shares were sold at an average price of $25.79, for a total value of $515,800.00.

Exelixis Price Performance

NASDAQ EXEL traded up $0.48 during trading hours on Tuesday, reaching $34.77. The company’s stock had a trading volume of 2,754,724 shares, compared to its average volume of 2,076,046. The firm has a fifty day simple moving average of $27.30 and a 200-day simple moving average of $24.39. The stock has a market cap of $9.93 billion, a P/E ratio of 22.08, a P/E/G ratio of 0.92 and a beta of 0.51. Exelixis, Inc. has a 52 week low of $19.20 and a 52 week high of $35.15.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The firm had revenue of $539.50 million during the quarter, compared to analyst estimates of $490.31 million. During the same quarter last year, the business earned $0.10 EPS. The company’s revenue was up 14.3% compared to the same quarter last year. On average, research analysts expect that Exelixis, Inc. will post 1.59 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EXEL. 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 report on Friday, October 11th. BMO Capital Markets increased their price target on Exelixis from $29.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their target price on Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada restated an “outperform” rating and issued a $34.00 price target on shares of Exelixis in a research report on Wednesday, October 30th. Finally, Stephens upped their price objective on shares of Exelixis from $23.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $31.44.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EXEL. Buck Wealth Strategies LLC bought a new stake in shares of Exelixis in the 3rd quarter valued at $221,000. Victory Capital Management Inc. grew its position in Exelixis by 16.6% in the 3rd quarter. Victory Capital Management Inc. now owns 136,178 shares of the biotechnology company’s stock valued at $3,534,000 after purchasing an additional 19,372 shares during the period. Entropy Technologies LP acquired a new stake in Exelixis in the 3rd quarter valued at $475,000. Los Angeles Capital Management LLC grew its position in Exelixis by 124.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock valued at $46,473,000 after purchasing an additional 991,494 shares during the period. Finally, Covestor Ltd boosted its holdings in Exelixis by 5.7% during the 3rd quarter. Covestor Ltd now owns 6,335 shares of the biotechnology company’s stock worth $164,000 after acquiring an additional 341 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.