Insider Selling: Exelixis (NASDAQ:EXEL) Director Sells 30,250 Shares of Stock

Exelixis, Inc. (NASDAQ:EXEL) Director Bob Oliver sold 30,250 shares of the business’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $43.81, for a total value of $1,325,252.50. Following the completion of the transaction, the director owned 21,120 shares in the company, valued at approximately $925,267.20. This trade represents a 58.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Exelixis Trading Up 0.9%

NASDAQ EXEL traded up $0.39 during mid-day trading on Wednesday, reaching $44.47. 3,267,412 shares of the company’s stock traded hands, compared to its average volume of 2,563,792. Exelixis, Inc. has a 1-year low of $32.38 and a 1-year high of $49.62. The company has a fifty day simple moving average of $43.77 and a 200-day simple moving average of $41.13. The company has a market cap of $11.55 billion, a price-to-earnings ratio of 16.05, a P/E/G ratio of 0.99 and a beta of 0.42.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, February 10th. The biotechnology company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.74 by $0.20. Exelixis had a return on equity of 36.29% and a net margin of 33.73%.The company had revenue of $598.66 million during the quarter, compared to analysts’ expectations of $609.17 million. During the same period in the prior year, the business posted $0.55 EPS. The business’s revenue was up 5.6% on a year-over-year basis. Equities research analysts forecast that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Institutional Trading of Exelixis

Several hedge funds have recently made changes to their positions in the stock. Richardson Financial Services Inc. boosted its holdings in shares of Exelixis by 95.1% during the third quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 292 shares during the period. Anchor Investment Management LLC lifted its position in Exelixis by 500.0% in the 3rd quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 500 shares during the last quarter. Motiv8 Investments LLC acquired a new position in Exelixis during the 4th quarter valued at about $26,000. Root Financial Partners LLC acquired a new position in Exelixis during the 3rd quarter valued at about $28,000. Finally, Acumen Wealth Advisors LLC bought a new position in Exelixis in the 4th quarter worth about $29,000. Institutional investors own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on EXEL shares. Citigroup downgraded shares of Exelixis from a “market outperform” rating to an “underperform” rating in a research report on Monday, January 5th. Stifel Nicolaus boosted their price objective on Exelixis from $43.00 to $44.00 and gave the company a “hold” rating in a report on Wednesday, February 11th. Royal Bank Of Canada increased their target price on Exelixis from $45.00 to $46.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 11th. TD Cowen reiterated a “buy” rating on shares of Exelixis in a report on Wednesday, November 5th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Exelixis in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $47.11.

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.