Christopher Senner Sells 34,901 Shares of Exelixis (NASDAQ:EXEL) Stock

Exelixis, Inc. (NASDAQ:EXEL) CFO Christopher Senner sold 34,901 shares of Exelixis stock in a transaction on Monday, May 18th. The stock was sold at an average price of $50.00, for a total transaction of $1,745,050.00. Following the sale, the chief financial officer owned 952,317 shares in the company, valued at $47,615,850. This represents a 3.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Exelixis Stock Performance

Shares of NASDAQ:EXEL traded down $1.17 on Tuesday, hitting $48.67. The stock had a trading volume of 2,843,823 shares, compared to its average volume of 2,975,992. Exelixis, Inc. has a twelve month low of $33.76 and a twelve month high of $51.63. The firm’s 50 day moving average price is $44.62 and its 200-day moving average price is $43.64. The company has a market capitalization of $12.23 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 1.05 and a beta of 0.38.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.75 by $0.12. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The company had revenue of $610.81 million for the quarter, compared to the consensus estimate of $607.51 million. During the same quarter in the previous year, the company earned $0.55 EPS. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, sell-side analysts predict that Exelixis, Inc. will post 3.15 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on EXEL shares. Barclays boosted their target price on shares of Exelixis from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, April 20th. Stifel Nicolaus boosted their target price on shares of Exelixis from $44.00 to $47.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. Truist Financial raised Exelixis to a “strong-buy” rating in a report on Monday, April 27th. HC Wainwright lifted their price target on Exelixis from $54.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Wall Street Zen raised Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $47.35.

Institutional Trading of Exelixis

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farallon Capital Management LLC raised its holdings in Exelixis by 21.6% during the 3rd quarter. Farallon Capital Management LLC now owns 19,501,500 shares of the biotechnology company’s stock worth $805,412,000 after purchasing an additional 3,466,000 shares during the last quarter. AQR Capital Management LLC raised its holdings in Exelixis by 48.8% during the 4th quarter. AQR Capital Management LLC now owns 13,658,388 shares of the biotechnology company’s stock worth $598,647,000 after purchasing an additional 4,477,029 shares during the last quarter. Invesco Ltd. raised its holdings in Exelixis by 1.6% during the 4th quarter. Invesco Ltd. now owns 6,054,743 shares of the biotechnology company’s stock worth $265,379,000 after purchasing an additional 94,218 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Exelixis by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,299,597 shares of the biotechnology company’s stock worth $184,391,000 after purchasing an additional 39,920 shares during the last quarter. Finally, Morgan Stanley raised its holdings in Exelixis by 31.0% during the 4th quarter. Morgan Stanley now owns 4,206,656 shares of the biotechnology company’s stock worth $184,378,000 after purchasing an additional 995,949 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

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.