Insider Selling: Exelixis (NASDAQ:EXEL) Director Sells $198,408.75 in Stock

by · The Markets Daily

Exelixis, Inc. (NASDAQ:EXEL – Get Free Report) Director Jack Wyszomierski sold 3,925 shares of Exelixis stock in a transaction on Monday, June 1st. The shares were sold at an average price of $50.55, for a total transaction of $198,408.75. Following the completion of the transaction, the director directly owned 284,384 shares of the company’s stock, valued at $14,375,611.20. The trade was a 1.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Exelixis Stock Performance

EXEL opened at $52.70 on Friday. Exelixis, Inc. has a fifty-two week low of $33.76 and a fifty-two week high of $52.98. The company has a fifty day moving average of $46.96 and a two-hundred day moving average of $44.53. The stock has a market capitalization of $13.25 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 1.51 and a beta of 0.41.

Exelixis (NASDAQ:EXEL – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $607.51 million. During the same quarter in the previous year, the company earned $0.55 earnings per share. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities research analysts forecast that Exelixis, Inc. will post 3.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on EXEL shares. Royal Bank Of Canada cut their price objective on shares of Exelixis from $46.00 to $43.00 and set a “sector perform” rating for the company in a report on Monday, March 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Exelixis in a research report on Tuesday, May 19th. Barclays lifted their target price on shares of Exelixis from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, April 20th. Wells Fargo & Company lifted their target price on shares of Exelixis from $35.00 to $40.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Finally, Zacks Research lowered shares of Exelixis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Exelixis currently has an average rating of “Hold” and a consensus price target of $47.35.

Check Out Our Latest Report on Exelixis

Hedge Funds Weigh In On Exelixis

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sumitomo Mitsui Trust Group Inc. boosted its position in Exelixis by 0.5% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 59,420 shares of the biotechnology company’s stock worth $2,549,000 after acquiring an additional 281 shares during the last quarter. RHS Financial LLC boosted its position in Exelixis by 2.4% during the fourth quarter. RHS Financial LLC now owns 12,619 shares of the biotechnology company’s stock worth $553,000 after acquiring an additional 293 shares during the last quarter. Meeder Advisory Services Inc. boosted its position in Exelixis by 5.8% during the fourth quarter. Meeder Advisory Services Inc. now owns 5,406 shares of the biotechnology company’s stock worth $237,000 after acquiring an additional 298 shares during the last quarter. Cim LLC boosted its position in Exelixis by 0.9% during the third quarter. Cim LLC now owns 35,397 shares of the biotechnology company’s stock worth $1,462,000 after acquiring an additional 305 shares during the last quarter. Finally, J.W. Cole Advisors Inc. boosted its position in Exelixis by 6.5% during the fourth quarter. J.W. Cole Advisors Inc. now owns 5,354 shares of the biotechnology company’s stock worth $235,000 after acquiring an additional 329 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

About Exelixis

(Get Free Report)

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.

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