Insider Selling: Exelixis (NASDAQ:EXEL) Director Sells $526,511.92 in Stock

Exelixis, Inc. (NASDAQ:EXEL) Director Mary Beckerle sold 9,812 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $53.66, for a total transaction of $526,511.92. Following the transaction, the director owned 16,079 shares in the company, valued at approximately $862,799.14. The trade was a 37.90% decrease in their ownership of the stock. The sale was disclosed in a legal 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 Trading Up 1.2%

NASDAQ EXEL opened at $51.24 on Friday. The firm’s fifty day moving average price is $54.19 and its two-hundred day moving average price is $48.19. Exelixis, Inc. has a 1 year low of $33.76 and a 1 year high of $57.57. The firm has a market capitalization of $12.70 billion, a P/E ratio of 16.11, a price-to-earnings-growth ratio of 1.51 and a beta of 0.44.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The firm had revenue of $628.69 million during the quarter, compared to analysts’ expectations of $636.40 million. During the same quarter last year, the company posted $0.75 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, research analysts anticipate that Exelixis, Inc. will post 3.18 EPS for the current fiscal year.

Institutional Trading of Exelixis

Several hedge funds and other institutional investors have recently modified their holdings of EXEL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Exelixis by 81.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,181 shares of the biotechnology company’s stock valued at $1,592,000 after acquiring an additional 19,407 shares during the period. Goldman Sachs Group Inc. lifted its position in Exelixis by 4.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company’s stock worth $54,153,000 after acquiring an additional 68,133 shares during the last quarter. Focus Partners Wealth boosted its holdings in shares of Exelixis by 83.4% during the first quarter. Focus Partners Wealth now owns 38,458 shares of the biotechnology company’s stock worth $1,420,000 after acquiring an additional 17,483 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Exelixis by 134.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company’s stock worth $61,000 after acquiring an additional 944 shares during the period. Finally, Sivia Capital Partners LLC grew its position in shares of Exelixis by 23.8% in the second quarter. Sivia Capital Partners LLC now owns 14,362 shares of the biotechnology company’s stock valued at $633,000 after purchasing an additional 2,764 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

EXEL has been the subject of a number of research analyst reports. Barclays lifted their price target on Exelixis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 14th. TD Cowen upped their price objective on Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. UBS Group set a $55.00 price objective on Exelixis in a research report on Monday, August 3rd. Leerink Partners cut Exelixis from an “outperform” rating to a “market perform” rating and set a $52.00 price objective for the company. in a research report on Thursday, August 6th. Finally, Weiss Ratings upgraded Exelixis from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $49.79.

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.