Exelixis (NASDAQ:EXEL) Director Bob Oliver 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 on 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Exelixis Stock Performance

Exelixis stock opened at $44.47 on Thursday. The stock has a 50-day moving average of $43.77 and a two-hundred day moving average of $41.13. Exelixis, Inc. has a one year low of $32.38 and a one year high of $49.62. The stock has a market cap of $11.55 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 0.99 and a beta of 0.42.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.20. The business had revenue of $598.66 million for the quarter, compared to analyst estimates of $609.17 million. Exelixis had a return on equity of 36.29% and a net margin of 33.73%.The company’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 earnings per share. As a group, sell-side analysts predict that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Institutional Trading of Exelixis

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Richardson Financial Services Inc. raised its position in 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 in the last quarter. Anchor Investment Management LLC grew its stake in shares of Exelixis by 500.0% during the 3rd quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 500 shares during the period. Motiv8 Investments LLC purchased a new position in shares of Exelixis during the 4th quarter valued at approximately $26,000. Root Financial Partners LLC purchased a new position in shares of Exelixis during the 3rd quarter valued at approximately $28,000. Finally, Acumen Wealth Advisors LLC acquired a new position in shares of Exelixis in the 4th quarter valued at $29,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on EXEL shares. HC Wainwright lifted their price objective on shares of Exelixis from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Royal Bank Of Canada lifted their price target on Exelixis from $45.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 11th. Barclays increased their price objective on Exelixis from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Wednesday, February 4th. Wells Fargo & Company lifted their target price on Exelixis from $30.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 11th. Finally, Morgan Stanley increased their price target on shares of Exelixis from $48.00 to $49.00 and gave the stock an “equal weight” rating in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $47.11.

More Exelixis News

Here are the key news stories impacting Exelixis this week:

• Neutral Sentiment: Summary: Multiple SEC Form 4 filings show insider sales totaling roughly $9 million across several executives and directors; the filings do not state the motivation (could be pre?planned sales, diversification, or personal liquidity). CFO Christopher Senner filings
• Negative Sentiment: CFO Christopher J. Senner sold 34,278 shares on Feb 13 at an average $43.00 (~$1.47M) and 30,617 shares on Feb 17 at $43.67 (~$1.34M); combined reduction of ~3.18% and 3.04% of his holdings in separate filings. SEC filing
• Negative Sentiment: EVP Patrick J. Haley sold 67,814 shares on Feb 17 at an average $43.52 (~$2.95M), a ~15.08% cut to his stake. SEC filing
• Negative Sentiment: Director Bob Oliver sold 30,250 shares on Feb 13 at an average $43.81 (~$1.33M), reducing his position by ~58.9%. SEC filing
• Negative Sentiment: SVP Brenda Hefti sold 18,669 shares on Feb 18 at an average $44.01 (~$0.82M), trimming her holding by ~16.2%. SEC filing
• Negative Sentiment: Director Sue Gail Eckhardt sold 3,856 shares on Feb 13 at an average $43.79 (~$0.17M), an ~18.0% reduction of her stake. SEC filing

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.