Insider Selling: Exelixis (NASDAQ:EXEL) CFO Sells 34,901 Shares of Stock

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

Exelixis Stock Down 2.3%

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

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EXEL. Zacks Research cut Exelixis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Truist Financial upgraded Exelixis to a “strong-buy” rating in a research note on Monday, April 27th. Royal Bank Of Canada dropped their price objective on Exelixis from $46.00 to $43.00 and set a “sector perform” rating on the stock in a research note on Monday, March 2nd. HC Wainwright upped their price objective on Exelixis from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Stifel Nicolaus increased their price target on Exelixis from $44.00 to $47.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $47.35.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in EXEL. AQR Capital Management LLC increased its position 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 buying an additional 4,477,029 shares during the period. Farallon Capital Management LLC increased its position 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 buying an additional 3,466,000 shares during the period. Assetmark Inc. increased its position in Exelixis by 1,230.8% during the 3rd quarter. Assetmark Inc. now owns 3,195,971 shares of the biotechnology company’s stock worth $131,994,000 after buying an additional 2,955,813 shares during the period. Norges Bank acquired a new stake in shares of Exelixis during the 4th quarter worth $106,460,000. Finally, Allianz Asset Management GmbH grew its holdings in shares of Exelixis by 153.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 2,462,948 shares of the biotechnology company’s stock worth $101,720,000 after purchasing an additional 1,490,520 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Exelixis Company Profile

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.