Exelixis, Inc. (EXEL) CEO Michael Morrissey Sells 40,000 Shares

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Exelixis, Inc. (NASDAQ:EXEL) CEO Michael Morrissey sold 40,000 shares of Exelixis stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $24.64, for a total value of $985,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Michael Morrissey also recently made the following trade(s):

  • On Wednesday, February 27th, Michael Morrissey sold 40,000 shares of Exelixis stock. The stock was sold at an average price of $22.69, for a total value of $907,600.00.
  • On Thursday, February 14th, Michael Morrissey sold 40,000 shares of Exelixis stock. The stock was sold at an average price of $22.39, for a total value of $895,600.00.
  • On Wednesday, January 30th, Michael Morrissey sold 40,000 shares of Exelixis stock. The stock was sold at an average price of $23.12, for a total value of $924,800.00.
  • On Wednesday, January 16th, Michael Morrissey sold 40,000 shares of Exelixis stock. The stock was sold at an average price of $23.29, for a total value of $931,600.00.
  • On Wednesday, January 2nd, Michael Morrissey sold 6,046 shares of Exelixis stock. The stock was sold at an average price of $20.00, for a total value of $120,920.00.
  • On Friday, January 4th, Michael Morrissey sold 40,000 shares of Exelixis stock. The stock was sold at an average price of $20.11, for a total value of $804,400.00.

Shares of EXEL stock traded down $0.23 on Friday, reaching $24.53. The stock had a trading volume of 4,141,757 shares, compared to its average volume of 4,072,850. The company has a market cap of $7.45 billion, a P/E ratio of 17.15, a price-to-earnings-growth ratio of 0.77 and a beta of 2.22. Exelixis, Inc. has a 1 year low of $13.42 and a 1 year high of $25.19. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.50 and a quick ratio of 8.41.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, February 12th. The biotechnology company reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.14. The firm had revenue of $228.60 million for the quarter, compared to the consensus estimate of $188.44 million. Exelixis had a return on equity of 48.90% and a net margin of 80.95%. The company’s revenue for the quarter was up 90.4% on a year-over-year basis. During the same period last year, the business posted $0.12 EPS. As a group, analysts expect that Exelixis, Inc. will post 1.04 earnings per share for the current year.

EXEL has been the subject of a number of research analyst reports. Oppenheimer set a $40.00 target price on Exelixis and gave the stock a “buy” rating in a report on Thursday, November 15th. ValuEngine raised Exelixis from a “strong sell” rating to a “sell” rating in a report on Saturday, December 1st. Piper Jaffray Companies restated an “overweight” rating and issued a $48.00 price target on shares of Exelixis in a research note on Friday, March 1st. Zacks Investment Research upgraded Exelixis from a “strong sell” rating to a “hold” rating in a research note on Monday, March 4th. Finally, BidaskClub upgraded Exelixis from a “hold” rating to a “buy” rating in a research note on Wednesday, January 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $29.20.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JOYN Advisors Inc. lifted its position in Exelixis by 334.2% during the fourth quarter. JOYN Advisors Inc. now owns 1,524 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 1,173 shares in the last quarter. FTB Advisors Inc. lifted its position in Exelixis by 312.0% during the fourth quarter. FTB Advisors Inc. now owns 1,545 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 1,170 shares in the last quarter. Cornerstone Advisors Inc. purchased a new position in Exelixis during the fourth quarter valued at $38,000. Financial Gravity Companies Inc. purchased a new position in Exelixis during the fourth quarter valued at $50,000. Finally, Laurel Wealth Advisors LLC purchased a new position in Exelixis during the fourth quarter valued at $59,000. Institutional investors own 75.68% of the company’s stock.

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About Exelixis

Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. The company's products include CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of patients with progressive and metastatic medullary thyroid cancer.

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