Insider Selling: Exelixis (NASDAQ:EXEL) CFO Sells $1,337,044.39 in Stock

Exelixis, Inc. (NASDAQ:EXEL) CFO Christopher Senner sold 30,617 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $43.67, for a total value of $1,337,044.39. Following the transaction, the chief financial officer owned 976,092 shares of the company’s stock, valued at $42,625,937.64. This represents a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Exelixis Stock Performance

Shares of EXEL opened at $43.63 on Friday. The stock has a market capitalization of $11.33 billion, a PE ratio of 15.75, a P/E/G ratio of 0.99 and a beta of 0.42. The company’s fifty day moving average is $43.88 and its 200 day moving average is $41.20. Exelixis, Inc. has a fifty-two week low of $32.38 and a fifty-two week high of $49.62.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Morgan Stanley upped their price objective on Exelixis from $48.00 to $49.00 and gave the company an “equal weight” rating in a research report on Monday, February 2nd. Wells Fargo & Company raised their price target on Exelixis from $30.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 11th. Oppenheimer reiterated a “market perform” rating and set a $36.00 price objective on shares of Exelixis in a research report on Wednesday, November 5th. Royal Bank Of Canada increased their target price on shares of Exelixis from $45.00 to $46.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 11th. Finally, Wall Street Zen cut shares of Exelixis from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $47.11.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EXEL. Richardson Financial Services Inc. lifted its holdings in Exelixis by 95.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 292 shares in the last quarter. Anchor Investment Management LLC raised its stake in shares of Exelixis by 500.0% during the third quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 500 shares in the last quarter. Motiv8 Investments LLC bought a new stake in shares of Exelixis during the fourth quarter valued at approximately $26,000. Root Financial Partners LLC purchased a new stake in shares of Exelixis in the third quarter valued at approximately $28,000. Finally, Acumen Wealth Advisors LLC bought a new position in Exelixis in the fourth quarter worth approximately $29,000. Hedge funds and other 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.