Insider Selling: Exelixis (NASDAQ:EXEL) CFO Sells $1,745,050.00 in Stock

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

Exelixis Stock Performance

Shares of Exelixis stock opened at $49.65 on Friday. The firm has a fifty day moving average of $44.93 and a two-hundred day moving average of $43.80. The stock has a market capitalization of $12.48 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 1.06 and a beta of 0.38. Exelixis, Inc. has a 52 week low of $33.76 and a 52 week high of $51.63.

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EXEL. Royal Bank Of Canada reduced their target price on Exelixis from $46.00 to $43.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. Wells Fargo & Company raised their target price on Exelixis from $35.00 to $40.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Truist Financial upgraded Exelixis to a “strong-buy” rating in a report on Monday, April 27th. Weiss Ratings restated a “buy (b)” rating on shares of Exelixis in a report on Tuesday. Finally, HC Wainwright upped their target price on shares of Exelixis from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Exelixis presently has an average rating of “Hold” and a consensus price target of $47.35.

Institutional Trading of Exelixis

A number of large investors have recently bought and sold shares of EXEL. Anchor Investment Management LLC increased its stake in 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 in the last quarter. Motiv8 Investments LLC bought a new stake in Exelixis during the 4th quarter worth approximately $26,000. Cassaday & Co Wealth Management LLC bought a new stake in Exelixis during the 1st quarter worth approximately $27,000. Root Financial Partners LLC bought a new stake in Exelixis in the 3rd quarter valued at $28,000. Finally, Western Wealth Management LLC bought a new stake in Exelixis in the 1st quarter valued at $29,000. 85.27% of the stock is owned by institutional investors.

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.