Exelixis (NASDAQ:EXEL) Director Sells $2,742,600.00 in Stock

Exelixis, Inc. (NASDAQ:EXEL) Director George Poste sold 60,000 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $45.71, for a total value of $2,742,600.00. Following the sale, the director directly owned 118,832 shares in the company, valued at approximately $5,431,810.72. This trade represents a 33.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Exelixis Price Performance

Shares of EXEL stock opened at $48.16 on Monday. Exelixis, Inc. has a twelve month low of $33.76 and a twelve month high of $49.62. The stock’s fifty day simple moving average is $43.44 and its 200 day simple moving average is $42.97. The firm has a market capitalization of $12.11 billion, a P/E ratio of 16.00, a P/E/G ratio of 1.03 and a beta of 0.38.

Exelixis (NASDAQ:EXEL) last posted 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 firm had revenue of $610.81 million during the quarter, compared to the consensus estimate of $607.51 million. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the company earned $0.55 earnings per share. As a group, equities research analysts expect that Exelixis, Inc. will post 3.11 EPS for the current fiscal year.

Key Exelixis News

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Exelixis reported solid Q1 results, with revenue of $610.8 million and earnings per share of $0.87, both ahead of expectations. The company also completed its prior buyback authorization and launched a new $750 million share repurchase program, which can support the stock by reducing share count. Article Title
• Positive Sentiment: Analysts turned more constructive, with HC Wainwright raising its price target to $56 and Morgan Stanley lifting its target to $50, signaling improved confidence in Exelixis’ outlook. Article Title Article Title
• Positive Sentiment: The company also announced upcoming investor conference appearances in May, which may help keep investor attention on its pipeline and strategy. Article Title
• Neutral Sentiment: Several directors disclosed stock sales on May 7, including George Poste, Maria C. Freire, and Mary C. Beckerle. Insider selling can create some near-term caution, but the transactions were disclosed and do not by themselves indicate a change in the business outlook. Article Title Article Title Article Title

Analyst Ratings Changes

EXEL has been the topic of a number of research reports. Stifel Nicolaus boosted their target price on shares of Exelixis from $44.00 to $47.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. Wells Fargo & Company lifted their price target on shares of Exelixis from $35.00 to $40.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. HC Wainwright boosted their price objective on shares of Exelixis from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays increased their price objective on Exelixis from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Monday, April 20th. Finally, Wall Street Zen raised Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $47.83.

Hedge Funds Weigh In On Exelixis

Institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Exelixis by 81.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,181 shares of the biotechnology company’s stock valued at $1,592,000 after purchasing an additional 19,407 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Exelixis by 4.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company’s stock worth $54,153,000 after buying an additional 68,133 shares during the last quarter. Focus Partners Wealth lifted its stake in shares of Exelixis by 83.4% in the first quarter. Focus Partners Wealth now owns 38,458 shares of the biotechnology company’s stock valued at $1,420,000 after buying an additional 17,483 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Exelixis by 134.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company’s stock valued at $61,000 after buying an additional 944 shares during the last quarter. Finally, Sivia Capital Partners LLC grew its holdings in shares of Exelixis by 23.8% during the second quarter. Sivia Capital Partners LLC now owns 14,362 shares of the biotechnology company’s stock valued at $633,000 after buying an additional 2,764 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

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.