Exelixis (NASDAQ:EXEL) EVP Dana Aftab Sells 47,918 Shares of Stock

Exelixis, Inc. (NASDAQ:EXEL) EVP Dana Aftab sold 47,918 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $44.50, for a total transaction of $2,132,351.00. Following the completion of the transaction, the executive vice president directly owned 616,106 shares in the company, valued at $27,416,717. The trade was a 7.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Dana Aftab also recently made the following trade(s):

• On Thursday, February 19th, Dana Aftab sold 29,873 shares of Exelixis stock. The shares were sold at an average price of $44.35, for a total value of $1,324,867.55.

Exelixis Trading Down 1.1%

Shares of NASDAQ EXEL opened at $44.28 on Friday. Exelixis, Inc. has a 12-month low of $32.38 and a 12-month high of $49.62. The business’s fifty day simple moving average is $44.09 and its 200-day simple moving average is $41.39. The stock has a market cap of $11.50 billion, a P/E ratio of 15.99, a PEG ratio of 1.01 and a beta of 0.42.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in EXEL. TriaGen Wealth Management LLC bought a new position in shares of Exelixis during the third quarter worth about $2,024,000. BridgePort Financial Solutions LLC bought a new position in Exelixis in the 3rd quarter worth about $517,000. Candriam S.C.A. increased its stake in shares of Exelixis by 18.4% in the third quarter. Candriam S.C.A. now owns 696,104 shares of the biotechnology company’s stock valued at $28,749,000 after purchasing an additional 108,367 shares during the period. Allianz Asset Management GmbH raised its holdings in shares of Exelixis by 153.3% during the third quarter. Allianz Asset Management GmbH now owns 2,462,948 shares of the biotechnology company’s stock valued at $101,720,000 after buying an additional 1,490,520 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of Exelixis during the second quarter worth approximately $321,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EXEL shares. Wall Street Zen raised Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Sunday, February 22nd. HC Wainwright upped their target price on shares of Exelixis from $52.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Truist Financial set a $51.00 price target on Exelixis in a report on Wednesday, January 14th. Citigroup cut Exelixis from a “market outperform” rating to an “underperform” rating in a research report on Monday, January 5th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Exelixis in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $47.11.

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.