Insider Selling: Exelixis, Inc. (EXEL) Director Sells 15,000 Shares of Stock
Exelixis, Inc. (NASDAQ:EXEL) Director Alan M. Garber sold 15,000 shares of Exelixis stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $30.30, for a total transaction of $454,500.00. Following the transaction, the director now owns 64,829 shares in the company, valued at approximately $1,964,318.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of Exelixis, Inc. (EXEL) opened at $30.08 on Friday. The stock has a market cap of $8,900.00, a price-to-earnings ratio of 61.39, a price-to-earnings-growth ratio of 0.95 and a beta of 1.88. Exelixis, Inc. has a fifty-two week low of $16.72 and a fifty-two week high of $32.50.
Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.18. The company had revenue of $152.50 million for the quarter, compared to the consensus estimate of $104.91 million. Exelixis had a net margin of 36.80% and a return on equity of 105.47%. Exelixis’s revenue for the quarter was up 145.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) EPS. equities analysts expect that Exelixis, Inc. will post 0.49 EPS for the current year.
Several institutional investors have recently bought and sold shares of the company. Mackenzie Financial Corp increased its holdings in shares of Exelixis by 24.1% in the 3rd quarter. Mackenzie Financial Corp now owns 10,116 shares of the biotechnology company’s stock worth $245,000 after buying an additional 1,963 shares during the last quarter. Stifel Financial Corp increased its holdings in shares of Exelixis by 2.8% in the 3rd quarter. Stifel Financial Corp now owns 72,974 shares of the biotechnology company’s stock worth $1,768,000 after buying an additional 2,009 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Exelixis by 17.7% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 14,128 shares of the biotechnology company’s stock worth $348,000 after buying an additional 2,129 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Exelixis by 8.7% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 26,607 shares of the biotechnology company’s stock worth $645,000 after buying an additional 2,138 shares during the last quarter. Finally, Swiss National Bank increased its holdings in shares of Exelixis by 0.5% in the 3rd quarter. Swiss National Bank now owns 489,200 shares of the biotechnology company’s stock worth $11,853,000 after buying an additional 2,300 shares during the last quarter. Hedge funds and other institutional investors own 81.15% of the company’s stock.
A number of research analysts recently weighed in on EXEL shares. BidaskClub upgraded shares of Exelixis from a “hold” rating to a “buy” rating in a research note on Friday, January 5th. Leerink Swann downgraded shares of Exelixis from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $34.00 to $28.00 in a report on Friday, September 22nd. TheStreet upgraded shares of Exelixis from a “c+” rating to a “b-” rating in a report on Wednesday, October 18th. Zacks Investment Research upgraded shares of Exelixis from a “hold” rating to a “strong-buy” rating and set a $35.00 price target on the stock in a report on Tuesday, January 2nd. Finally, Piper Jaffray Companies reiterated an “overweight” rating on shares of Exelixis in a report on Monday, October 16th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $32.13.
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Exelixis, Inc is a biopharmaceutical company. The Company is focused on discovery, development and commercialization of new medicines to manage care and outcomes for people with cancer. The Company’s cabozantinib product is an inhibitor of multiple tyrosine kinases, including MET, AXL, and VEGF receptors.
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