Insider Selling: Exelixis (NASDAQ:EXEL) Director Sells $168,854.24 in Stock

Exelixis, Inc. (NASDAQ:EXEL) Director Sue Gail Eckhardt sold 3,856 shares of Exelixis stock in a transaction on Friday, February 13th. The shares were sold at an average price of $43.79, for a total value of $168,854.24. Following the transaction, the director owned 17,524 shares in the company, valued at approximately $767,375.96. This trade represents a 18.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Exelixis Stock Down 1.2%

Shares of Exelixis stock opened at $43.63 on Friday. The business has a fifty day simple moving average of $43.88 and a 200-day simple moving average of $41.20. Exelixis, Inc. has a fifty-two week low of $32.38 and a fifty-two week high of $49.62. The firm has a market cap of $11.33 billion, a price-to-earnings ratio of 15.75, a price-to-earnings-growth ratio of 0.99 and a beta of 0.42.

Exelixis (NASDAQ:EXEL) last released its 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 firm had revenue of $598.66 million for the quarter, compared to analyst estimates of $609.17 million. During the same period in the previous year, the company earned $0.55 earnings per share. Exelixis’s revenue was up 5.6% compared to the same quarter last year. Analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on EXEL shares. Wall Street Zen downgraded Exelixis from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. Guggenheim downgraded Exelixis from a “buy” rating to a “neutral” rating in a report on Monday, November 3rd. Truist Financial set a $51.00 price target on Exelixis in a research report on Wednesday, January 14th. Citigroup cut Exelixis from a “market outperform” rating to an “underperform” rating in a research note on Monday, January 5th. Finally, HC Wainwright boosted their price objective on Exelixis from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $47.11.

Institutional Investors Weigh In On Exelixis

A number of institutional investors have recently bought and sold shares of the business. Motiv8 Investments LLC purchased a new stake in shares of Exelixis in the fourth quarter worth approximately $26,000. Richardson Financial Services Inc. grew its holdings in shares of 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 acquiring an additional 292 shares in the last quarter. Anchor Investment Management LLC increased its stake in shares of Exelixis by 500.0% in the third quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 500 shares during the last quarter. Acumen Wealth Advisors LLC acquired a new position in shares of Exelixis in the fourth quarter worth $29,000. Finally, Root Financial Partners LLC purchased a new stake in shares of Exelixis during the third quarter worth $28,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

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.