Insider Selling: Exelixis, Inc. (NASDAQ:EXEL) EVP Sells 41,588 Shares of Stock

Exelixis, Inc. (NASDAQ:EXEL) EVP Patrick J. Haley sold 41,588 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.36, for a total transaction of $1,428,963.68. Following the completion of the sale, the executive vice president now owns 288,665 shares in the company, valued at $9,918,529.40. This represents a 12.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Exelixis Stock Down 0.3 %

Shares of EXEL stock opened at $34.41 on Wednesday. The stock has a 50-day simple moving average of $29.39 and a 200 day simple moving average of $25.35. Exelixis, Inc. has a fifty-two week low of $19.20 and a fifty-two week high of $36.60. The stock has a market capitalization of $9.83 billion, a P/E ratio of 22.06, a P/E/G ratio of 0.88 and a beta of 0.51.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The company had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $490.31 million. During the same quarter in the previous year, the company posted $0.10 EPS. The business’s revenue was up 14.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Exelixis, Inc. will post 1.68 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Stephens increased their target price on Exelixis from $23.00 to $29.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. JMP Securities reaffirmed a “market outperform” rating and set a $29.00 price objective on shares of Exelixis in a research note on Friday, October 11th. Guggenheim boosted their target price on shares of Exelixis from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Piper Sandler raised their price target on shares of Exelixis from $33.00 to $36.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, BMO Capital Markets boosted their price objective on shares of Exelixis from $29.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Exelixis presently has an average rating of “Moderate Buy” and a consensus price target of $31.44.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EXEL. Farallon Capital Management LLC grew its holdings in shares of Exelixis by 1.6% in the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock worth $608,993,000 after acquiring an additional 424,000 shares during the last quarter. Renaissance Technologies LLC increased its stake in Exelixis by 0.4% in the 2nd quarter. Renaissance Technologies LLC now owns 15,163,066 shares of the biotechnology company’s stock worth $340,714,000 after purchasing an additional 61,350 shares in the last quarter. LSV Asset Management raised its holdings in Exelixis by 107.7% during the 2nd quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock worth $129,511,000 after buying an additional 2,989,021 shares during the period. Dimensional Fund Advisors LP lifted its stake in Exelixis by 7.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,137,201 shares of the biotechnology company’s stock valued at $115,434,000 after buying an additional 349,837 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Exelixis by 12.7% in the second quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock worth $73,425,000 after buying an additional 370,199 shares during the period. Institutional investors own 85.27% of the company’s stock.

About Exelixis

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.