Insider Selling: Exelixis, Inc. (NASDAQ:EXEL) EVP Sells 50,000 Shares of Stock

Exelixis, Inc. (NASDAQ:EXEL) EVP Jeffrey Hessekiel sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $34.13, for a total value of $1,706,500.00. Following the sale, the executive vice president now directly owns 530,325 shares in the company, valued at $18,099,992.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Jeffrey Hessekiel also recently made the following trade(s):

• On Monday, October 28th, Jeffrey Hessekiel sold 25,000 shares of Exelixis stock. The stock was sold at an average price of $28.39, for a total value of $709,750.00.
• On Monday, September 23rd, Jeffrey Hessekiel sold 25,000 shares of Exelixis stock. The stock was sold at an average price of $26.38, for a total value of $659,500.00.
• On Monday, August 26th, Jeffrey Hessekiel sold 20,000 shares of Exelixis stock. The stock was sold at an average price of $25.79, for a total value of $515,800.00.

Exelixis Stock Up 1.4 %

EXEL stock opened at $34.77 on Wednesday. The company has a market cap of $9.93 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 0.92 and a beta of 0.51. The business has a fifty day simple moving average of $27.30 and a 200-day simple moving average of $24.39. Exelixis, Inc. has a 52 week low of $19.20 and a 52 week high of $35.15.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The firm had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. During the same period in the prior year, the firm earned $0.10 EPS. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. As a group, analysts expect that Exelixis, Inc. will post 1.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. BMO Capital Markets boosted their price target on Exelixis from $29.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Oppenheimer reissued an “outperform” rating and set a $29.00 price target on shares of Exelixis in a research note on Tuesday, July 30th. Bank of America upped their target price on Exelixis from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. The Goldman Sachs Group raised Exelixis to a “strong sell” rating in a research note on Tuesday, October 15th. Finally, StockNews.com raised Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 13th. One analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $31.44.

Institutional Trading of Exelixis

Several large investors have recently added to or reduced their stakes in EXEL. First Trust Direct Indexing L.P. acquired a new stake in Exelixis in the 1st quarter valued at $250,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Exelixis by 3.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,771 shares of the biotechnology company’s stock valued at $778,000 after purchasing an additional 1,301 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Exelixis by 6.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 60,746 shares of the biotechnology company’s stock valued at $1,442,000 after purchasing an additional 3,510 shares in the last quarter. Nordea Investment Management AB boosted its position in Exelixis by 17.3% in the 1st quarter. Nordea Investment Management AB now owns 202,292 shares of the biotechnology company’s stock valued at $4,835,000 after buying an additional 29,784 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Exelixis in the 1st quarter valued at about $1,281,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

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.