Jeffrey Hessekiel Sells 60,000 Shares of Exelixis, Inc. (NASDAQ:EXEL) Stock

Exelixis, Inc. (NASDAQ:EXEL) EVP Jeffrey Hessekiel sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $36.67, for a total value of $2,200,200.00. Following the transaction, the executive vice president now directly owns 486,059 shares in the company, valued at approximately $17,823,783.53. This represents a 10.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Friday, November 1st, Jeffrey Hessekiel sold 50,000 shares of Exelixis stock. The stock was sold at an average price of $34.13, for a total transaction of $1,706,500.00.
• 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 transaction of $709,750.00.
• On Monday, September 23rd, Jeffrey Hessekiel sold 25,000 shares of Exelixis stock. The shares were sold at an average price of $26.38, for a total transaction of $659,500.00.

Exelixis Price Performance

Shares of NASDAQ EXEL opened at $35.26 on Wednesday. Exelixis, Inc. has a 1-year low of $19.20 and a 1-year high of $36.97. The business has a fifty day moving average price of $31.00 and a 200 day moving average price of $26.25. The stock has a market capitalization of $10.07 billion, a P/E ratio of 22.60, a price-to-earnings-growth ratio of 0.90 and a beta of 0.52.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, beating 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 business had revenue of $539.50 million during the quarter, compared to analyst estimates of $490.31 million. During the same period in the prior year, the firm posted $0.10 earnings per share. The company’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, equities research analysts anticipate that Exelixis, Inc. will post 1.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Exelixis

Several institutional investors and hedge funds have recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in shares of Exelixis during the 3rd quarter valued at $30,000. Brooklyn Investment Group purchased a new stake in Exelixis in the third quarter valued at about $42,000. GAMMA Investing LLC raised its stake in Exelixis by 107.9% in the second quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 1,041 shares during the last quarter. Park Place Capital Corp acquired a new stake in Exelixis in the second quarter worth about $45,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Exelixis during the third quarter worth about $61,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EXEL. Piper Sandler upped their target price on Exelixis from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Guggenheim upped their price objective on Exelixis from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley lifted their target price on Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, October 11th. BMO Capital Markets upped their price target on shares of Exelixis from $29.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, UBS Group began coverage on shares of Exelixis in a report on Thursday, September 19th. They set a “neutral” rating and a $30.00 price objective for the company. One analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Exelixis currently has an average rating of “Moderate Buy” and a consensus target price of $31.44.

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.