Jack Wyszomierski Sells 99,574 Shares of Exelixis (NASDAQ:EXEL) Stock

Exelixis, Inc. (NASDAQ:EXEL) Director Jack Wyszomierski sold 99,574 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $44.01, for a total transaction of $4,382,251.74. Following the completion of the sale, the director owned 279,942 shares of the company’s stock, valued at approximately $12,320,247.42. This represents a 26.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Exelixis Price Performance

Shares of Exelixis stock opened at $43.63 on Friday. The company has a market capitalization of $11.33 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 0.98 and a beta of 0.42. The business has a 50-day moving average of $43.88 and a two-hundred day moving average of $41.22. Exelixis, Inc. has a 1 year low of $32.38 and a 1 year high of $49.62.

Exelixis (NASDAQ:EXEL) last posted 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 business had revenue of $598.66 million during the quarter, compared to analysts’ expectations of $609.17 million. During the same period in the prior year, the business earned $0.55 EPS. Exelixis’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, equities analysts anticipate that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on EXEL. TD Cowen reiterated a “buy” rating on shares of Exelixis in a report on Wednesday, November 5th. Stifel Nicolaus boosted their price objective on shares of Exelixis from $43.00 to $44.00 and gave the stock a “hold” rating in a research report on Wednesday, February 11th. Oppenheimer reiterated a “market perform” rating and issued a $36.00 price target on shares of Exelixis in a research note on Wednesday, November 5th. Barclays boosted their price target on shares of Exelixis from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 4th. Finally, Truist Financial set a $51.00 target price on Exelixis in a research report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Exelixis has an average rating of “Hold” and an average price target of $47.11.

Institutional Trading of Exelixis

A number of hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC raised its stake in Exelixis by 48.8% in the 4th quarter. AQR Capital Management LLC now owns 13,658,388 shares of the biotechnology company’s stock valued at $598,647,000 after acquiring an additional 4,477,029 shares during the period. Farallon Capital Management LLC raised its position in shares of Exelixis by 21.6% in the third quarter. Farallon Capital Management LLC now owns 19,501,500 shares of the biotechnology company’s stock valued at $805,412,000 after purchasing an additional 3,466,000 shares during the period. Assetmark Inc. lifted its stake in shares of Exelixis by 1,230.8% during the 3rd quarter. Assetmark Inc. now owns 3,195,971 shares of the biotechnology company’s stock worth $131,994,000 after buying an additional 2,955,813 shares during the last quarter. Norges Bank bought a new stake in shares of Exelixis during the 2nd quarter worth about $122,099,000. Finally, Qube Research & Technologies Ltd grew its stake in Exelixis by 120.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 3,047,222 shares of the biotechnology company’s stock valued at $134,306,000 after buying an additional 1,665,110 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

About Exelixis

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.