Exelixis (NASDAQ:EXEL) EVP Dana Aftab Sells 29,873 Shares of Stock

Exelixis, Inc. (NASDAQ:EXEL) EVP Dana Aftab sold 29,873 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $44.35, for a total transaction of $1,324,867.55. Following the completion of the transaction, the executive vice president owned 664,024 shares in the company, valued at $29,449,464.40. This represents a 4.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Exelixis Stock Up 0.9%

Shares of Exelixis stock opened at $44.01 on Tuesday. The business has a fifty day simple moving average of $43.93 and a 200 day simple moving average of $41.29. The stock has a market cap of $11.43 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 0.98 and a beta of 0.42. Exelixis, Inc. has a 12 month low of $32.38 and a 12 month 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 the consensus estimate of $0.74 by $0.20. The company had revenue of $598.66 million during the quarter, compared to analyst estimates of $609.17 million. Exelixis had a return on equity of 36.29% and a net margin of 33.73%.The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.55 EPS. Analysts expect that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

EXEL has been the subject of several research analyst reports. Oppenheimer reiterated a “market perform” rating and issued a $36.00 price target on shares of Exelixis in a report on Wednesday, November 5th. TD Cowen reaffirmed a “buy” rating on shares of Exelixis in a research report on Wednesday, November 5th. Wall Street Zen raised Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Bank of America downgraded shares of Exelixis from a “neutral” rating to an “underperform” rating and set a $41.00 price objective for the company. in a research note on Monday, January 5th. Finally, Truist Financial set a $51.00 price target 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 issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $47.11.

Institutional Investors Weigh In On Exelixis

A number of hedge funds and other institutional investors have recently made changes to their positions in EXEL. Richardson Financial Services Inc. lifted its position 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 during the period. Anchor Investment Management LLC grew its holdings in shares of Exelixis by 500.0% during the 3rd quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 500 shares during the last quarter. Motiv8 Investments LLC acquired a new position in shares of Exelixis during the fourth quarter worth $26,000. Root Financial Partners LLC acquired a new stake in shares of Exelixis during the third quarter valued at about $28,000. Finally, Acumen Wealth Advisors LLC acquired a new stake in Exelixis during the 4th quarter worth approximately $29,000. 85.27% of the stock is currently 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.