Exelixis (NASDAQ:EXEL) Shares Down 5.3% – What’s Next?

Exelixis, Inc. (NASDAQ:EXEL)’s stock price traded down 5.3% during trading on Tuesday . The stock traded as low as $37.80 and last traded at $37.09. 233,029 shares changed hands during trading, a decline of 89% from the average session volume of 2,074,193 shares. The stock had previously closed at $39.16.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Brookline Capital Management started coverage on Exelixis in a research report on Monday, December 23rd. They issued a “buy” rating on the stock. UBS Group raised their target price on shares of Exelixis from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Guggenheim reiterated a “buy” rating and issued a $42.00 target price on shares of Exelixis in a research report on Wednesday, February 12th. Barclays boosted their target price on shares of Exelixis from $25.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 13th. Finally, Stifel Nicolaus upped their price objective on Exelixis from $30.00 to $36.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.24.

Exelixis Price Performance

The stock has a market capitalization of $10.31 billion, a P/E ratio of 20.85, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. The business’s 50 day moving average price is $35.10 and its 200 day moving average price is $32.21.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. As a group, analysts forecast that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Activity at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 52,636 shares of Exelixis stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $36.98, for a total transaction of $1,946,479.28. Following the completion of the sale, the executive vice president now directly owns 303,310 shares in the company, valued at approximately $11,216,403.80. The trade was a 14.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jack L. Wyszomierski sold 8,768 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $37.80, for a total value of $331,430.40. Following the completion of the transaction, the director now directly owns 356,605 shares of the company’s stock, valued at approximately $13,479,669. This represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 140,343 shares of company stock worth $5,177,234 over the last three months. 2.85% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Coppell Advisory Solutions LLC acquired a new stake in shares of Exelixis during the fourth quarter worth about $25,000. Colonial Trust Co SC raised its holdings in shares of Exelixis by 616.9% in the fourth quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company’s stock worth $30,000 after acquiring an additional 765 shares during the last quarter. Principal Securities Inc. lifted its position in shares of Exelixis by 62.8% in the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 373 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of Exelixis in the fourth quarter valued at $32,000. Finally, Kestra Investment Management LLC purchased a new stake in Exelixis during the 4th quarter worth about $39,000. Hedge funds and other 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.