Insider Selling: Exelixis (NASDAQ:EXEL) Director Sells $491,973.68 in Stock

Exelixis, Inc. (NASDAQ:EXEL) Director Sue Gail Eckhardt sold 9,812 shares of Exelixis stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $50.14, for a total transaction of $491,973.68. Following the sale, the director owned 16,079 shares of the company’s stock, valued at approximately $806,201.06. The trade was a 37.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Exelixis Trading Up 0.4%

EXEL stock opened at $52.70 on Friday. The firm has a 50 day moving average of $46.96 and a 200-day moving average of $44.53. Exelixis, Inc. has a 12-month low of $33.76 and a 12-month high of $52.98. The company has a market cap of $13.25 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 1.51 and a beta of 0.41.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.12. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The company had revenue of $610.81 million during the quarter, compared to the consensus estimate of $607.51 million. During the same period last year, the firm earned $0.55 EPS. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. Sell-side analysts forecast that Exelixis, Inc. will post 3.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

EXEL has been the subject of a number of recent research reports. HC Wainwright raised their price objective on shares of Exelixis from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Morgan Stanley raised their price objective on shares of Exelixis from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Wall Street Zen raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Truist Financial raised shares of Exelixis to a “strong-buy” rating in a research note on Monday, April 27th. Finally, Wells Fargo & Company raised their price objective on shares of Exelixis from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $47.35.

Institutional Trading of Exelixis

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC grew its stake in Exelixis by 5.7% in the 1st quarter. Parallel Advisors LLC now owns 9,115 shares of the biotechnology company’s stock worth $391,000 after acquiring an additional 495 shares during the period. Ramiah Investment Group purchased a new stake in Exelixis in the 1st quarter worth approximately $225,000. Glenmede Trust Co. NA grew its stake in Exelixis by 10.1% in the 1st quarter. Glenmede Trust Co. NA now owns 8,217 shares of the biotechnology company’s stock worth $352,000 after acquiring an additional 757 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in Exelixis in the 1st quarter worth approximately $281,000. Finally, BankChampaign National Association purchased a new stake in Exelixis in the 1st quarter worth approximately $639,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

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.