Patrick J. Haley Sells 41,588 Shares of Exelixis, Inc. (NASDAQ:EXEL) Stock

Exelixis, Inc. (NASDAQ:EXEL) EVP Patrick J. Haley sold 41,588 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.36, for a total transaction of $1,428,963.68. Following the completion of the sale, the executive vice president now directly owns 288,665 shares in the company, valued at $9,918,529.40. This represents a 12.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Exelixis Price Performance

NASDAQ:EXEL opened at $34.65 on Thursday. Exelixis, Inc. has a 1-year low of $19.20 and a 1-year high of $36.60. The company has a 50-day moving average of $29.55 and a 200 day moving average of $25.41. The firm has a market cap of $9.90 billion, a PE ratio of 22.21, a price-to-earnings-growth ratio of 0.88 and a beta of 0.51.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $490.31 million. During the same period in the previous year, the company posted $0.10 earnings per share. The firm’s revenue was up 14.3% on a year-over-year basis. Sell-side analysts anticipate that Exelixis, Inc. will post 1.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Exelixis

Hedge funds and other institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new stake in Exelixis in the 3rd quarter worth approximately $30,000. Brooklyn Investment Group purchased a new stake in Exelixis in the 3rd quarter worth approximately $42,000. Park Place Capital Corp purchased a new stake in Exelixis in the 2nd quarter worth approximately $45,000. GAMMA Investing LLC lifted its position in shares of Exelixis by 107.9% during the 2nd 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 in the last quarter. Finally, EntryPoint Capital LLC lifted its position in shares of Exelixis by 537.2% during the 1st quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock valued at $49,000 after buying an additional 1,746 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on EXEL shares. Oppenheimer reaffirmed an “outperform” rating and issued a $29.00 target price on shares of Exelixis in a research report on Tuesday, July 30th. JMP Securities reiterated a “market outperform” rating and issued a $29.00 price target on shares of Exelixis in a research note on Friday, October 11th. Truist Financial upped their price target on shares of Exelixis from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Bank of America upped their price target on shares of Exelixis from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $34.00 price target on shares of Exelixis in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock 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.