Key Points
- Director George Poste sold 60,000 Exelixis shares on May 7 at an average price of $45.71, totaling about $2.74 million. After the sale, he still held 118,832 shares, a 33.55% reduction in ownership.
- Exelixis beat Q1 expectations with earnings per share of $0.87 and revenue of $610.8 million, both above analyst estimates. Revenue rose 10% year over year, and the company reported strong profitability metrics.
- The company expanded its shareholder return program by launching a new $750 million share repurchase plan after completing its prior authorization. Analysts also recently raised price targets, while insider selling by several directors added some near-term caution.
Exelixis, Inc. (NASDAQ:EXEL - Get Free Report) Director Mary Beckerle sold 7,712 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $48.45, for a total value of $373,646.40. Following the completion of the transaction, the director owned 17,524 shares of the company's stock, valued at $849,037.80. The trade was a 30.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Exelixis Stock Performance
NASDAQ:EXEL opened at $48.16 on Friday. The stock has a fifty day moving average price of $43.44 and a two-hundred day moving average price of $42.97. The stock has a market capitalization of $12.11 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 0.99 and a beta of 0.38. Exelixis, Inc. has a 1 year low of $33.76 and a 1 year high of $49.62.
Exelixis (NASDAQ:EXEL - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.12. The firm had revenue of $610.81 million during the quarter, compared to analysts' expectations of $607.51 million. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.Exelixis's revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.55 earnings per share. On average, analysts predict that Exelixis, Inc. will post 3.11 EPS for the current year.
Analyst Upgrades and Downgrades
Several analysts have weighed in on EXEL shares. Truist Financial raised Exelixis to a "strong-buy" rating in a report on Monday, April 27th. Wall Street Zen raised Exelixis from a "buy" rating to a "strong-buy" rating in a report on Saturday. Zacks Research lowered Exelixis from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 5th. HC Wainwright increased their price objective on Exelixis from $54.00 to $56.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Morgan Stanley increased their price objective on Exelixis from $49.00 to $50.00 and gave the company an "equal weight" rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $47.83.
Read Our Latest Analysis on EXEL
Key Headlines Impacting Exelixis
Here are the key news stories impacting Exelixis this week:
- Positive Sentiment: Exelixis reported solid Q1 results, with revenue of $610.8 million and earnings per share of $0.87, both ahead of expectations. The company also completed its prior buyback authorization and launched a new $750 million share repurchase program, which can support the stock by reducing share count. Article Title
- Positive Sentiment: Analysts turned more constructive, with HC Wainwright raising its price target to $56 and Morgan Stanley lifting its target to $50, signaling improved confidence in Exelixis’ outlook. Article Title Article Title
- Positive Sentiment: The company also announced upcoming investor conference appearances in May, which may help keep investor attention on its pipeline and strategy. Article Title
- Neutral Sentiment: Several directors disclosed stock sales on May 7, including George Poste, Maria C. Freire, and Mary C. Beckerle. Insider selling can create some near-term caution, but the transactions were disclosed and do not by themselves indicate a change in the business outlook. Article Title Article Title Article Title
Institutional Trading of Exelixis
A number of large investors have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Exelixis by 0.5% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 59,420 shares of the biotechnology company's stock valued at $2,549,000 after acquiring an additional 281 shares during the last quarter. Richardson Financial Services Inc. raised its holdings in shares of Exelixis by 95.1% in the 3rd quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company's stock worth $25,000 after purchasing an additional 292 shares during the period. RHS Financial LLC raised its holdings in shares of Exelixis by 2.4% in the 4th quarter. RHS Financial LLC now owns 12,619 shares of the biotechnology company's stock worth $553,000 after purchasing an additional 293 shares during the period. Meeder Advisory Services Inc. raised its holdings in shares of Exelixis by 5.8% in the 4th quarter. Meeder Advisory Services Inc. now owns 5,406 shares of the biotechnology company's stock worth $237,000 after purchasing an additional 298 shares during the period. Finally, Cim LLC raised its holdings in shares of Exelixis by 0.9% in the 3rd quarter. Cim LLC now owns 35,397 shares of the biotechnology company's stock worth $1,462,000 after purchasing an additional 305 shares during the period. Institutional investors and hedge funds own 85.27% of the company's stock.
About Exelixis
(
Get Free Report)
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.
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