Key Points
- Exelixis CFO Christopher Senner sold 34,901 shares on May 18 at an average price of $50.00, totaling about $1.75 million. After the sale, he still held 952,317 shares, and the transaction reduced his stake by 3.54%.
- The company recently reported stronger-than-expected quarterly results, with earnings of $0.87 per share versus the $0.75 consensus estimate and revenue of $610.81 million, up 10% year over year.
- Analyst sentiment remains mixed: the stock has a consensus rating of “Hold” with an average price target of $47.35, even as some firms raised targets or maintained bullish ratings.
Exelixis, Inc. (NASDAQ:EXEL - Get Free Report) SVP Brenda Hefti sold 6,625 shares of the business's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $50.21, for a total value of $332,641.25. Following the completion of the sale, the senior vice president owned 106,762 shares of the company's stock, valued at $5,360,520.02. This trade represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Brenda Hefti also recently made the following trade(s):
- On Wednesday, February 18th, Brenda Hefti sold 18,669 shares of Exelixis stock. The shares were sold at an average price of $44.01, for a total value of $821,622.69.
Exelixis Trading Down 2.3%
Shares of NASDAQ EXEL opened at $48.67 on Wednesday. Exelixis, Inc. has a twelve month low of $33.76 and a twelve month high of $51.63. The company has a market capitalization of $12.23 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 1.05 and a beta of 0.38. The business has a 50 day simple moving average of $44.62 and a 200-day simple moving average of $43.64.
Exelixis (NASDAQ:EXEL - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.12. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The business had revenue of $610.81 million during the quarter, compared to the consensus estimate of $607.51 million. During the same period in the previous year, the business earned $0.55 EPS. The business's quarterly revenue was up 10.0% on a year-over-year basis. As a group, equities analysts predict that Exelixis, Inc. will post 3.15 earnings per share for the current year.
Hedge Funds Weigh In On Exelixis
Several hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC boosted its position in Exelixis by 48.8% during the 4th quarter. AQR Capital Management LLC now owns 13,658,388 shares of the biotechnology company's stock worth $598,647,000 after acquiring an additional 4,477,029 shares during the period. Farallon Capital Management LLC boosted its position in Exelixis by 21.6% during the 3rd quarter. Farallon Capital Management LLC now owns 19,501,500 shares of the biotechnology company's stock worth $805,412,000 after acquiring an additional 3,466,000 shares during the period. Assetmark Inc. boosted its position in Exelixis by 1,230.8% during the 3rd quarter. Assetmark Inc. now owns 3,195,971 shares of the biotechnology company's stock worth $131,994,000 after acquiring an additional 2,955,813 shares during the period. Norges Bank acquired a new position in Exelixis during the 4th quarter worth $106,460,000. Finally, Allianz Asset Management GmbH boosted its position in Exelixis by 153.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 2,462,948 shares of the biotechnology company's stock worth $101,720,000 after acquiring an additional 1,490,520 shares during the period. Institutional investors and hedge funds own 85.27% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus boosted their price target on Exelixis from $44.00 to $47.00 and gave the company a "hold" rating in a report on Wednesday, May 6th. Morgan Stanley boosted their price target on Exelixis from $49.00 to $50.00 and gave the company an "equal weight" rating in a report on Wednesday, May 6th. Wells Fargo & Company increased their target price on Exelixis from $35.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 6th. Barclays boosted their price target on shares of Exelixis from $44.00 to $45.00 and gave the company an "equal weight" rating in a report on Monday, April 20th. Finally, HC Wainwright boosted their price target on shares of Exelixis from $54.00 to $56.00 and gave the company a "buy" rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $47.35.
Check Out Our Latest Research Report on EXEL
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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