Key Points
- Exelixis EVP Patrick Haley sold 32,110 shares on May 20 at an average price of $49.81, generating about $1.6 million and reducing his stake by 8.24%.
- The stock was up 1% and recently traded near its 52-week high, opening at $50.15 versus a high of $51.63.
- Exelixis posted strong quarterly results, with earnings of $0.87 per share beating estimates and revenue rising 10% year over year; analysts currently have a consensus rating of “Hold” with a $47.35 target price.
Exelixis, Inc. (NASDAQ:EXEL - Get Free Report) EVP Patrick Haley sold 32,110 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $49.81, for a total transaction of $1,599,399.10. Following the completion of the sale, the executive vice president directly owned 357,638 shares in the company, valued at approximately $17,813,948.78. This trade represents a 8.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Exelixis Stock Up 1.0%
Shares of NASDAQ:EXEL opened at $50.15 on Friday. Exelixis, Inc. has a fifty-two week low of $33.76 and a fifty-two week high of $51.63. The firm's 50 day moving average price is $45.10 and its 200 day moving average price is $43.84. The stock has a market cap of $12.61 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 1.05 and a beta of 0.38.
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 for the quarter, topping 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 for the quarter, compared to analysts' expectations of $607.51 million. During the same quarter last year, the company earned $0.55 earnings per share. The firm's revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities analysts anticipate that Exelixis, Inc. will post 3.15 EPS for the current year.
Wall Street Analysts Forecast Growth
EXEL has been the topic of a number of research reports. TD Cowen raised their target price on shares of Exelixis from $51.00 to $55.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. HC Wainwright boosted their target price on shares of Exelixis from $54.00 to $56.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Barclays lifted their price target on Exelixis from $44.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Monday, April 20th. Royal Bank Of Canada cut their price target on Exelixis from $46.00 to $43.00 and set a "sector perform" rating for the company in a research note on Monday, March 2nd. Finally, Morgan Stanley boosted their target price on shares of Exelixis from $49.00 to $50.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $47.35.
Read Our Latest Report on Exelixis
Hedge Funds Weigh In On Exelixis
A number of institutional investors and hedge funds have recently bought and sold shares of EXEL. AQR Capital Management LLC boosted its holdings in Exelixis by 48.8% in 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 lifted its position in shares of Exelixis by 21.6% in the 3rd quarter. Farallon Capital Management LLC now owns 19,501,500 shares of the biotechnology company's stock worth $805,412,000 after buying an additional 3,466,000 shares during the last quarter. Assetmark Inc. lifted its position in shares of Exelixis by 1,230.8% in the 3rd quarter. Assetmark Inc. now owns 3,195,971 shares of the biotechnology company's stock worth $131,994,000 after buying an additional 2,955,813 shares during the last quarter. Norges Bank bought a new position in shares of Exelixis in the 4th quarter worth about $106,460,000. Finally, Allianz Asset Management GmbH lifted its stake in Exelixis by 153.3% in the third quarter. Allianz Asset Management GmbH now owns 2,462,948 shares of the biotechnology company's stock valued at $101,720,000 after buying an additional 1,490,520 shares during the last quarter. Hedge funds and other institutional investors 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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
