Key Points
- Exelixis Director Sue Gail Eckhardt sold 9,812 shares on June 1 at an average price of $50.14, totaling about $491,974. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- EXEL shares rose 6.3% and were trading around $51.60, near the stock’s 52-week high of $52.96. The company has a market cap of about $12.97 billion.
- Recent results topped expectations, with Exelixis reporting Q1 EPS of $0.87 versus estimates of $0.75 and revenue of $610.81 million, up 10% year over year. Analysts currently view the stock as a Hold on average, with a consensus target price of $47.35.
Exelixis, Inc. (NASDAQ:EXEL - Get Free Report) Director Jack Wyszomierski sold 3,925 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $50.55, for a total value of $198,408.75. Following the completion of the transaction, the director directly owned 284,384 shares in the company, valued at approximately $14,375,611.20. This represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Exelixis Price Performance
EXEL stock opened at $51.60 on Thursday. Exelixis, Inc. has a 1-year low of $33.76 and a 1-year high of $52.96. The business has a 50 day simple moving average of $46.54 and a two-hundred day simple moving average of $44.39. The company has a market capitalization of $12.97 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 1.02 and a beta of 0.41.
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, beating the consensus estimate of $0.75 by $0.12. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The firm had revenue of $610.81 million for the quarter, compared to analysts' expectations of $607.51 million. During the same quarter last year, the business posted $0.55 earnings per share. The company's revenue for the quarter was up 10.0% compared to the same quarter last year. Sell-side analysts anticipate that Exelixis, Inc. will post 3.18 EPS for the current fiscal year.
Institutional Trading of Exelixis
Several hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Exelixis by 81.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,181 shares of the biotechnology company's stock worth $1,592,000 after acquiring an additional 19,407 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Exelixis by 4.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company's stock worth $54,153,000 after purchasing an additional 68,133 shares during the period. Focus Partners Wealth increased its position in shares of Exelixis by 83.4% during the 1st quarter. Focus Partners Wealth now owns 38,458 shares of the biotechnology company's stock valued at $1,420,000 after purchasing an additional 17,483 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Exelixis by 134.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company's stock valued at $61,000 after buying an additional 944 shares during the period. Finally, Sivia Capital Partners LLC raised its holdings in Exelixis by 23.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 14,362 shares of the biotechnology company's stock valued at $633,000 after buying an additional 2,764 shares during the period. 85.27% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have commented on EXEL. Wall Street Zen raised shares of Exelixis from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 9th. TD Cowen boosted their target price on Exelixis from $51.00 to $55.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Morgan Stanley increased their price target on Exelixis from $49.00 to $50.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 6th. Zacks Research cut Exelixis from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 5th. Finally, Truist Financial raised Exelixis to a "strong-buy" rating in a research note on Monday, April 27th. One investment 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 given a Sell rating to the company's stock. According to MarketBeat, Exelixis currently has a consensus rating of "Hold" and a consensus price target of $47.35.
Read Our Latest Analysis 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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