Key Points
- Exelixis Director Mary Beckerle sold 9,812 shares at an average price of $53.66, receiving approximately $526,512. The sale reduced her direct ownership by 37.9% and was conducted under a pre-arranged Rule 10b5-1 trading plan.
- Exelixis reported quarterly adjusted EPS of $0.91, beating estimates of $0.85, while revenue rose 10.6% year over year to $628.69 million, slightly below analyst expectations.
- Analysts have a consensus “Hold” rating on EXEL, with an average price target of $49.79. The stock opened at $50.38 and has traded between $33.76 and $57.57 over the past year.
Exelixis, Inc. (NASDAQ:EXEL - Get Free Report) Director Mary Beckerle sold 9,812 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $53.66, for a total value of $526,511.92. Following the transaction, the director directly owned 16,079 shares of the company's stock, valued at approximately $862,799.14. This trade represents a 37.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Exelixis Stock Down 1.9%
NASDAQ EXEL opened at $50.38 on Thursday. Exelixis, Inc. has a 12-month low of $33.76 and a 12-month high of $57.57. The company has a market capitalization of $12.48 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 1.55 and a beta of 0.44. The firm's 50 day moving average is $54.25 and its 200-day moving average is $48.12.
Exelixis (NASDAQ:EXEL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.06. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The business had revenue of $628.69 million for the quarter, compared to analyst estimates of $636.40 million. During the same quarter in the previous year, the firm posted $0.75 earnings per share. The firm's revenue for the quarter was up 10.6% on a year-over-year basis. As a group, sell-side analysts expect that Exelixis, Inc. will post 3.14 EPS for the current year.
Analysts Set New Price Targets
EXEL has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on Exelixis from $40.00 to $49.00 and gave the company an "equal weight" rating in a report on Monday, July 13th. Morgan Stanley raised their price target on Exelixis from $50.00 to $53.00 and gave the company an "equal weight" rating in a research note on Thursday, July 23rd. HC Wainwright reaffirmed a "buy" rating and set a $56.00 price target on shares of Exelixis in a research report on Thursday, July 2nd. Truist Financial dropped their price objective on Exelixis from $56.00 to $52.00 and set a "hold" rating on the stock in a research note on Thursday, August 6th. Finally, Royal Bank Of Canada increased their price objective on Exelixis from $43.00 to $46.00 and gave the company a "sector perform" rating in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $49.79.
View Our Latest Stock Analysis on Exelixis
Institutional Investors Weigh In On Exelixis
Several hedge funds have recently bought and sold shares of EXEL. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Exelixis by 0.5% in 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 period. Meeder Advisory Services Inc. raised its holdings in shares of Exelixis by 5.8% during the 4th quarter. Meeder Advisory Services Inc. now owns 5,406 shares of the biotechnology company's stock worth $237,000 after buying an additional 298 shares in the last quarter. Cim LLC lifted its holdings in shares of Exelixis by 0.9% in the third quarter. Cim LLC now owns 35,397 shares of the biotechnology company's stock worth $1,462,000 after acquiring an additional 305 shares during the last quarter. J.W. Cole Advisors Inc. increased its position in Exelixis by 6.5% during the 4th quarter. J.W. Cole Advisors Inc. now owns 5,354 shares of the biotechnology company's stock worth $235,000 after purchasing an additional 329 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its position in Exelixis by 3.8% in the first quarter. Fifth Third Wealth Advisors LLC now owns 9,077 shares of the biotechnology company's stock valued at $389,000 after buying an additional 333 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.
Exelixis Company Profile
(
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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