Exelixis, Inc. (NASDAQ:EXEL) EVP Jeffrey Hessekiel Sells 60,000 Shares

Exelixis, Inc. (NASDAQ:EXEL) EVP Jeffrey Hessekiel sold 60,000 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the transaction, the executive vice president now owns 486,059 shares of the company’s stock, valued at $17,823,783.53. The trade was a 10.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Jeffrey Hessekiel also recently made the following trade(s):

• On Friday, November 1st, Jeffrey Hessekiel sold 50,000 shares of Exelixis stock. The stock was sold at an average price of $34.13, for a total transaction of $1,706,500.00.
• On Monday, October 28th, Jeffrey Hessekiel sold 25,000 shares of Exelixis stock. The shares were sold at an average price of $28.39, for a total value of $709,750.00.
• On Monday, September 23rd, Jeffrey Hessekiel sold 25,000 shares of Exelixis stock. The shares were sold at an average price of $26.38, for a total transaction of $659,500.00.

Exelixis Trading Down 2.4 %

Shares of Exelixis stock traded down $0.87 on Monday, reaching $35.59. 2,048,262 shares of the company were exchanged, compared to its average volume of 2,070,506. Exelixis, Inc. has a one year low of $19.20 and a one year high of $36.97. The company has a 50-day moving average of $30.82 and a 200 day moving average of $26.15. The company has a market capitalization of $10.16 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 0.92 and a beta of 0.51.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The business had revenue of $539.50 million during the quarter, compared to analyst estimates of $490.31 million. During the same period in the previous year, the business posted $0.10 earnings per share. Exelixis’s revenue for the quarter was up 14.3% on a year-over-year basis. Analysts predict that Exelixis, Inc. will post 1.69 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on EXEL shares. BMO Capital Markets increased their price objective on shares of Exelixis from $29.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. TD Cowen upped their target price on shares of Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Royal Bank of Canada restated an “outperform” rating and issued a $34.00 target price on shares of Exelixis in a report on Wednesday, October 30th. The Goldman Sachs Group raised shares of Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. Finally, Guggenheim upped their price objective on Exelixis from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.44.

Institutional Investors Weigh In On Exelixis

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC purchased a new position in shares of Exelixis in the 3rd quarter worth $30,000. Brooklyn Investment Group bought a new position in Exelixis in the 3rd quarter worth approximately $42,000. GAMMA Investing LLC lifted its position in shares of Exelixis by 107.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock worth $45,000 after buying an additional 1,041 shares during the period. Park Place Capital Corp acquired a new position in shares of Exelixis during the second quarter worth approximately $45,000. Finally, Capital Performance Advisors LLP bought a new stake in Exelixis in the third quarter valued at about $61,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

About Exelixis

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.