Exelixis (NASDAQ:EXEL) EVP Patrick Haley Sells 28,043 Shares

Exelixis, Inc. (NASDAQ:EXEL) EVP Patrick Haley sold 28,043 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $42.58, for a total transaction of $1,194,070.94. Following the completion of the transaction, the executive vice president owned 374,029 shares of the company’s stock, valued at approximately $15,926,154.82. This trade represents a 6.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Exelixis Stock Down 0.6%

NASDAQ:EXEL traded down $0.26 during mid-day trading on Monday, reaching $42.25. 3,975,801 shares of the stock were exchanged, compared to its average volume of 2,953,427. Exelixis, Inc. has a 1 year low of $31.90 and a 1 year high of $49.62. The company has a 50 day simple moving average of $39.93 and a 200-day simple moving average of $40.73. The stock has a market capitalization of $11.33 billion, a P/E ratio of 20.31, a P/E/G ratio of 0.79 and a beta of 0.32.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.10. The company had revenue of $597.76 million during the quarter, compared to the consensus estimate of $590.04 million. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.Exelixis’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 earnings per share. Exelixis has set its FY 2025 guidance at EPS. As a group, research analysts predict that Exelixis, Inc. will post 2.04 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. TD Cowen lifted their price objective on shares of Exelixis from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Wolfe Research started coverage on Exelixis in a report on Tuesday, November 18th. They set a “peer perform” rating on the stock. Leerink Partnrs raised shares of Exelixis from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. Morgan Stanley lifted their price target on Exelixis from $44.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Finally, Stifel Nicolaus set a $43.00 target price on shares of Exelixis in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Exelixis presently has an average rating of “Moderate Buy” and an average price target of $45.45.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in EXEL. Belpointe Asset Management LLC acquired a new position in Exelixis in the first quarter valued at about $572,000. Fox Run Management L.L.C. bought a new stake in Exelixis in the 2nd quarter valued at approximately $321,000. D.A. Davidson & CO. acquired a new stake in shares of Exelixis in the second quarter valued at approximately $212,000. Fortis Capital Advisors LLC acquired a new position in Exelixis during the first quarter valued at approximately $572,000. Finally, Ellsworth Advisors LLC acquired a new stake in shares of Exelixis in the 1st quarter valued at approximately $3,589,000. 85.27% of the stock is owned by institutional investors.

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.