Exelixis (NASDAQ:EXEL) SVP Sells $332,641.25 in Stock

Exelixis, Inc. (NASDAQ:EXEL) SVP Brenda Hefti sold 6,625 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $50.21, for a total transaction of $332,641.25. Following the sale, the senior vice president directly owned 106,762 shares in the company, valued at $5,360,520.02. This trade represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Brenda Hefti also recently made the following trade(s):

• On Wednesday, February 18th, Brenda Hefti sold 18,669 shares of Exelixis stock. The stock was sold at an average price of $44.01, for a total transaction of $821,622.69.

Exelixis Stock Performance

Shares of NASDAQ:EXEL opened at $49.65 on Friday. The stock has a market capitalization of $12.48 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 1.06 and a beta of 0.38. Exelixis, Inc. has a 1-year low of $33.76 and a 1-year high of $51.63. The company’s fifty day moving average is $44.93 and its two-hundred day moving average is $43.80.

Exelixis (NASDAQ:EXEL) last issued its earnings results 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. The company had revenue of $610.81 million for the quarter, compared to analysts’ expectations of $607.51 million. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The firm’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 earnings per share. Sell-side analysts expect that Exelixis, Inc. will post 3.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. TD Cowen increased their target price on shares of Exelixis from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Royal Bank Of Canada lowered their price target on shares of Exelixis from $46.00 to $43.00 and set a “sector perform” rating for the company in a research report on Monday, March 2nd. Wells Fargo & Company upped their price target on shares of Exelixis from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Morgan Stanley upped their price target on shares of Exelixis from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Finally, Stifel Nicolaus upped their price target on shares of Exelixis from $44.00 to $47.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $47.35.

Hedge Funds Weigh In On Exelixis

Institutional investors have recently modified their holdings of the company. BridgePort Financial Solutions LLC bought a new position in shares of Exelixis in the third quarter valued at approximately $517,000. Candriam S.C.A. raised its holdings in Exelixis by 18.4% during the third quarter. Candriam S.C.A. now owns 696,104 shares of the biotechnology company’s stock worth $28,749,000 after purchasing an additional 108,367 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Exelixis by 11.2% during the third quarter. Dimensional Fund Advisors LP now owns 4,180,912 shares of the biotechnology company’s stock worth $172,658,000 after purchasing an additional 419,596 shares in the last quarter. Allianz Asset Management GmbH lifted its position 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 worth $101,720,000 after purchasing an additional 1,490,520 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its position in Exelixis by 19.1% in the third quarter. Illinois Municipal Retirement Fund now owns 204,211 shares of the biotechnology company’s stock worth $8,434,000 after purchasing an additional 32,737 shares during the period. Institutional investors own 85.27% of the company’s stock.

Exelixis Company Profile

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.