Patrick Haley Sells 32,110 Shares of Exelixis (NASDAQ:EXEL) Stock

Exelixis, Inc. (NASDAQ:EXEL) EVP Patrick Haley sold 32,110 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $49.81, for a total value of $1,599,399.10. Following the completion of the transaction, the executive vice president directly owned 357,638 shares of the company’s stock, valued at approximately $17,813,948.78. This trade represents a 8.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Exelixis Stock Performance

Shares of NASDAQ:EXEL traded up $0.50 during trading on Friday, hitting $50.15. 1,543,031 shares of the stock were exchanged, compared to its average volume of 2,732,338. The company has a market capitalization of $12.61 billion, a price-to-earnings ratio of 16.66, 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 simple moving average is $44.93 and its 200-day simple moving average is $43.80.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.12. The business had revenue of $610.81 million during the quarter, compared to analyst estimates of $607.51 million. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.Exelixis’s revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 earnings per share. On average, research analysts forecast that Exelixis, Inc. will post 3.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on EXEL. HC Wainwright raised their price objective on shares of Exelixis from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Wall Street Zen raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Truist Financial upgraded shares of Exelixis to a “strong-buy” rating in a research note on Monday, April 27th. Royal Bank Of Canada decreased their price objective on Exelixis from $46.00 to $43.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. Finally, TD Cowen upped their price objective on Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $47.35.

Institutional Investors Weigh In On Exelixis

A number of hedge funds have recently made changes to their positions in EXEL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Exelixis by 81.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,181 shares of the biotechnology company’s stock valued at $1,592,000 after purchasing an additional 19,407 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Exelixis by 4.9% in the first 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 in the last quarter. Focus Partners Wealth grew its holdings in shares of Exelixis by 83.4% during the first quarter. Focus Partners Wealth now owns 38,458 shares of the biotechnology company’s stock worth $1,420,000 after purchasing an additional 17,483 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Exelixis by 134.3% in the first 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 in the last quarter. Finally, Sivia Capital Partners LLC raised its holdings in shares of Exelixis by 23.8% in the second 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 last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

About Exelixis

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.