Patrick J. Haley Sells 10,000 Shares of Exelixis, Inc. (NASDAQ:EXEL) Stock

Exelixis, Inc. (NASDAQ:EXEL) EVP Patrick J. Haley sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $35.27, for a total transaction of $352,700.00. Following the sale, the executive vice president now directly owns 278,665 shares in the company, valued at approximately $9,828,514.55. The trade was a 3.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Exelixis Trading Up 0.2 %

Shares of EXEL stock traded up $0.07 on Tuesday, reaching $36.45. 1,307,745 shares of the stock were exchanged, compared to its average volume of 2,073,519. The business’s 50 day moving average price is $30.08 and its 200 day moving average price is $25.73. The company has a market capitalization of $10.41 billion, a price-to-earnings ratio of 23.37, a PEG ratio of 0.90 and a beta of 0.51. Exelixis, Inc. has a twelve month low of $19.20 and a twelve month high of $36.72.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on EXEL shares. Morgan Stanley upped their price target on shares of Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. The Goldman Sachs Group upgraded shares of Exelixis to a “strong sell” rating in a research report on Tuesday, October 15th. Stifel Nicolaus lifted their price objective on Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. BMO Capital Markets lifted their price target on Exelixis from $29.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer reissued an “outperform” rating and issued a $29.00 price objective on shares of Exelixis in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.44.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Tri Ri Asset Management Corp acquired a new stake in shares of Exelixis in the third quarter worth $4,396,000. Tidal Investments LLC raised its holdings in Exelixis by 2.3% in the third quarter. Tidal Investments LLC now owns 36,366 shares of the biotechnology company’s stock valued at $944,000 after acquiring an additional 823 shares in the last quarter. Sanctuary Advisors LLC lifted its position in shares of Exelixis by 42.7% during the third quarter. Sanctuary Advisors LLC now owns 39,261 shares of the biotechnology company’s stock worth $1,019,000 after purchasing an additional 11,757 shares during the last quarter. TD Private Client Wealth LLC lifted its stake in Exelixis by 376.8% during the third quarter. TD Private Client Wealth LLC now owns 9,756 shares of the biotechnology company’s stock worth $253,000 after purchasing an additional 7,710 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in Exelixis during the third quarter worth about $264,000. 85.27% of the stock is currently owned by hedge funds and other 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.