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 Monday, March 3rd. The stock was sold at an average price of $38.80, for a total transaction of $388,000.00. Following the sale, the executive vice president now owns 341,028 shares of the company’s stock, valued at approximately $13,231,886.40. This represents a 2.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Exelixis Stock Up 0.9 %

Exelixis stock opened at $38.65 on Thursday. The stock has a market cap of $10.82 billion, a price-to-earnings ratio of 21.84, a PEG ratio of 1.13 and a beta of 0.57. The business has a 50-day simple moving average of $34.81 and a 200 day simple moving average of $31.91. Exelixis, Inc. has a 52 week low of $20.14 and a 52 week high of $39.30.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. On average, research analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

EXEL has been the subject of several analyst reports. Truist Financial lifted their price objective on shares of Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Piper Sandler lifted their price objective on shares of Exelixis from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Bank of America cut Exelixis from a “buy” rating to a “neutral” rating and upped their target price for the stock from $35.00 to $39.00 in a research note on Tuesday, December 17th. Stephens reiterated an “equal weight” rating and issued a $29.00 price target on shares of Exelixis in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company lowered Exelixis from an “overweight” rating to an “equal weight” rating and set a $36.00 price objective on the stock. in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.24.

Hedge Funds Weigh In On Exelixis

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Exelixis by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 29,429,252 shares of the biotechnology company’s stock worth $979,994,000 after acquiring an additional 121,750 shares during the period. LSV Asset Management grew its holdings in Exelixis by 0.8% during the fourth quarter. LSV Asset Management now owns 8,169,847 shares of the biotechnology company’s stock valued at $272,056,000 after purchasing an additional 67,470 shares during the period. Fuller & Thaler Asset Management Inc. raised its position in shares of Exelixis by 10.2% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 7,630,940 shares of the biotechnology company’s stock valued at $254,110,000 after purchasing an additional 708,312 shares during the period. Invesco Ltd. raised its position in shares of Exelixis by 308.1% during the fourth quarter. Invesco Ltd. now owns 3,975,241 shares of the biotechnology company’s stock valued at $132,376,000 after buying an additional 3,001,204 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Exelixis by 25.7% during the 4th quarter. AQR Capital Management LLC now owns 3,967,005 shares of the biotechnology company’s stock worth $132,101,000 after acquiring an additional 810,857 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Company Profile

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.