Insider Selling: Exelixis, Inc. (NASDAQ:EXEL) Director Sells $324,683.15 in Stock

Exelixis, Inc. (NASDAQ:EXEL) Director Jack L. Wyszomierski sold 7,535 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $43.09, for a total value of $324,683.15. Following the completion of the transaction, the director now owns 358,882 shares in the company, valued at approximately $15,464,225.38. This represents a 2.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Exelixis Stock Performance

Shares of NASDAQ:EXEL opened at $43.03 on Friday. The company’s 50-day moving average is $39.03 and its 200 day moving average is $36.64. The company has a market capitalization of $11.73 billion, a P/E ratio of 24.31, a price-to-earnings-growth ratio of 1.13 and a beta of 0.28. Exelixis, Inc. has a fifty-two week low of $21.36 and a fifty-two week high of $48.85.

Hedge Funds Weigh In On Exelixis

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tallon Kerry Patrick bought a new stake in Exelixis in the 4th quarter valued at about $2,619,000. Janney Montgomery Scott LLC raised its stake in Exelixis by 9.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 33,296 shares of the biotechnology company’s stock valued at $1,109,000 after acquiring an additional 2,897 shares during the period. Chicago Partners Investment Group LLC bought a new stake in Exelixis in the 4th quarter valued at about $247,000. Spire Wealth Management raised its stake in Exelixis by 49.9% in the 4th quarter. Spire Wealth Management now owns 9,010 shares of the biotechnology company’s stock valued at $300,000 after acquiring an additional 3,000 shares during the period. Finally, Longboard Asset Management LP bought a new stake in Exelixis in the 4th quarter valued at about $245,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Stephens reiterated an “equal weight” rating and issued a $29.00 target price on shares of Exelixis in a report on Wednesday, February 12th. Bank of America raised their price objective on Exelixis from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday. Wells Fargo & Company restated a “market outperform” rating on shares of Exelixis in a research note on Thursday, April 17th. Barclays raised their price objective on Exelixis from $25.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, February 13th. Finally, UBS Group restated an “underperform” rating on shares of Exelixis in a research note on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $39.35.

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.