Exelixis (NASDAQ:EXEL) Director Jack Wyszomierski Sells 3,925 Shares

Exelixis, Inc. (NASDAQ:EXEL) Director Jack Wyszomierski sold 3,925 shares of Exelixis stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $50.55, for a total transaction of $198,408.75. Following the completion of the sale, the director directly owned 284,384 shares of the company’s stock, valued at approximately $14,375,611.20. This trade represents a 1.36% decrease in their position. The transaction 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.

Exelixis Price Performance

EXEL stock opened at $51.60 on Thursday. The company has a market cap of $12.97 billion, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 1.02 and a beta of 0.41. Exelixis, Inc. has a 1 year low of $33.76 and a 1 year high of $52.96. The stock’s fifty day moving average price is $46.54 and its 200-day moving average price is $44.39.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data 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 company had revenue of $610.81 million during the quarter, compared to analysts’ expectations of $607.51 million. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.Exelixis’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.55 earnings per share. As a group, analysts expect that Exelixis, Inc. will post 3.18 earnings per share for the current year.

Institutional Investors Weigh In On Exelixis

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Anchor Investment Management LLC increased its stake in shares of Exelixis by 500.0% in the third quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 500 shares in the last quarter. Motiv8 Investments LLC purchased a new position in shares of Exelixis during the 4th quarter valued at $26,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Exelixis during the 1st quarter valued at $27,000. Western Wealth Management LLC bought a new position in Exelixis in the 1st quarter worth $29,000. Finally, Acumen Wealth Advisors LLC purchased a new stake in Exelixis in the 4th quarter worth $29,000. Institutional investors own 85.27% of the company’s stock.

Analysts Set New Price Targets

EXEL has been the topic of a number of research reports. Wall Street Zen raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Wells Fargo & Company upped their target price on shares of Exelixis from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. HC Wainwright increased their price target on shares of Exelixis from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Morgan Stanley boosted their price objective on shares of Exelixis from $49.00 to $50.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Finally, Truist Financial upgraded Exelixis to a “strong-buy” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Exelixis presently has an average rating of “Hold” and an average price target of $47.35.

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.