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

Exelixis, Inc. (NASDAQ:EXEL - Get Free Report) EVP Patrick J. Haley sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $38.80, for a total value of $388,000.00. Following the completion of the sale, the executive vice president now directly owns 341,028 shares of the company's stock, valued at approximately $13,231,886.40. The trade was a 2.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Exelixis Trading Up 1.0 %

Exelixis stock traded up $0.37 during midday trading on Friday, reaching $38.58. The stock had a trading volume of 1,838,259 shares, compared to its average volume of 2,073,747. Exelixis, Inc. has a 12 month low of $20.14 and a 12 month high of $39.30. The company has a market capitalization of $10.80 billion, a P/E ratio of 21.80, a PEG ratio of 1.13 and a beta of 0.57. The company has a fifty day moving average price of $34.99 and a two-hundred day moving average price of $32.08.

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

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Hedge Funds Weigh In On Exelixis

Several institutional investors have recently modified their holdings of the business. Invesco Ltd. raised its position in Exelixis by 308.1% in the fourth quarter. Invesco Ltd. now owns 3,975,241 shares of the biotechnology company's stock worth $132,376,000 after acquiring an additional 3,001,204 shares during the period. Norges Bank purchased a new position in shares of Exelixis during the 4th quarter valued at $94,867,000. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Exelixis by 330.4% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,484,395 shares of the biotechnology company's stock valued at $82,730,000 after purchasing an additional 1,907,167 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Exelixis by 104.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,159,395 shares of the biotechnology company's stock valued at $105,208,000 after purchasing an additional 1,613,482 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its position in shares of Exelixis by 124.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company's stock valued at $46,473,000 after purchasing an additional 991,494 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on EXEL. Oppenheimer lowered Exelixis from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $41.00 to $33.00 in a research note on Friday, January 24th. Bank of America downgraded Exelixis from a "buy" rating to a "neutral" rating and raised their target price for the company from $35.00 to $39.00 in a report on Tuesday, December 17th. UBS Group raised their target price on Exelixis from $30.00 to $34.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Piper Sandler raised their price objective on Exelixis from $37.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $40.00 target price on shares of Exelixis in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Exelixis currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.24.

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.