Insider Selling: Exelixis, Inc. (NASDAQ:EXEL) EVP Sells $1,706,500.00 in Stock

Exelixis, Inc. (NASDAQ:EXEL) EVP Jeffrey Hessekiel sold 50,000 shares of Exelixis stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $34.13, for a total value of $1,706,500.00. Following the transaction, the executive vice president now owns 530,325 shares of the company’s stock, valued at $18,099,992.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Jeffrey Hessekiel also recently made the following trade(s):

• On Monday, October 28th, Jeffrey Hessekiel sold 25,000 shares of Exelixis stock. The shares were sold at an average price of $28.39, for a total value of $709,750.00.
• On Monday, September 23rd, Jeffrey Hessekiel sold 25,000 shares of Exelixis stock. The shares were sold at an average price of $26.38, for a total value of $659,500.00.
• On Monday, August 26th, Jeffrey Hessekiel sold 20,000 shares of Exelixis stock. The shares were sold at an average price of $25.79, for a total transaction of $515,800.00.

Exelixis Stock Performance

Exelixis stock opened at $35.80 on Friday. The stock has a market cap of $10.22 billion, a P/E ratio of 22.95, a PEG ratio of 0.87 and a beta of 0.51. Exelixis, Inc. has a fifty-two week low of $19.20 and a fifty-two week high of $36.17. The firm’s fifty day moving average price is $27.87 and its 200-day moving average price is $24.64.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $539.50 million for the quarter, compared to analyst estimates of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 EPS. Sell-side analysts predict that Exelixis, Inc. will post 1.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $29.00 price objective on shares of Exelixis in a research note on Wednesday, September 18th. JMP Securities reiterated a “market outperform” rating and set a $29.00 price target on shares of Exelixis in a report on Friday, October 11th. Stifel Nicolaus boosted their price objective on Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Guggenheim raised their target price on Exelixis from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Bank of America increased their price target on shares of Exelixis from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $31.44.

Institutional Investors Weigh In On Exelixis

Several hedge funds have recently bought and sold shares of the stock. First Trust Direct Indexing L.P. purchased a new stake in shares of Exelixis during the 1st quarter valued at $250,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Exelixis by 3.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,771 shares of the biotechnology company’s stock worth $778,000 after purchasing an additional 1,301 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Exelixis by 6.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 60,746 shares of the biotechnology company’s stock worth $1,442,000 after purchasing an additional 3,510 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Exelixis by 17.3% during the 1st quarter. Nordea Investment Management AB now owns 202,292 shares of the biotechnology company’s stock valued at $4,835,000 after purchasing an additional 29,784 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of Exelixis during the 1st quarter valued at about $1,281,000. 85.27% of the stock is currently owned by 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.