Exelixis, Inc. (NASDAQ:EXEL) Director Sells $461,112.05 in Stock

Exelixis, Inc. (NASDAQ:EXEL) Director Alan M. Garber sold 19,205 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $24.01, for a total value of $461,112.05. Following the completion of the transaction, the director now directly owns 35,703 shares in the company, valued at $857,229.03. The transaction was disclosed in a filing with the SEC, which is available at this link.

Exelixis Price Performance

Shares of NASDAQ EXEL opened at $23.86 on Thursday. The company has a market cap of $7.23 billion, a P/E ratio of 37.28, a PEG ratio of 0.62 and a beta of 0.53. Exelixis, Inc. has a 1 year low of $18.08 and a 1 year high of $24.34. The firm has a 50-day simple moving average of $21.99 and a two-hundred day simple moving average of $21.97.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, February 6th. The biotechnology company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. The business had revenue of $479.65 million for the quarter, compared to analyst estimates of $481.23 million. Exelixis had a net margin of 11.35% and a return on equity of 8.57%. As a group, equities research analysts expect that Exelixis, Inc. will post 1.22 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on EXEL. Citigroup began coverage on Exelixis in a report on Friday, December 15th. They set a “buy” rating and a $31.00 price target on the stock. William Blair reissued an “outperform” rating on shares of Exelixis in a report on Friday, January 26th. Stifel Nicolaus upped their price objective on Exelixis from $23.00 to $25.00 and gave the stock a “hold” rating in a research note on Friday, February 2nd. TheStreet upgraded Exelixis from a “c+” rating to a “b-” rating in a research note on Monday, March 18th. Finally, Barclays increased their price target on Exelixis from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $26.29.

Hedge Funds Weigh In On Exelixis

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in Exelixis by 4.9% during the first quarter. BlackRock Inc. now owns 36,214,174 shares of the biotechnology company’s stock valued at $702,917,000 after buying an additional 1,683,880 shares during the period. Vanguard Group Inc. increased its holdings in Exelixis by 0.7% during the third quarter. Vanguard Group Inc. now owns 31,284,832 shares of the biotechnology company’s stock valued at $490,546,000 after buying an additional 220,099 shares during the period. State Street Corp increased its holdings in Exelixis by 3.4% during the third quarter. State Street Corp now owns 13,019,900 shares of the biotechnology company’s stock valued at $204,152,000 after buying an additional 423,520 shares during the period. Geode Capital Management LLC increased its holdings in Exelixis by 5.6% during the second quarter. Geode Capital Management LLC now owns 5,033,503 shares of the biotechnology company’s stock valued at $96,190,000 after buying an additional 265,404 shares during the period. Finally, First Trust Advisors LP boosted its stake in Exelixis by 24.1% in the first quarter. First Trust Advisors LP now owns 4,752,734 shares of the biotechnology company’s stock valued at $92,251,000 after acquiring an additional 924,189 shares in the last quarter. 85.27% of the stock is 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.