Patrick J. Haley Sells 41,588 Shares of Exelixis, Inc. (NASDAQ:EXEL) Stock

Exelixis, Inc. (NASDAQ:EXEL) EVP Patrick J. Haley sold 41,588 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.36, for a total transaction of $1,428,963.68. Following the completion of the transaction, the executive vice president now owns 288,665 shares in the company, valued at approximately $9,918,529.40. This trade represents a 12.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Exelixis Stock Performance

EXEL traded down $0.11 during trading on Tuesday, reaching $34.41. 2,207,695 shares of the company’s stock were exchanged, compared to its average volume of 2,081,419. The company’s fifty day moving average price is $29.39 and its 200-day moving average price is $25.35. The firm has a market capitalization of $9.83 billion, a PE ratio of 22.06, a P/E/G ratio of 0.88 and a beta of 0.51. Exelixis, Inc. has a fifty-two week low of $19.20 and a fifty-two week high of $36.60.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The firm had revenue of $539.50 million during the quarter, compared to analysts’ expectations of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.10 earnings per share. Research analysts forecast that Exelixis, Inc. will post 1.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Exelixis

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Farallon Capital Management LLC boosted its position in shares of Exelixis by 1.6% during the second quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock worth $608,993,000 after buying an additional 424,000 shares during the period. Renaissance Technologies LLC grew its stake in shares of Exelixis by 0.4% in the second quarter. Renaissance Technologies LLC now owns 15,163,066 shares of the biotechnology company’s stock valued at $340,714,000 after buying an additional 61,350 shares in the last quarter. LSV Asset Management increased its holdings in Exelixis by 107.7% during the second quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock worth $129,511,000 after buying an additional 2,989,021 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Exelixis by 7.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,137,201 shares of the biotechnology company’s stock worth $115,434,000 after acquiring an additional 349,837 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Exelixis by 12.7% in the 2nd quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock valued at $73,425,000 after purchasing an additional 370,199 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. JMP Securities reissued a “market outperform” rating and issued a $29.00 target price on shares of Exelixis in a report on Friday, October 11th. Morgan Stanley boosted their price objective on Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. Royal Bank of Canada restated an “outperform” rating and set a $34.00 target price on shares of Exelixis in a report on Wednesday, October 30th. HC Wainwright reaffirmed a “buy” rating and issued a $29.00 price target on shares of Exelixis in a report on Wednesday, September 18th. Finally, Bank of America increased their price objective on shares of Exelixis from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.44.

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.