Michael Morrissey Sells 100,000 Shares of Exelixis, Inc. (EXEL) Stock

Exelixis, Inc. (NASDAQ:EXEL) CEO Michael Morrissey sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $21.10, for a total transaction of $2,110,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Michael Morrissey also recently made the following trade(s):

  • On Thursday, August 9th, Michael Morrissey sold 234,267 shares of Exelixis stock. The stock was sold at an average price of $21.04, for a total transaction of $4,928,977.68.
  • On Monday, July 16th, Michael Morrissey sold 90,000 shares of Exelixis stock. The stock was sold at an average price of $21.13, for a total transaction of $1,901,700.00.
  • On Monday, June 25th, Michael Morrissey sold 90,000 shares of Exelixis stock. The stock was sold at an average price of $19.62, for a total transaction of $1,765,800.00.
  • On Thursday, May 24th, Michael Morrissey sold 90,000 shares of Exelixis stock. The stock was sold at an average price of $20.55, for a total transaction of $1,849,500.00.

NASDAQ:EXEL opened at $20.40 on Friday. The firm has a market capitalization of $6.26 billion, a PE ratio of 40.00 and a beta of 2.02. Exelixis, Inc. has a twelve month low of $18.50 and a twelve month high of $32.50.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Wednesday, August 1st. The biotechnology company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.12. The company had revenue of $186.10 million during the quarter, compared to analyst estimates of $157.37 million. Exelixis had a net margin of 48.17% and a return on equity of 65.68%. Exelixis’s revenue for the quarter was up 88.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.06 EPS. analysts expect that Exelixis, Inc. will post 1.03 earnings per share for the current fiscal year.

EXEL has been the subject of several analyst reports. Needham & Company LLC lowered their price target on shares of Exelixis from $33.00 to $30.00 and set a “buy” rating for the company in a report on Friday, May 11th. Cann reiterated a “buy” rating and issued a $40.00 price objective on shares of Exelixis in a research note on Thursday, May 17th. ValuEngine upgraded shares of Exelixis from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Zacks Investment Research lowered shares of Exelixis from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 15th. Finally, Stifel Nicolaus lowered their price objective on shares of Exelixis from $30.00 to $29.00 and set a “hold” rating for the company in a research note on Thursday, May 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $32.67.

A number of hedge funds have recently made changes to their positions in the business. Stephens Investment Management Group LLC increased its stake in Exelixis by 50.7% during the 2nd quarter. Stephens Investment Management Group LLC now owns 692,226 shares of the biotechnology company’s stock valued at $14,675,000 after purchasing an additional 232,761 shares in the last quarter. ING Groep NV bought a new stake in Exelixis during the 2nd quarter valued at $930,000. Employees Retirement System of Texas increased its stake in Exelixis by 51.5% during the 2nd quarter. Employees Retirement System of Texas now owns 50,000 shares of the biotechnology company’s stock valued at $1,076,000 after purchasing an additional 17,000 shares in the last quarter. Federated Investors Inc. PA increased its stake in Exelixis by 77.3% during the 2nd quarter. Federated Investors Inc. PA now owns 255,708 shares of the biotechnology company’s stock valued at $5,503,000 after purchasing an additional 111,496 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in Exelixis during the 2nd quarter valued at $217,000. Institutional investors and hedge funds own 77.67% of the company’s stock.

Exelixis Company Profile

Exelixis, Inc, a biotechnology company, engages in the discovery, development, and commercialization of new medicines to enhance care and outcomes for people with cancer. The company's products include 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 patients with progressive and metastatic medullary thyroid cancer.

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Insider Buying and Selling by Quarter for Exelixis (NASDAQ:EXEL)

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