Exelixis, Inc. (NASDAQ:EXEL) EVP Sells $2,200,200.00 in Stock

Exelixis, Inc. (NASDAQ:EXEL) EVP Jeffrey Hessekiel sold 60,000 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the sale, the executive vice president now directly owns 486,059 shares of the company’s stock, valued at $17,823,783.53. The trade was a 10.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, November 1st, Jeffrey Hessekiel sold 50,000 shares of Exelixis stock. The shares were sold at an average price of $34.13, for a total transaction of $1,706,500.00.
• On Monday, October 28th, Jeffrey Hessekiel sold 25,000 shares of Exelixis stock. The stock was 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.

Exelixis Price Performance

NASDAQ EXEL traded down $0.87 on Monday, hitting $35.59. 2,048,262 shares of the stock were exchanged, compared to its average volume of 2,070,506. The company has a market capitalization of $10.16 billion, a PE ratio of 23.29, a P/E/G ratio of 0.92 and a beta of 0.51. The business’s fifty day moving average is $30.82 and its 200 day moving average is $26.15. Exelixis, Inc. has a 52 week low of $19.20 and a 52 week high of $36.97.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The business had revenue of $539.50 million for the quarter, compared to analyst estimates of $490.31 million. During the same period last year, the company posted $0.10 earnings per share. Exelixis’s quarterly revenue was up 14.3% compared to the same quarter last year. Analysts predict that Exelixis, Inc. will post 1.69 EPS for the current fiscal year.

Institutional Trading of Exelixis

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC lifted its holdings in shares of Exelixis by 10.0% during the 1st quarter. Tidal Investments LLC now owns 9,710 shares of the biotechnology company’s stock valued at $230,000 after purchasing an additional 886 shares during the last quarter. Cetera Advisors LLC acquired a new position in Exelixis during the first quarter worth approximately $327,000. DekaBank Deutsche Girozentrale boosted its stake in shares of Exelixis by 13.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 429,690 shares of the biotechnology company’s stock valued at $10,035,000 after buying an additional 49,597 shares in the last quarter. Park Place Capital Corp purchased a new stake in shares of Exelixis in the second quarter valued at $45,000. Finally, GAMMA Investing LLC grew its position in Exelixis by 107.9% during the second quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 1,041 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Bank of America boosted their price objective on Exelixis from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Truist Financial increased their price objective on Exelixis from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. HC Wainwright reissued a “buy” rating and issued a $29.00 price objective on shares of Exelixis in a research note on Wednesday, September 18th. Wells Fargo & Company raised their price objective on shares of Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, TD Cowen increased their target price on Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently 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.