Michael Morrissey Sells 26,364 Shares of Exelixis, Inc. (NASDAQ:EXEL) Stock

Exelixis, Inc. (NASDAQ:EXEL) CEO Michael Morrissey sold 26,364 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $17.66, for a total value of $465,588.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

  • On Wednesday, September 18th, Michael Morrissey sold 37,227 shares of Exelixis stock. The shares were sold at an average price of $19.20, for a total value of $714,758.40.
  • On Wednesday, August 14th, Michael Morrissey sold 35,040 shares of Exelixis stock. The shares were sold at an average price of $20.11, for a total value of $704,654.40.
  • On Friday, August 2nd, Michael Morrissey sold 35,040 shares of Exelixis stock. The shares were sold at an average price of $20.25, for a total value of $709,560.00.
  • On Wednesday, July 17th, Michael Morrissey sold 34,721 shares of Exelixis stock. The shares were sold at an average price of $21.37, for a total value of $741,987.77.

Exelixis stock traded down $0.90 during trading hours on Friday, hitting $17.04. The stock had a trading volume of 2,111,717 shares, compared to its average volume of 3,122,372. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.64 and a quick ratio of 8.53. The stock has a market capitalization of $5.43 billion, a price-to-earnings ratio of 11.91 and a beta of 1.81. Exelixis, Inc. has a 1-year low of $13.42 and a 1-year high of $25.31. The stock’s fifty day moving average is $19.50 and its two-hundred day moving average is $20.78.



Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Wednesday, July 31st. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.02. Exelixis had a return on equity of 31.31% and a net margin of 70.52%. The business had revenue of $240.28 million for the quarter, compared to the consensus estimate of $226.97 million. During the same period in the prior year, the business earned $0.31 earnings per share. The business’s revenue was up 29.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Exelixis, Inc. will post 0.92 EPS for the current year.

Several large investors have recently modified their holdings of the company. Fulton Breakefield Broenniman LLC lifted its position in shares of Exelixis by 3.8% in the second quarter. Fulton Breakefield Broenniman LLC now owns 15,399 shares of the biotechnology company’s stock valued at $329,000 after acquiring an additional 560 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its position in shares of Exelixis by 1.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 55,490 shares of the biotechnology company’s stock valued at $1,186,000 after acquiring an additional 600 shares in the last quarter. First Mercantile Trust Co. lifted its position in shares of Exelixis by 10.9% in the second quarter. First Mercantile Trust Co. now owns 6,386 shares of the biotechnology company’s stock valued at $136,000 after acquiring an additional 627 shares in the last quarter. MetLife Investment Advisors LLC lifted its position in shares of Exelixis by 0.4% in the first quarter. MetLife Investment Advisors LLC now owns 182,944 shares of the biotechnology company’s stock valued at $4,354,000 after acquiring an additional 642 shares in the last quarter. Finally, Cornerstone Advisors Inc. lifted its position in shares of Exelixis by 28.4% in the second quarter. Cornerstone Advisors Inc. now owns 3,099 shares of the biotechnology company’s stock valued at $66,000 after acquiring an additional 686 shares in the last quarter. Institutional investors and hedge funds own 77.39% of the company’s stock.

Several research firms have weighed in on EXEL. BidaskClub lowered Exelixis from a “hold” rating to a “sell” rating in a report on Wednesday, August 28th. ValuEngine lowered Exelixis from a “sell” rating to a “strong sell” rating in a report on Monday, September 16th. Zacks Investment Research lowered Exelixis from a “hold” rating to a “sell” rating and set a $19.00 target price on the stock. in a report on Thursday. Stifel Nicolaus upped their target price on Exelixis from $22.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, Cowen set a $25.00 target price on Exelixis and gave the company a “buy” rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $28.00.

About Exelixis

Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. 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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