Insider Selling: Exelixis, Inc. (NASDAQ:EXEL) Director Sells $1,020,000.00 in Stock

Exelixis, Inc. (NASDAQ:EXEL) Director George Poste sold 30,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $34.00, for a total value of $1,020,000.00. Following the completion of the transaction, the director now owns 169,020 shares in the company, valued at $5,746,680. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

George Poste also recently made the following trade(s):

• On Thursday, August 8th, George Poste sold 33,725 shares of Exelixis stock. The stock was sold at an average price of $26.89, for a total transaction of $906,865.25.

Exelixis Price Performance

Shares of EXEL opened at $35.80 on Friday. The business has a 50-day moving average of $27.87 and a 200-day moving average of $24.64. The company has a market capitalization of $10.22 billion, a price-to-earnings ratio of 22.95, a price-to-earnings-growth ratio of 0.87 and a beta of 0.51. Exelixis, Inc. has a 1 year low of $19.20 and a 1 year high of $36.17.

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

Institutional Trading of Exelixis

A number of large investors have recently bought and sold shares of EXEL. Covestor Ltd lifted its stake in shares of Exelixis by 5.7% in the 3rd quarter. Covestor Ltd now owns 6,335 shares of the biotechnology company’s stock valued at $164,000 after purchasing an additional 341 shares during the period. Resonant Capital Advisors LLC lifted its stake in Exelixis by 3.6% in the second quarter. Resonant Capital Advisors LLC now owns 13,746 shares of the biotechnology company’s stock valued at $309,000 after buying an additional 477 shares during the period. Cornercap Investment Counsel Inc. boosted its holdings in shares of Exelixis by 1.1% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 50,497 shares of the biotechnology company’s stock worth $1,135,000 after buying an additional 539 shares in the last quarter. Creative Planning grew its position in shares of Exelixis by 0.8% during the 2nd quarter. Creative Planning now owns 71,700 shares of the biotechnology company’s stock worth $1,611,000 after buying an additional 548 shares during the period. Finally, Signaturefd LLC increased its stake in shares of Exelixis by 12.2% in the 3rd quarter. Signaturefd LLC now owns 6,138 shares of the biotechnology company’s stock valued at $159,000 after acquiring an additional 666 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on EXEL shares. Stephens increased their price target on shares of Exelixis from $23.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Oppenheimer reaffirmed an “outperform” rating and issued a $29.00 target price on shares of Exelixis in a report on Tuesday, July 30th. JMP Securities reissued a “market outperform” rating and set a $29.00 price target on shares of Exelixis in a report on Friday, October 11th. Piper Sandler raised their price objective on Exelixis from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, UBS Group initiated coverage on Exelixis in a research report on Thursday, September 19th. They issued a “neutral” rating and a $30.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.