Maria Freire Sells 20,634 Shares of Exelixis (NASDAQ:EXEL) Stock

Key Points

• Insider sale: Exelixis Director Maria Freire sold 20,634 shares on May 7 at an average price of $46.00, totaling about $949,164. After the transaction, she still held 100,819 shares.
• Stock performance and earnings: Exelixis shares rose 4.2% to $48.16, near the stock’s 52-week high. The company also beat quarterly earnings expectations, reporting $0.87 EPS versus the $0.75 consensus estimate on revenue of $610.81 million.
• Analyst view: Analyst sentiment remains mixed, with an average rating of Hold and a mean price target of $47.83. Recent moves included both target reductions and increases from firms such as RBC, Barclays, and Wells Fargo.

Exelixis, Inc. (NASDAQ:EXEL - Get Free Report) Director Maria Freire sold 20,634 shares of the business's stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $46.00, for a total transaction of $949,164.00. Following the sale, the director directly owned 100,819 shares in the company, valued at approximately $4,637,674. The trade was a 16.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Exelixis Stock Up 4.2%

Shares of NASDAQ EXEL traded up $1.95 during midday trading on Friday, reaching $48.16. 2,179,003 shares of the company were exchanged, compared to its average volume of 2,756,304. The stock's 50-day moving average price is $43.44 and its 200-day moving average price is $42.97. The stock has a market cap of $12.11 billion, a P/E ratio of 16.00, a PEG ratio of 1.09 and a beta of 0.38. Exelixis, Inc. has a one year low of $33.76 and a one year high of $49.62.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.12. The firm had revenue of $610.81 million for the quarter, compared to analysts' expectations of $607.51 million. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The company's revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 earnings per share. On average, equities research analysts anticipate that Exelixis, Inc. will post 3.07 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Royal Bank Of Canada reduced their price target on Exelixis from $46.00 to $43.00 and set a "sector perform" rating on the stock in a report on Monday, March 2nd. Barclays boosted their price target on Exelixis from $44.00 to $45.00 and gave the stock an "equal weight" rating in a report on Monday, April 20th. Wall Street Zen cut shares of Exelixis from a "strong-buy" rating to a "buy" rating in a research note on Saturday, April 18th. Zacks Research cut shares of Exelixis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 5th. Finally, Wells Fargo & Company boosted their price objective on shares of Exelixis from $35.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $47.83.

Institutional Trading of Exelixis

Institutional investors have recently added to or reduced their stakes in the stock. Richardson Financial Services Inc. boosted its holdings in Exelixis by 95.1% in the third quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company's stock valued at $25,000 after acquiring an additional 292 shares during the last quarter. Anchor Investment Management LLC boosted its position in Exelixis by 500.0% during the third quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company's stock valued at $25,000 after acquiring an additional 500 shares during the last quarter. Motiv8 Investments LLC bought a new stake in Exelixis during the fourth quarter valued at $26,000. Cassaday & Co Wealth Management LLC bought a new stake in Exelixis during the first quarter valued at $27,000. Finally, Root Financial Partners LLC bought a new stake in Exelixis during the third quarter valued at $28,000. 85.27% of the stock is currently owned by institutional investors.

About Exelixis

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis's translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company's most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.

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