Exelixis, Inc. (EXEL) Shares Gap Down Following Insider Selling

Exelixis, Inc. (NASDAQ:EXEL) shares gapped down before the market opened on Monday after an insider sold shares in the company. The stock had previously closed at $21.94, but opened at $24.47. Exelixis shares last traded at $23.77, with a volume of 4,065,188 shares trading hands.

Specifically, Director Stelios Papadopoulos sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $25.40, for a total transaction of $254,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Patrick J. Haley sold 60,640 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $27.21, for a total transaction of $1,650,014.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 842,850 shares of company stock worth $22,881,564. 5.10% of the stock is owned by company insiders.

EXEL has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Exelixis from a “hold” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research note on Tuesday, July 4th. BidaskClub upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 25th. Deutsche Bank AG cut shares of Exelixis from a “buy” rating to a “hold” rating and raised their target price for the stock from $26.00 to $29.00 in a research note on Thursday, August 3rd. Stifel Nicolaus restated a “hold” rating and set a $26.00 target price on shares of Exelixis in a research note on Thursday, September 7th. Finally, SunTrust Banks, Inc. initiated coverage on shares of Exelixis in a research note on Thursday, July 13th. They set a “buy” rating and a $33.00 target price on the stock. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Exelixis presently has a consensus rating of “Buy” and a consensus price target of $27.95.

The company has a market cap of $6.87 billion, a PE ratio of 117.98 and a beta of 1.97. The stock’s 50 day moving average is $27.08 and its 200-day moving average is $23.49.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. Exelixis had a return on equity of 80.43% and a net margin of 18.20%. The firm had revenue of $99.01 million for the quarter, compared to analyst estimates of $85.27 million. During the same quarter last year, the firm posted ($0.15) EPS. The business’s revenue was up 173.1% on a year-over-year basis. On average, equities analysts expect that Exelixis, Inc. will post $0.27 EPS for the current year.

Several large investors have recently made changes to their positions in EXEL. Great West Life Assurance Co. Can lifted its position in shares of Exelixis by 26.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 28,342 shares of the biotechnology company’s stock valued at $613,000 after buying an additional 6,000 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Exelixis by 7.3% during the 1st quarter. Bank of New York Mellon Corp now owns 1,264,985 shares of the biotechnology company’s stock valued at $27,412,000 after buying an additional 86,522 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Exelixis by 14.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,751 shares of the biotechnology company’s stock valued at $320,000 after buying an additional 1,838 shares in the last quarter. Karp Capital Management Corp purchased a new position in shares of Exelixis during the 1st quarter valued at approximately $1,232,000. Finally, Ameriprise Financial Inc. lifted its position in shares of Exelixis by 4.8% during the 1st quarter. Ameriprise Financial Inc. now owns 396,970 shares of the biotechnology company’s stock valued at $8,601,000 after buying an additional 18,192 shares in the last quarter. Hedge funds and other institutional investors own 79.20% of the company’s stock.

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Exelixis Company Profile

Exelixis, Inc is a biopharmaceutical company. The Company is focused on discovery, development and commercialization of new medicines to manage care and outcomes for people with cancer. The Company’s cabozantinib product is an inhibitor of multiple tyrosine kinases, including MET, AXL, and VEGF receptors.

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