Patrick J. Haley Sells 52,636 Shares of Exelixis, Inc. (NASDAQ:EXEL) Stock

Exelixis, Inc. (NASDAQ:EXEL) EVP Patrick J. Haley sold 52,636 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $36.98, for a total transaction of $1,946,479.28. Following the completion of the transaction, the executive vice president now owns 303,310 shares of the company’s stock, valued at approximately $11,216,403.80. This represents a 14.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Exelixis Trading Up 2.8 %

Shares of EXEL opened at $38.69 on Friday. Exelixis, Inc. has a 12-month low of $20.14 and a 12-month high of $38.72. The firm has a 50-day moving average price of $34.53 and a 200 day moving average price of $31.62. The firm has a market capitalization of $10.83 billion, a P/E ratio of 21.86, a P/E/G ratio of 1.13 and a beta of 0.53.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. Equities research analysts predict that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

EXEL has been the subject of several analyst reports. Oppenheimer cut shares of Exelixis from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $41.00 to $33.00 in a research note on Friday, January 24th. Citigroup upped their price objective on shares of Exelixis from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. HC Wainwright restated a “buy” rating and set a $40.00 price objective on shares of Exelixis in a research report on Thursday, February 13th. Stifel Nicolaus upped their price objective on shares of Exelixis from $30.00 to $36.00 and gave the stock a “hold” rating in a research report on Wednesday, February 12th. Finally, UBS Group upped their price objective on shares of Exelixis from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Exelixis presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.24.

Institutional Investors Weigh In On Exelixis

A number of hedge funds have recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Exelixis in the fourth quarter valued at about $11,998,000. Forum Financial Management LP purchased a new position in Exelixis during the fourth quarter worth about $241,000. GF Fund Management CO. LTD. purchased a new position in Exelixis during the fourth quarter worth about $200,000. Neo Ivy Capital Management boosted its stake in Exelixis by 427.8% during the fourth quarter. Neo Ivy Capital Management now owns 53,892 shares of the biotechnology company’s stock worth $1,794,000 after buying an additional 43,682 shares during the period. Finally, JT Stratford LLC purchased a new position in Exelixis during the fourth quarter worth about $288,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

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.