Insider Selling: Exelixis, Inc. (NASDAQ:EXEL) CFO Sells $4,600,000.00 in Stock

Exelixis, Inc. (NASDAQ:EXEL) CFO Christopher J. Senner sold 100,000 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $46.00, for a total transaction of $4,600,000.00. Following the completion of the sale, the chief financial officer now owns 967,842 shares in the company, valued at $44,520,732. This represents a 9.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Exelixis Stock Down 1.9%

Shares of NASDAQ:EXEL opened at $45.40 on Monday. The stock has a market cap of $12.51 billion, a PE ratio of 25.65, a PEG ratio of 1.13 and a beta of 0.25. Exelixis, Inc. has a 52 week low of $20.14 and a 52 week high of $48.85. The company’s fifty day moving average is $37.23 and its 200 day moving average is $35.84.

Wall Street Analyst Weigh In

EXEL has been the topic of a number of research analyst reports. StockNews.com lowered shares of Exelixis from a “strong-buy” rating to a “buy” rating in a report on Thursday. Stifel Nicolaus increased their price target on shares of Exelixis from $36.00 to $38.00 and gave the stock a “hold” rating in a report on Wednesday, May 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 price target on shares of Exelixis in a report on Wednesday, May 14th. Barclays increased their price target on shares of Exelixis from $25.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, February 13th. Finally, HC Wainwright reissued a “buy” rating and issued a $40.00 price target on shares of Exelixis in a report on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $38.76.

Institutional Investors Weigh In On Exelixis

A number of large investors have recently added to or reduced their stakes in EXEL. Coppell Advisory Solutions LLC bought a new stake in Exelixis in the 4th quarter worth $25,000. Hemington Wealth Management grew its holdings in Exelixis by 211.3% in the 1st quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 522 shares during the last quarter. Colonial Trust Co SC grew its holdings in Exelixis by 616.9% in the 4th quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company’s stock worth $30,000 after acquiring an additional 765 shares during the last quarter. USA Financial Formulas bought a new stake in Exelixis in the 4th quarter worth $32,000. Finally, Principal Securities Inc. grew its holdings in Exelixis by 62.8% in the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 373 shares during the last quarter. 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.