Exelixis (NASDAQ:EXEL) Director Sue Gail Eckhardt Sells 9,812 Shares of Stock

Exelixis, Inc. (NASDAQ:EXEL) Director Sue Gail Eckhardt sold 9,812 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $50.14, for a total value of $491,973.68. Following the sale, the director owned 16,079 shares in the company, valued at approximately $806,201.06. This trade represents a 37.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Exelixis Stock Performance

Shares of Exelixis stock opened at $51.60 on Thursday. The stock has a market cap of $12.97 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 1.02 and a beta of 0.41. The stock has a 50 day moving average price of $46.54 and a 200-day moving average price of $44.39. Exelixis, Inc. has a one year low of $33.76 and a one year high of $52.96.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.12. The company had revenue of $610.81 million for the quarter, compared to analyst estimates of $607.51 million. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.Exelixis’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 EPS. Sell-side analysts predict that Exelixis, Inc. will post 3.18 earnings per share for the current fiscal year.

Institutional Trading of Exelixis

A number of large investors have recently modified their holdings of EXEL. Anchor Investment Management LLC raised its position in Exelixis by 500.0% during the 3rd quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 500 shares in the last quarter. Motiv8 Investments LLC bought a new position in shares of Exelixis during the 4th quarter worth $26,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Exelixis during the first quarter valued at $27,000. Western Wealth Management LLC purchased a new position in shares of Exelixis during the first quarter valued at $29,000. Finally, Acumen Wealth Advisors LLC bought a new stake in shares of Exelixis in the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on EXEL shares. TD Cowen raised their target price on shares of Exelixis from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. HC Wainwright upped their price target on shares of Exelixis from $54.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Stifel Nicolaus increased their price objective on shares of Exelixis from $44.00 to $47.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. Zacks Research lowered Exelixis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Finally, Wall Street Zen raised Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $47.35.

Exelixis Company Profile

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.