Exelixis, Inc. (NASDAQ:EXEL) insider Michael Morrissey sold 259,149 shares of the stock in a transaction on Friday, May 5th. The shares were sold at an average price of $22.24, for a total value of $5,763,473.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Michael Morrissey also recently made the following trade(s):
- On Monday, May 8th, Michael Morrissey sold 11,300 shares of Exelixis stock. The shares were sold at an average price of $21.81, for a total value of $246,453.00.
- On Tuesday, May 9th, Michael Morrissey sold 100,000 shares of Exelixis stock. The shares were sold at an average price of $21.69, for a total value of $2,169,000.00.
- On Wednesday, May 10th, Michael Morrissey sold 211,300 shares of Exelixis stock. The stock was sold at an average price of $21.87, for a total value of $4,621,131.00.
- On Monday, March 6th, Michael Morrissey sold 200,000 shares of Exelixis stock. The stock was sold at an average price of $22.72, for a total value of $4,544,000.00.
Shares of Exelixis, Inc. (NASDAQ:EXEL) traded down 6.42% during trading on Friday, reaching $19.68. 5,867,718 shares of the company traded hands. The firm’s 50 day moving average is $21.41 and its 200-day moving average is $19.19. Exelixis, Inc. has a 12-month low of $5.70 and a 12-month high of $24.85. The stock has a market capitalization of $5.76 billion, a P/E ratio of 937.14 and a beta of 1.78.
Exelixis (NASDAQ:EXEL) last issued its earnings results on Monday, May 1st. The biotechnology company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.06. The firm had revenue of $80.90 million during the quarter, compared to the consensus estimate of $65.23 million. The company’s quarterly revenue was up 425.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.27) EPS. On average, equities research analysts anticipate that Exelixis, Inc. will post $0.18 earnings per share for the current fiscal year.
A number of brokerages have weighed in on EXEL. Needham & Company LLC began coverage on Exelixis in a report on Friday, March 31st. They set a “buy” rating and a $28.00 price target for the company. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of Exelixis in a report on Friday, April 21st. Cann reiterated a “hold” rating on shares of Exelixis in a report on Wednesday, April 19th. Zacks Investment Research downgraded Exelixis from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 3rd. Finally, CIBC assumed coverage on shares of Exelixis in a research report on Thursday, March 16th. They set a “market perform” rating on the stock. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $18.37.
Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Institutional Trust Company N.A. increased its position in shares of Exelixis by 7.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 5,770,563 shares of the biotechnology company’s stock worth $73,806,000 after buying an additional 413,100 shares during the period. KCG Holdings Inc. increased its position in shares of Exelixis by 2.2% in the third quarter. KCG Holdings Inc. now owns 130,582 shares of the biotechnology company’s stock worth $1,670,000 after buying an additional 2,780 shares during the period. Allianz Asset Management AG increased its position in shares of Exelixis by 30.2% in the fourth quarter. Allianz Asset Management AG now owns 1,091,543 shares of the biotechnology company’s stock worth $16,274,000 after buying an additional 253,123 shares during the period. Rock Springs Capital Management LP bought a new position in shares of Exelixis during the third quarter worth $1,599,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Exelixis during the fourth quarter worth $9,040,000. Institutional investors own 78.40% of the company’s stock.
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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