Exelixis (EXEL) Hits New 12-Month Low Following Insider Selling

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Exelixis, Inc. (NASDAQ:EXEL)’s share price hit a new 52-week low during trading on Monday following insider selling activity. The stock traded as low as $17.80 and last traded at $17.53, with a volume of 252868 shares traded. The stock had previously closed at $19.19.

Specifically, Director Vincent T. Marchesi sold 40,000 shares of the stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $19.50, for a total transaction of $780,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Gisela Schwab sold 22,500 shares of the stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $21.20, for a total value of $477,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 813,390 shares of company stock valued at $16,844,917 over the last quarter. Corporate insiders own 4.80% of the company’s stock.

A number of research analysts have recently commented on the company. ValuEngine downgraded Exelixis from a “sell” rating to a “strong sell” rating in a research report on Friday, June 22nd. BidaskClub upgraded Exelixis from a “strong sell” rating to a “sell” rating in a research report on Friday, June 22nd. Zacks Investment Research upgraded Exelixis from a “sell” rating to a “hold” rating in a research report on Monday, April 30th. Needham & Company LLC lowered their target price on Exelixis from $33.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, May 11th. Finally, Piper Jaffray Companies lowered their target price on Exelixis from $33.00 to $29.00 and set an “overweight” rating for the company in a research report on Thursday, May 10th. Two analysts have rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $32.67.

The stock has a market capitalization of $6.08 billion, a PE ratio of 34.57 and a beta of 2.02.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Wednesday, August 1st. The biotechnology company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.12. The company had revenue of $186.10 million during the quarter, compared to the consensus estimate of $157.37 million. Exelixis had a return on equity of 65.68% and a net margin of 48.17%. Exelixis’s revenue was up 88.0% on a year-over-year basis. During the same period last year, the company earned $0.06 earnings per share. equities research analysts predict that Exelixis, Inc. will post 1.03 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Exelixis by 77.8% in the second quarter. BlackRock Inc. now owns 28,997,375 shares of the biotechnology company’s stock worth $624,024,000 after buying an additional 12,689,909 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Exelixis by 109.4% in the first quarter. JPMorgan Chase & Co. now owns 5,035,494 shares of the biotechnology company’s stock worth $111,537,000 after buying an additional 2,630,991 shares during the last quarter. Renaissance Technologies LLC lifted its position in Exelixis by 28.1% in the second quarter. Renaissance Technologies LLC now owns 4,037,810 shares of the biotechnology company’s stock worth $86,894,000 after buying an additional 885,000 shares during the last quarter. Wells Fargo & Company MN lifted its position in Exelixis by 24.2% in the first quarter. Wells Fargo & Company MN now owns 3,818,088 shares of the biotechnology company’s stock worth $84,571,000 after buying an additional 743,225 shares during the last quarter. Finally, Voya Investment Management LLC increased its stake in Exelixis by 37.1% in the second quarter. Voya Investment Management LLC now owns 3,741,235 shares of the biotechnology company’s stock worth $80,512,000 after purchasing an additional 1,013,121 shares during the period. Institutional investors own 77.56% of the company’s stock.

Exelixis Company Profile (NASDAQ:EXEL)

Exelixis, Inc, a biotechnology company, engages in the discovery, development, and commercialization of new medicines to enhance care and outcomes for people with cancer. The company's products include 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 patients with progressive and metastatic medullary thyroid cancer.

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