Exelixis, Inc. (EXEL) CEO Sells $935,600.00 in Stock

Exelixis, Inc. (NASDAQ:EXEL) CEO Michael Morrissey sold 40,000 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $23.39, for a total value of $935,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Michael Morrissey also recently made the following trade(s):

  • On Wednesday, April 10th, Michael Morrissey sold 40,000 shares of Exelixis stock. The shares were sold at an average price of $24.06, for a total value of $962,400.00.
  • On Wednesday, March 13th, Michael Morrissey sold 40,000 shares of Exelixis stock. The shares were sold at an average price of $24.64, for a total value of $985,600.00.
  • On Wednesday, February 27th, Michael Morrissey sold 40,000 shares of Exelixis stock. The shares were sold at an average price of $22.69, for a total value of $907,600.00.
  • On Thursday, February 14th, Michael Morrissey sold 40,000 shares of Exelixis stock. The shares were sold at an average price of $22.39, for a total value of $895,600.00.
  • On Wednesday, January 30th, Michael Morrissey sold 40,000 shares of Exelixis stock. The shares were sold at an average price of $23.12, for a total value of $924,800.00.
  • On Wednesday, January 16th, Michael Morrissey sold 40,000 shares of Exelixis stock. The shares were sold at an average price of $23.29, for a total value of $931,600.00.
  • On Wednesday, January 2nd, Michael Morrissey sold 6,046 shares of Exelixis stock. The shares were sold at an average price of $20.00, for a total value of $120,920.00.
  • On Friday, January 4th, Michael Morrissey sold 40,000 shares of Exelixis stock. The stock was sold at an average price of $20.11, for a total value of $804,400.00.

EXEL traded down $0.46 on Friday, hitting $20.90. The company had a trading volume of 4,162,462 shares, compared to its average volume of 2,613,924. The firm has a market cap of $6.30 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 0.42 and a beta of 2.21. Exelixis, Inc. has a 1 year low of $13.42 and a 1 year high of $25.31. The company has a current ratio of 8.50, a quick ratio of 8.41 and a debt-to-equity ratio of 0.01.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, February 12th. The biotechnology company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.14. The company had revenue of $228.60 million during the quarter, compared to the consensus estimate of $188.44 million. Exelixis had a return on equity of 48.90% and a net margin of 80.95%. Exelixis’s revenue was up 90.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.12 EPS. Equities research analysts forecast that Exelixis, Inc. will post 1.09 earnings per share for the current year.

Several research analysts have recently commented on the company. Zacks Investment Research lowered Exelixis from a “buy” rating to a “hold” rating in a report on Monday, February 11th. BidaskClub lowered Exelixis from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. Cowen reiterated a “buy” rating and set a $29.00 price target on shares of Exelixis in a report on Tuesday, February 26th. ValuEngine upgraded Exelixis from a “sell” rating to a “hold” rating in a report on Wednesday, January 9th. Finally, Oppenheimer reiterated a “buy” rating on shares of Exelixis in a report on Tuesday, March 19th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $29.88.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EXEL. Norges Bank acquired a new position in Exelixis in the 4th quarter valued at about $54,640,000. Oregon Public Employees Retirement Fund grew its position in Exelixis by 1,978.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,319,939 shares of the biotechnology company’s stock valued at $118,000 after acquiring an additional 2,208,347 shares in the last quarter. Fiera Capital Corp acquired a new position in Exelixis in the 4th quarter valued at about $39,370,000. Prudential Financial Inc. grew its position in Exelixis by 451.9% in the 4th quarter. Prudential Financial Inc. now owns 1,598,167 shares of the biotechnology company’s stock valued at $31,435,000 after acquiring an additional 1,308,617 shares in the last quarter. Finally, BlackRock Inc. grew its position in Exelixis by 3.8% in the 3rd quarter. BlackRock Inc. now owns 30,094,004 shares of the biotechnology company’s stock valued at $533,265,000 after acquiring an additional 1,096,629 shares in the last quarter. 75.95% of the stock is owned by institutional investors.

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About Exelixis

Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. 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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