Exelixis, Inc. (NASDAQ:EXEL – Get Free Report) saw some unusual options trading on Thursday. Investors acquired 10,811 put options on the company. This represents an increase of approximately 1,351% compared to the typical daily volume of 745 put options.
Insider Activity at Exelixis
In other news, Director Sue Gail Eckhardt sold 9,812 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $50.14, for a total transaction of $491,973.68. Following the completion of the sale, the director owned 16,079 shares of the company’s stock, valued at $806,201.06. This represents a 37.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jack L. Wyszomierski sold 3,925 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $50.55, for a total transaction of $198,408.75. Following the transaction, the director owned 284,384 shares in the company, valued at $14,375,611.20. The trade was a 1.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 219,170 shares of company stock worth $10,620,641 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of EXEL. Versant Capital Management Inc increased its position in shares of Exelixis by 31.8% during the second quarter. Versant Capital Management Inc now owns 2,288 shares of the biotechnology company’s stock valued at $124,000 after acquiring an additional 552 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Exelixis by 24.9% in the 1st quarter. Pacer Advisors Inc. now owns 1,549,611 shares of the biotechnology company’s stock worth $66,463,000 after acquiring an additional 308,633 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of Exelixis by 5.7% during the 1st quarter. Parallel Advisors LLC now owns 9,115 shares of the biotechnology company’s stock worth $391,000 after purchasing an additional 495 shares during the period. Ramiah Investment Group acquired a new stake in Exelixis in the 1st quarter valued at approximately $225,000. Finally, Glenmede Trust Co. NA increased its holdings in Exelixis by 10.1% in the 1st quarter. Glenmede Trust Co. NA now owns 8,217 shares of the biotechnology company’s stock valued at $352,000 after purchasing an additional 757 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.
Exelixis Price Performance
Exelixis (NASDAQ:EXEL – Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.12. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The company had revenue of $610.81 million during the quarter, compared to analyst estimates of $607.51 million. During the same period in the prior year, the business posted $0.55 earnings per share. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, equities analysts forecast that Exelixis will post 3.16 earnings per share for the current year.
Analyst Ratings Changes
Several brokerages have recently weighed in on EXEL. UBS Group restated a “buy” rating on shares of Exelixis in a report on Thursday. Citizens Jmp lifted their price objective on Exelixis from $50.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Wednesday, June 24th. Wall Street Zen raised Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Truist Financial lowered Exelixis from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $51.00 to $54.00 in a research note on Thursday, June 25th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Exelixis in a report on Tuesday, May 19th. Nine research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $47.60.
Read Our Latest Stock Report on EXEL
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.
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