Exelixis (NASDAQ:EXEL) Shares Down 5.3% – Time to Sell?

Exelixis, Inc. (NASDAQ:EXEL)’s stock price fell 5.3% during mid-day trading on Tuesday . The stock traded as low as $37.80 and last traded at $37.09. 233,029 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 2,074,193 shares. The stock had previously closed at $39.16.

Wall Street Analyst Weigh In

EXEL has been the topic of several recent analyst reports. Guggenheim reiterated a “buy” rating and set a $42.00 target price on shares of Exelixis in a report on Wednesday, February 12th. Truist Financial lifted their target price on Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Brookline Capital Management started coverage on Exelixis in a report on Monday, December 23rd. They set a “buy” rating on the stock. UBS Group lifted their price target on Exelixis from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Finally, HC Wainwright reissued a “buy” rating and issued a $40.00 price target on shares of Exelixis in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.24.

Exelixis Stock Up 1.1 %

The firm has a 50 day simple moving average of $35.25 and a two-hundred day simple moving average of $32.33. The stock has a market capitalization of $10.53 billion, a P/E ratio of 21.25, a PEG ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. On average, research analysts predict that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Insider Buying and Selling at Exelixis

In related news, EVP Patrick J. Haley sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $38.80, for a total value of $388,000.00. Following the transaction, the executive vice president now owns 341,028 shares of the company’s stock, valued at approximately $13,231,886.40. This trade represents a 2.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bob Oliver sold 18,647 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $37.25, for a total transaction of $694,600.75. Following the completion of the transaction, the director now directly owns 33,514 shares in the company, valued at approximately $1,248,396.50. The trade was a 35.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 140,343 shares of company stock valued at $5,177,234. 2.85% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Exelixis

Large investors have recently added to or reduced their stakes in the business. Coppell Advisory Solutions LLC purchased a new stake in Exelixis in the 4th quarter valued at about $25,000. Colonial Trust Co SC increased its stake in Exelixis by 616.9% in the 4th quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company’s stock valued at $30,000 after buying an additional 765 shares during the last quarter. USA Financial Formulas purchased a new stake in Exelixis in the 4th quarter valued at about $32,000. Principal Securities Inc. increased its stake in Exelixis by 62.8% in the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 373 shares during the last quarter. Finally, Kestra Investment Management LLC purchased a new stake in Exelixis in the 4th quarter valued at about $39,000. Institutional investors own 85.27% of the company’s stock.

Exelixis Company Profile

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers 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 progressive and metastatic medullary thyroid cancer.