George A. Scangos Sells 40,000 Shares of Exelixis, Inc. (EXEL) Stock

Exelixis, Inc. (NASDAQ:EXEL) Director George A. Scangos sold 40,000 shares of Exelixis stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $23.53, for a total value of $941,200.00. Following the completion of the transaction, the director now owns 1,363,031 shares of the company’s stock, valued at approximately $32,072,119.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Shares of NASDAQ:EXEL traded up $0.02 during trading hours on Friday, hitting $23.59. 3,907,686 shares of the company’s stock traded hands, compared to its average volume of 4,354,595. Exelixis, Inc. has a 1 year low of $13.42 and a 1 year high of $30.66. The firm has a market capitalization of $7.05 billion, a PE ratio of 46.25, a price-to-earnings-growth ratio of 1.46 and a beta of 2.09. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.66 and a quick ratio of 8.54.

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Exelixis (NASDAQ:EXEL) last announced its earnings results on Thursday, November 1st. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.22. Exelixis had a return on equity of 55.71% and a net margin of 49.53%. The business had revenue of $225.40 million during the quarter, compared to analyst estimates of $174.14 million. During the same quarter in the previous year, the business earned $0.26 earnings per share. The company’s revenue for the quarter was up 47.8% compared to the same quarter last year. Equities research analysts expect that Exelixis, Inc. will post 1.3 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in EXEL. Cornerstone Advisors Inc. purchased a new position in shares of Exelixis during the fourth quarter valued at approximately $38,000. IFP Advisors Inc boosted its position in shares of Exelixis by 188.2% during the fourth quarter. IFP Advisors Inc now owns 4,237 shares of the biotechnology company’s stock valued at $82,000 after buying an additional 2,767 shares during the period. Polaris Greystone Financial Group LLC purchased a new position in shares of Exelixis during the third quarter valued at approximately $177,000. Fox Run Management L.L.C. purchased a new position in shares of Exelixis during the third quarter valued at approximately $183,000. Finally, Advisors Asset Management Inc. boosted its position in shares of Exelixis by 94.7% during the second quarter. Advisors Asset Management Inc. now owns 41,168 shares of the biotechnology company’s stock valued at $213,000 after buying an additional 20,025 shares during the period. Institutional investors and hedge funds own 77.24% of the company’s stock.

EXEL has been the subject of several recent research reports. ValuEngine lowered Exelixis from a “hold” rating to a “sell” rating in a research report on Saturday, January 19th. BidaskClub lowered Exelixis from a “buy” rating to a “hold” rating in a research report on Saturday, January 19th. Piper Jaffray Companies dropped their price target on Exelixis from $29.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, November 5th. Oppenheimer set a $40.00 price target on Exelixis and gave the stock a “buy” rating in a research report on Thursday, November 15th. Finally, TheStreet upgraded Exelixis from a “c+” rating to a “b-” rating in a research report on Monday, December 17th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $28.38.

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About Exelixis

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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