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

Exelixis, Inc. (NASDAQ:EXEL)’s share price fell 5.3% on Tuesday . The company traded as low as $37.80 and last traded at $37.09. 233,029 shares were traded 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.

Analysts Set New Price Targets

A number of research firms recently weighed in on EXEL. Barclays lifted their price objective on shares of Exelixis from $25.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, February 13th. Citigroup lifted their price objective on shares of Exelixis from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. StockNews.com raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 19th. Truist Financial lifted their price objective on shares of Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Brookline Capital Management assumed coverage on shares of Exelixis in a research report on Monday, December 23rd. They issued a “buy” rating on the stock. 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 issued a strong buy rating to the stock. According to MarketBeat, Exelixis has a consensus rating of “Moderate Buy” and a consensus target price of $37.24.

Exelixis Stock Up 1.1 %

The firm has a market capitalization of $10.53 billion, a PE ratio of 21.25, a PEG ratio of 1.13 and a beta of 0.57. The stock’s fifty day simple moving average is $35.25 and its 200 day simple moving average is $32.33.

Exelixis (NASDAQ:EXEL) last issued its earnings results 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 return on equity of 23.52% and a net margin of 24.04%. On average, analysts predict that Exelixis, Inc. will post 2.04 EPS for the current year.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 52,636 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $36.98, for a total transaction of $1,946,479.28. Following the completion of the transaction, the executive vice president now owns 303,310 shares in the company, valued at $11,216,403.80. This trade represents a 14.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mary C. Beckerle sold 12,210 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $34.88, for a total transaction of $425,884.80. Following the completion of the sale, the director now owns 30,406 shares of the company’s stock, valued at $1,060,561.28. This trade represents a 28.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 140,343 shares of company stock worth $5,177,234 over the last 90 days. 2.85% of the stock is owned by insiders.

Institutional Trading of Exelixis

A number of institutional investors have recently bought and sold shares of the stock. Coppell Advisory Solutions LLC purchased a new stake in shares of Exelixis in the 4th quarter valued at $25,000. Colonial Trust Co SC boosted its holdings in Exelixis by 616.9% during the fourth quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company’s stock worth $30,000 after buying an additional 765 shares in the last quarter. USA Financial Formulas purchased a new stake in Exelixis during the fourth quarter worth $32,000. Principal Securities Inc. boosted its holdings in Exelixis by 62.8% during the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock worth $32,000 after buying an additional 373 shares in the last quarter. Finally, Kestra Investment Management LLC purchased a new stake in Exelixis during the fourth quarter worth $39,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

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.