The President & CEO of Exelixis (EXEL) is Buying Shares


Yesterday, the President & CEO of Exelixis (EXEL), Michael Morrissey, bought shares of EXEL for $104.8K.

This is Morrissey’s first Buy trade following 5 Sell transactions. This recent transaction increases Michael Morrissey’s holding in the company by 4.84% to a total of $6.32 million.

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Based on Exelixis’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $214 million and quarterly net profit of $75.78 million. In comparison, last year the company earned revenue of $212 million and had a net profit of $116 million. EXEL’s market cap is $6.02B and the company has a P/E ratio of 9.61. Currently, Exelixis has an average volume of 2.01M.

Based on 5 analyst ratings, the analyst consensus is Strong Buy with an average price target of $31.80, reflecting a 59.2% upside. Four different firms, including Cowen & Co. and Oppenheimer, currently also have a Buy rating on the stock.

In the last 30 days, insiders have sold $1.02M worth of EXEL shares and purchased $173.3K worth of EXEL shares. The insider sentiment on Exelixis has been positive according to 88 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

Michael Morrissey’s trades have generated a 28.8% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.

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Exelixis, Inc. is a biopharmaceutical company, which engages in the development, commercialization, and discovery of new medicines for the treatment of cancer. It offers products under the brands of Cometriq, Cabometyx, and Cotellic.

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