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Exelixis, Inc. (NASDAQ:EXEL), a $10.3 billion market cap company trading near its 52-week high of $37.64, recently reported a significant transaction involving its Chief Scientific Officer and Executive Vice President of Discovery (NASDAQ:WBD) and Translational Research, Aftab Dana. According to a Form 4 filing with the Securities and Exchange Commission, Dana sold 26,987 shares of Exelixis common stock on February 24, 2025. The shares were sold at a price of $36.75 each, resulting in a total transaction value of approximately $991,772.
Following the sale, Dana holds 511,908 shares directly, which includes 259,043 shares that will be issued upon the vesting of restricted stock units. Additionally, Dana indirectly holds 5,835 shares through the Exelixis, Inc. 401(k) Plan. These transactions provide a glimpse into the insider activity at Exelixis, a company engaged in the development of biological products.
In other recent news, Exelixis has been the subject of various analyst updates and financial forecasts. Truist Securities raised its price target for Exelixis shares to $43, citing optimism from the Phase 1 STELLAR-001 study, which supports the potential success of the Phase 3 STELLAR-303 study for the drug Zanza in colorectal cancer patients without liver metastases. Meanwhile, Stifel increased its price target for Exelixis to $36, maintaining a Hold rating, and highlighted the anticipated completion of the company’s share repurchase program by 2025 as a factor in their valuation. JMP Securities maintained a $41 price target with a Market Outperform rating, noting Exelixis’ fourth quarter 2024 revenue met market expectations and emphasizing the potential of zanzalintinib as a significant opportunity.
The company has been focusing on differentiating zanzalintinib from cabozantinib, aiming to address specific unmet medical needs in metastatic colorectal cancer. Recent clinical results for zanzalintinib in this area have been promising, contributing to the positive outlook from analysts. Exelixis is committed to advancing the clinical development of zanzalintinib, with the hope that it will become a significant therapeutic option. These developments suggest a continued focus on the company’s strategic initiatives and potential growth in its drug pipeline.
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