Exelixis director George Poste sells $551,462 in stock

Published 20/02/2025, 02:36
Exelixis director George Poste sells $551,462 in stock

Exelixis, Inc. (NASDAQ:EXEL) Director George Poste recently executed several transactions involving the company’s common stock. The transactions come as the company’s shares trade near their 52-week high, having delivered an impressive 70% return over the past year. According to a recent filing, Poste sold a total of 15,874 shares on February 14, 2025, at a weighted average price of $34.74 per share, amounting to approximately $551,462. The shares were sold in multiple transactions at prices ranging from $34.70 to $34.82. InvestingPro analysis suggests the stock is currently slightly undervalued.

In addition to these sales, Poste acquired 15,874 shares through the exercise of stock options at a price of $20.50 per share on the same day. This acquisition was valued at approximately $325,417. Following these transactions, Poste holds a total of 169,020 shares of Exelixis common stock, including 18,838 shares that will be issued upon the vesting of restricted stock units. The company, now valued at $9.82 billion, maintains a perfect Piotroski Score of 9, indicating exceptional financial strength.

The transactions were officially filed with the Securities and Exchange Commission, providing transparency and insight into the trading activities of Exelixis’ leadership. For deeper insights into insider trading patterns and comprehensive financial analysis, InvestingPro subscribers can access detailed research reports covering over 1,400 US stocks, including Exelixis.

In other recent news, Exelixis has seen a series of updates from analysts regarding its stock and drug development efforts. Truist Securities raised its price target for Exelixis shares to $43, up from $42, maintaining a Buy rating due to positive data from the Phase 1 STELLAR-001 study. This study bolstered confidence in the potential success of the Phase 3 STELLAR-303 study for Zanza, targeting colorectal cancer patients without liver metastases. Meanwhile, Stifel adjusted its price target for Exelixis to $36 from $30, maintaining a Hold rating. The firm cited anticipated operational expenditure growth moderation and the completion of a share repurchase program as factors influencing this decision.

JMP Securities maintained a $41 price target and a Market Outperform rating, highlighting Exelixis’s fourth-quarter 2024 revenue, which met market expectations, and the developmental focus on zanzalintinib. The analyst expressed optimism regarding the potential $5 billion opportunity presented by this investigational drug. Additionally, Stifel’s analysis of the STELLAR-001 study results for metastatic colorectal cancer noted incremental efficacy data for zanzalintinib, although their outlook on the Phase 3 STELLAR-303 trial remains unchanged.

These developments reflect the ongoing focus and investment in Exelixis’s drug pipeline, particularly for zanzalintinib, which is being closely watched by analysts and investors alike. The company’s strategic efforts, including share repurchases and clinical trials, are central to the current analyst assessments and stock price targets.

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