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In a recent transaction reported to the Securities and Exchange Commission, Jack Wyszomierski, a director at Exelixis, Inc. (NASDAQ:EXEL), sold a significant portion of his holdings in the company. On February 28, 2025, Wyszomierski sold 8,768 shares of Exelixis common stock at an average price of $37.80 per share, totaling $331,430. This sale was conducted under a Rule 10b5-1 trading plan that Wyszomierski adopted on November 29, 2024. The transaction occurs as Exelixis trades near its 52-week high of $38.72, with the stock delivering an impressive 74% return over the past year, according to InvestingPro data.
Additionally, Wyszomierski exercised options to acquire 15,874 shares of Exelixis common stock at a price of $20.50 per share, a transaction valued at $325,417. Following these transactions, Wyszomierski’s direct ownership in Exelixis totals 356,605 shares, which includes 18,838 shares that will be issued upon the vesting of restricted stock units.
These transactions are part of Wyszomierski’s ongoing management of his investment in Exelixis, a company based in Alameda, California, known for its work in the life sciences sector.
In other recent news, Exelixis has been the focus of several analyst updates and developments. Truist Securities raised its price target for Exelixis to $43, citing optimism from promising Phase 1 study data for the drug Zanza, which could influence the ongoing Phase 3 STELLAR-303 study for colorectal cancer patients. Meanwhile, JMP Securities maintained a Market Outperform rating with a $41 price target, highlighting Exelixis’s fourth quarter 2024 revenue that met market expectations and emphasizing the potential of Zanza as a $5 billion opportunity. Stifel also updated its stance, increasing the price target from $30 to $36, while maintaining a Hold rating, based on anticipated moderation in operational expenditure growth and the completion of a share repurchase program by 2025.
The focus remains on Exelixis’s drug development, particularly for Zanza, with analysts noting its potential to address specific unmet medical needs in colorectal cancer treatment. The STELLAR-001 study provided encouraging data, boosting confidence in the STELLAR-303 trial, especially for patients without liver metastases. While Stifel’s update considered lower success probabilities for certain cancer treatments, it still recognized the potential near-term boost from the share repurchase program.
Exelixis’s management continues to differentiate Zanza from its other products, aiming to improve upon existing treatments’ performance gaps. The company’s strategic focus on Zanza and its clinical trials reflects a commitment to advancing its pipeline and addressing specific patient needs. These recent developments underscore the varied analyst perspectives and the potential impact on Exelixis’s financial and market performance.
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