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Julie Smith, a director at Exelixis, Inc. (NASDAQ:EXEL), recently made significant transactions involving the company’s stock. According to a recent SEC filing, Smith sold a total of 73,808 shares, generating approximately $2.8 million. The sales occurred at prices ranging from $37.62 to $38.13 per share, near the stock’s 52-week high of $38.72. The timing is notable as EXEL has delivered an impressive 74% return over the past year. InvestingPro subscribers can access detailed insider trading patterns and 14 additional key insights about EXEL.
In addition to these sales, Smith also exercised options to acquire 73,808 shares of Exelixis common stock. The options were exercised at prices between $19.77 and $20.50 per share, totaling approximately $1.48 million.
Following these transactions, Smith now holds 10,778 shares of Exelixis stock directly. The transactions were part of a series of activities reported for the period ending February 27, 2025.
In other recent news, Exelixis has been the focus of several analyst updates and market activities. Truist Securities raised its price target for Exelixis to $43, citing optimism around the Phase 3 study for the drug Zanza, particularly for colorectal cancer patients without liver metastases. This follows encouraging data from the Phase 1 study, which has led to a refined revenue model and increased confidence in the drug’s potential approval. Meanwhile, JMP Securities maintained a Market Outperform rating with a $41 price target, emphasizing the company’s revenue alignment with expectations and the developmental prospects of zanzalintinib. The firm noted the drug’s potential as a $5 billion opportunity, particularly in metastatic colorectal cancer.
Stifel analysts adjusted their price target for Exelixis shares to $36, maintaining a Hold rating. This revision considers the anticipated completion of a share repurchase program and operational expenditure forecasts. Stifel also highlighted that results from the STELLAR-303 trial expected in 2025 could impact market sentiment. Despite these developments, the firm remains cautious about the stock’s performance. Additionally, Exelixis management continues to focus on differentiating zanzalintinib from its other products, aiming to address specific unmet medical needs in cancer treatment.
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