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In a recent transaction reported to the SEC, Oliver Bob, a director at Exelixis, Inc. (NASDAQ:EXEL), sold 18,647 shares of the company’s common stock. The shares were sold at a price of $37.25 each, amounting to a total transaction value of $694,600. The sale occurs as EXEL trades near its 52-week high of $37.64, having delivered an impressive 73% return over the past year. According to InvestingPro analysis, the stock shows several bullish indicators.
In addition to the sale, Bob exercised options to acquire 15,147 shares of Exelixis common stock at a price of $19.28 per share, marking a transaction valued at $292,034. Following these transactions, Bob holds 33,514 shares directly, including 32,470 shares that will be issued upon the vesting of restricted stock units. The company maintains strong financial health with a perfect Piotroski Score of 9, while management has been actively buying back shares.
These transactions are part of routine financial activities for company insiders and provide valuable insights into insider trading patterns for investors. For deeper insights into EXEL’s valuation and 15 additional key indicators, explore the comprehensive research available on InvestingPro.
In other recent news, Exelixis has seen multiple updates from analyst firms regarding its stock and drug development prospects. Stifel analysts have raised their price target for Exelixis to $36, citing factors such as the anticipated moderation in operational expenditure growth and the completion of a share repurchase program by the end of 2025. Despite this increase, Stifel maintains a Hold rating on the stock. Meanwhile, JMP Securities has kept a Market Outperform rating with a $41 price target, highlighting Exelixis’s fourth-quarter 2024 revenue meeting expectations and the potential of their investigational drug, zanzalintinib, particularly for metastatic colorectal cancer.
Truist Securities has also adjusted its outlook on Exelixis, raising the price target to $43 due to encouraging Phase 1 study results for zanzalintinib. This has bolstered confidence in the ongoing Phase 3 study, STELLAR-303, especially for colorectal cancer patients without liver metastases. These developments reflect a positive sentiment from Truist, anticipating potential approval and market impact for zanzalintinib.
Additionally, Exelixis’s presentation at the ASCO-GI meeting provided incremental efficacy data for zanzalintinib, though Stifel’s outlook on the Phase 3 STELLAR-303 trial remains unchanged. The focus on zanzalintinib’s development, especially in comparison to existing treatments, continues to be a central theme in analyst evaluations, with firms like JMP Securities emphasizing its unique attributes and potential to meet unmet medical needs.
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