Exelixis EVP Haley Patrick J. sells $1.5 million in stock

Haley Patrick J., Executive Vice President of Commercial at Exelixis, Inc. (NASDAQ:EXEL), a biotech company with an impressive market capitalization of $11.7 billion and an "EXCELLENT" financial health rating according to InvestingPro, reported the sale of 34,387 shares of the company’s common stock on May 20, 2025. The shares were sold at a weighted average price of $44.06, amounting to a total transaction value of approximately $1.5 million. The transaction comes as Exelixis demonstrates strong market performance, with a 104% return over the past year and a perfect Piotroski Score of 9. Following this transaction, Haley retains ownership of 412,072 shares directly, with additional shares held indirectly by a spouse and through a 401(k) plan. InvestingPro analysis indicates the stock is currently undervalued, with 12 additional exclusive insights available to subscribers.

In other recent news, Exelixis reported strong first-quarter 2025 financial results, with revenues reaching approximately $555.4 million, surpassing consensus estimates. The company’s flagship cancer drug, Cabometyx, contributed significantly to this growth, particularly in treating renal cell carcinoma. Exelixis raised its full-year revenue guidance to a range of $2.25 to $2.35 billion, up from the previous forecast of $2.15 to $2.25 billion. Analysts have responded positively, with TD Cowen raising the stock price target to $44 while maintaining a Buy rating, and Lucid (NASDAQ:LCID) Capital Markets increasing the target to $37 with a Neutral rating.

Stifel analysts also raised their price target to $38, citing robust Cabometyx sales that exceeded expectations. RBC Capital Markets maintained an Outperform rating with a $40 target, highlighting the potential of Exelixis’s pipeline and upcoming clinical trial results. The company’s ongoing share repurchase program, with $505 million remaining, reflects management’s confidence in Exelixis’s value. Recent clinical trial results for zanzalintinib in kidney cancer have shown promising objective response and disease control rates, suggesting further potential in Exelixis’s oncology pipeline.

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