The EVP, Scientific Strategy & CSO of Exelixis (NASDAQ: EXEL) is Buying Shares

By Carrie Williams

Yesterday, the EVP, Scientific Strategy & CSO of Exelixis (EXELResearch Report), Peter Lamb, bought shares of EXEL for $897.9K.

Following this transaction Peter Lamb’s holding in the company was increased by 1767.22% to a total of $3.18 million. Following Peter Lamb’s last EXEL Buy transaction on October 16, 2015, the stock climbed by 15.2%.

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Based on Exelixis’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $214 million and quarterly net profit of $75.78 million. In comparison, last year the company earned revenue of $212 million and had a net profit of $116 million. EXEL’s market cap is $6.32B and the company has a P/E ratio of 10.09. Currently, Exelixis has an average volume of 1.53M.

Based on 5 analyst ratings, the analyst consensus is Strong Buy with an average price target of $27.75, reflecting a 32.3% upside. Four different firms, including Cowen & Co. and Oppenheimer, currently also have a Buy rating on the stock.

The insider sentiment on Exelixis has been positive according to 91 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

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Exelixis, Inc. is a biopharmaceutical company, which engages in the development, commercialization, and discovery of new medicines for the treatment of cancer. It offers products under the brands of Cometriq, Cabometyx, and Cotellic.