Exelixis, INC. (NASDAQ: EXEL) recorded an insider sale on February 13, 2026, when director Sue Gail Eckhardt disposed of 3,856 shares of common stock for approximately $168,854. The shares changed hands at prices ranging from $42.89 to $43.89. The sale was carried out under a Rule 10b5-1 trading plan that the director adopted on November 11, 2025.
Following the transaction, Eckhardt's direct holdings in Exelixis total 17,524 shares of common stock, including shares scheduled to be issued upon the vesting of restricted stock units. The company is trading at $44.47 per share and is valued at about $11.55 billion. Financial metrics reported alongside the transaction include a price-to-earnings ratio of 15.94 and a return on equity of 36%.
In the firm's most recent quarter, Exelixis reported fourth-quarter 2025 earnings per share of $0.97, exceeding the consensus forecast of $0.80 by 21.25%. Revenue for the quarter came in at $598.66 million, narrowly missing the expected $604.56 million. Market participants and analysts reacted to the results with modest revisions to their models and ratings.
Among analyst moves, H.C. Wainwright raised its price target for Exelixis from $52 to $54 while keeping a Buy rating, citing the earnings beat and attributing it in part to lower-than-expected tax expenses. Citizens maintained its Market Outperform rating and a $50 price target, pointing to optimism around the company’s cancer therapy zanzalintinib. Presentations and discussions at the ESMO 2025 meeting reinforced confidence in zanzalintinib’s potential, particularly for metastatic colorectal cancer.
Corporate actions provide an additional layer of context for the insider sale. Management has been actively repurchasing shares, a fact that market data shows continues alongside the director's disposition of stock. Separately, valuation analysis indicates the shares may be trading below assessed Fair Value, with some analyst price targets reaching as high as $60.
The combination of an insider sale executed under an established trading plan, a quarterly earnings beat, a slight revenue shortfall, continued share repurchases, and optimistic analyst targets paints a nuanced picture of Exelixis’ current position. Each of these elements is observable in the company’s recent disclosures and the analysts’ published guidance and commentary.
Sector impact: Biotechnology and healthcare markets are most directly affected by the developments described, while broader equity markets may take note of the company's valuation metrics and repurchase activity.