Exelixis Inc. reported a significant insider disposition in mid-February when Patrick J. Haley, the company’s Executive Vice President, Commercial, sold 67,814 shares of the company’s common stock for roughly $2.95 million. The trades executed on February 17, 2026 were priced between $43.50 and $43.84 per share, with the shares changing hands while the stock was trading near $44.46.
Company filings show the February 17 activity was split into two weighted-average tranches: 3,036 shares sold at a weighted average of $43.84 per share and 64,778 shares sold at a weighted average of $43.50 per share. These transactions are documented in a Form 4 filing with the Securities and Exchange Commission.
Earlier in the same reporting period, on February 15, 2026, Haley had 31,483 shares of common stock withheld by the company at a price of $43.92 per share. Those withheld shares, valued at $1,382,733, were applied to satisfy tax obligations associated with the vesting of performance-based restricted stock units.
After the February transactions, Haley's direct holdings total 446,686 shares. That aggregate includes 381,908 shares of common stock that remain subject to issuance upon vesting of restricted stock units and performance stock units granted to Haley on March 31, 2025.
From a market perspective, Exelixis carries a market capitalization of $11.57 billion and has generated a 26.8% price return over the last 12 months. The company is expected to report its next quarterly results on May 6, 2026.
Valuation metrics currently cited for the company include a price-to-earnings ratio of 15.9 and a price/earnings-to-growth ratio of 0.25. These figures have contributed to commentary that the stock appears attractively priced relative to its growth profile and implied fair value. The company is also described as maintaining an EXCELLENT financial health score under the available metric set, and analyst price targets span a range from $35 to $60 per share.
Recent operational results offer a mixed picture. In the fourth quarter of 2025 Exelixis reported earnings per share of $0.97, outperforming the consensus estimate of $0.80 by 21.25%. Revenue for the quarter measured $598.66 million, slightly below the projected $604.56 million.
Market reactions from broker research reflected the earnings beat. One firm raised its price target from $52.00 to $54.00 while keeping a Buy rating, attributing part of the upside in reported earnings to lower-than-expected tax expenses. Another firm retained a Market Outperform rating with a $50.00 price target and cited confidence in the company’s oncology candidate zanzalintinib following discussions at a major oncology meeting in 2025.
Analysts and research notes have highlighted Exelixis’s relatively low P/E ratio compared with near-term earnings growth expectations as a point for further consideration by investors. That observation forms part of the broader analytical context used to evaluate the company’s valuation and outlook.
Key points
- Patrick J. Haley sold 67,814 shares on February 17, 2026 for about $2.95 million at prices between $43.50 and $43.84.
- On February 15, 2026, 31,483 shares were withheld at $43.92 to cover taxes on vested performance-based restricted stock units; those shares were valued at $1,382,733.
- Exelixis is trading around $44.46, with valuation metrics including a P/E of 15.9 and a PEG of 0.25, and analyst targets range from $35 to $60.
Risks and uncertainties
- Revenue shortfall risk - Fourth-quarter 2025 revenue of $598.66 million missed the $604.56 million forecast, indicating potential top-line pressure that could affect future expectations.
- Reliance on drug development outcomes - Confidence in the company’s oncology candidate zanzalintinib contributes to some analyst optimism; clinical or regulatory setbacks could materially affect sentiment.
- Valuation sensitivity - While current P/E and PEG ratios appear favorable, near-term earnings volatility or changes in analyst forecasts could alter the attractiveness of the stock.
This report presents transaction and financial details as disclosed in company filings and recent quarterly results. Where applicable, the article reflects analyst commentary and consensus data provided alongside the corporate disclosures.