Pictet Asset Management Ltd. Sells 155,788 Shares of Exelixis, Inc. (EXEL)
Pictet Asset Management Ltd. lowered its stake in Exelixis, Inc. (NASDAQ:EXEL) by 12.3% during the second quarter, Holdings Channel reports. The fund owned 1,109,763 shares of the biotechnology company’s stock after selling 155,788 shares during the period. Pictet Asset Management Ltd.’s holdings in Exelixis were worth $20,764,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of EXEL. Dimensional Fund Advisors LP raised its position in Exelixis by 1,246.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 531,353 shares of the biotechnology company’s stock valued at $7,922,000 after buying an additional 491,877 shares during the last quarter. Highbridge Capital Management LLC raised its stake in shares of Exelixis by 114.4% in the fourth quarter. Highbridge Capital Management LLC now owns 15,223 shares of the biotechnology company’s stock worth $227,000 after buying an additional 8,123 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of Exelixis by 61.2% in the first quarter. Nationwide Fund Advisors now owns 284,279 shares of the biotechnology company’s stock worth $6,160,000 after buying an additional 107,889 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new stake in shares of Exelixis during the first quarter worth $383,000. Finally, Strs Ohio raised its stake in shares of Exelixis by 37.8% in the first quarter. Strs Ohio now owns 47,400 shares of the biotechnology company’s stock worth $1,027,000 after buying an additional 13,000 shares in the last quarter. Institutional investors and hedge funds own 80.19% of the company’s stock.
Exelixis, Inc. (NASDAQ EXEL) opened at 26.51 on Friday. The stock has a market cap of $7.79 billion, a PE ratio of 133.89 and a beta of 1.89. Exelixis, Inc. has a 1-year low of $10.04 and a 1-year high of $28.45. The stock has a 50 day moving average price of $26.12 and a 200-day moving average price of $22.29.
Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. Exelixis had a return on equity of 80.43% and a net margin of 18.20%. The company had revenue of $99.01 million for the quarter, compared to analysts’ expectations of $85.27 million. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. Exelixis’s revenue was up 173.1% compared to the same quarter last year. On average, equities analysts expect that Exelixis, Inc. will post $0.26 EPS for the current year.
A number of equities research analysts have recently weighed in on EXEL shares. Cann reiterated a “hold” rating on shares of Exelixis in a research report on Wednesday, April 19th. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Exelixis in a research report on Friday, April 21st. Zacks Investment Research lowered Exelixis from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. TheStreet upgraded Exelixis from a “d” rating to a “c+” rating in a research report on Tuesday, May 2nd. Finally, William Blair reiterated an “outperform” rating on shares of Exelixis in a research report on Friday, June 16th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $25.57.
In other Exelixis news, insider Patrick J. Haley sold 5,000 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $18.46, for a total transaction of $92,300.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Carl B. Feldbaum sold 32,988 shares of the stock in a transaction on Monday, May 15th. The shares were sold at an average price of $21.58, for a total value of $711,881.04. Following the sale, the director now directly owns 52,721 shares in the company, valued at approximately $1,137,719.18. The disclosure for this sale can be found here. 5.10% of the stock is owned by corporate insiders.
Exelixis Company Profile
Exelixis, Inc is a biopharmaceutical company. The Company is focused on discovery, development and commercialization of new medicines to manage care and outcomes for people with cancer. The Company’s cabozantinib product is an inhibitor of multiple tyrosine kinases, including MET, AXL, and VEGF receptors.
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