Oppenheimer & Co. Inc. cut its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 29.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 20,481 shares of the biotechnology company’s stock after selling 8,652 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Exelixis were worth $363,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. James Investment Research Inc. bought a new stake in Exelixis during the second quarter worth $133,000. Polaris Greystone Financial Group LLC bought a new stake in Exelixis during the third quarter worth $177,000. Fox Run Management L.L.C. bought a new stake in Exelixis during the third quarter worth $183,000. Advisors Asset Management Inc. grew its holdings in Exelixis by 94.7% during the second quarter. Advisors Asset Management Inc. now owns 41,168 shares of the biotechnology company’s stock worth $213,000 after buying an additional 20,025 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in Exelixis during the second quarter worth $217,000. 81.84% of the stock is currently owned by hedge funds and other institutional investors.

EXEL stock opened at $16.67 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.54 and a current ratio of 8.66. Exelixis, Inc. has a 1-year low of $13.42 and a 1-year high of $32.20. The firm has a market capitalization of $5.18 billion, a price-to-earnings ratio of 32.69, a price-to-earnings-growth ratio of 1.03 and a beta of 2.29.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Thursday, November 1st. The biotechnology company reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.22. Exelixis had a return on equity of 55.71% and a net margin of 49.53%. The business had revenue of $225.40 million for the quarter, compared to analysts’ expectations of $174.14 million. During the same quarter in the previous year, the firm earned $0.26 earnings per share. The business’s revenue was up 47.8% on a year-over-year basis. As a group, research analysts predict that Exelixis, Inc. will post 1.3 earnings per share for the current year.

In other Exelixis news, CMO Gisela Schwab sold 12,000 shares of the business’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $14.16, for a total value of $169,920.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael Morrissey sold 90,000 shares of the business’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $17.82, for a total value of $1,603,800.00. The disclosure for this sale can be found here. In the last three months, insiders sold 321,500 shares of company stock worth $5,646,160. Insiders own 4.80% of the company’s stock.

Several equities research analysts recently issued reports on EXEL shares. Morgan Stanley started coverage on Exelixis in a report on Monday, September 10th. They set an “underweight” rating and a $19.00 price target for the company. Goldman Sachs Group started coverage on Exelixis in a report on Monday, September 17th. They set a “neutral” rating and a $22.00 price target for the company. BidaskClub upgraded Exelixis from a “strong sell” rating to a “sell” rating in a report on Saturday, September 29th. Zacks Investment Research upgraded Exelixis from a “hold” rating to a “strong-buy” rating and set a $25.00 price target for the company in a report on Tuesday, July 31st. Finally, Piper Jaffray Companies decreased their price target on Exelixis from $29.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, November 5th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $29.44.

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Exelixis Profile

Exelixis, Inc, a biotechnology company, engages in the discovery, development, and commercialization of new medicines to enhance care and outcomes for people with cancer. The company's products include CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of patients with progressive and metastatic medullary thyroid cancer.

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Institutional Ownership by Quarter for Exelixis (NASDAQ:EXEL)

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