First Trust Advisors LP Has $59.35 Million Holdings in Exelixis, Inc. $EXEL

First Trust Advisors LP cut its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 23.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,436,977 shares of the biotechnology company’s stock after selling 433,151 shares during the period. First Trust Advisors LP owned approximately 0.54% of Exelixis worth $59,347,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TriaGen Wealth Management LLC bought a new stake in shares of Exelixis during the third quarter worth $2,024,000. BridgePort Financial Solutions LLC acquired a new stake in shares of Exelixis during the third quarter worth $517,000. Candriam S.C.A. lifted its position in Exelixis by 18.4% in the 3rd quarter. Candriam S.C.A. now owns 696,104 shares of the biotechnology company’s stock valued at $28,749,000 after acquiring an additional 108,367 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in Exelixis by 153.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 2,462,948 shares of the biotechnology company’s stock worth $101,720,000 after purchasing an additional 1,490,520 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in Exelixis in the 2nd quarter worth $321,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Price Performance

Shares of NASDAQ:EXEL opened at $41.29 on Wednesday. The company’s 50-day moving average price is $43.45 and its two-hundred day moving average price is $41.64. Exelixis, Inc. has a one year low of $32.38 and a one year high of $49.62. The stock has a market capitalization of $10.72 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 0.95 and a beta of 0.41.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.20. Exelixis had a return on equity of 36.29% and a net margin of 33.73%.The company had revenue of $598.66 million during the quarter, compared to analysts’ expectations of $609.17 million. During the same quarter last year, the company earned $0.55 EPS. Exelixis’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Transactions at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 67,814 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $43.52, for a total value of $2,951,265.28. Following the completion of the transaction, the executive vice president directly owned 381,908 shares in the company, valued at $16,620,636.16. This trade represents a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Dana Aftab sold 47,918 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $44.50, for a total value of $2,132,351.00. Following the transaction, the executive vice president directly owned 616,106 shares in the company, valued at $27,416,717. This trade represents a 7.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 362,849 shares of company stock valued at $15,917,463. 2.85% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wolfe Research initiated coverage on Exelixis in a report on Tuesday, November 18th. They set a “peer perform” rating for the company. Morgan Stanley upped their price objective on Exelixis from $48.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Monday, February 2nd. UBS Group set a $41.00 price objective on Exelixis in a report on Monday, January 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Exelixis in a research report on Thursday, January 22nd. Finally, Citigroup cut Exelixis from a “market outperform” rating to an “underperform” rating in a research note on Monday, January 5th. Ten research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Exelixis presently has an average rating of “Hold” and a consensus price target of $46.94.

Exelixis Company Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.