Axim Planning & Wealth Sells 16,327 Shares of Exelixis, Inc. $EXEL

Axim Planning & Wealth cut its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 74.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,490 shares of the biotechnology company’s stock after selling 16,327 shares during the period. Axim Planning & Wealth’s holdings in Exelixis were worth $241,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Farallon Capital Management LLC increased its holdings in shares of Exelixis by 21.6% in the 3rd quarter. Farallon Capital Management LLC now owns 19,501,500 shares of the biotechnology company’s stock worth $805,412,000 after buying an additional 3,466,000 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Exelixis by 20.7% in the 3rd quarter. AQR Capital Management LLC now owns 9,181,359 shares of the biotechnology company’s stock worth $379,190,000 after buying an additional 1,575,280 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Exelixis by 7.1% in the 3rd quarter. Invesco Ltd. now owns 5,960,525 shares of the biotechnology company’s stock worth $246,170,000 after buying an additional 394,897 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Exelixis by 1.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,259,677 shares of the biotechnology company’s stock worth $186,705,000 after buying an additional 78,765 shares during the last quarter. Finally, Morgan Stanley increased its holdings in shares of Exelixis by 31.0% in the 4th quarter. Morgan Stanley now owns 4,206,656 shares of the biotechnology company’s stock worth $184,378,000 after buying an additional 995,949 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EXEL. Stifel Nicolaus boosted their target price on shares of Exelixis from $44.00 to $47.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Exelixis in a report on Tuesday, May 19th. Royal Bank Of Canada cut their price target on shares of Exelixis from $46.00 to $43.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. Zacks Research downgraded shares of Exelixis from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Finally, Wells Fargo & Company upped their price target on shares of Exelixis from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $47.35.

Exelixis Trading Down 0.7%

Shares of NASDAQ:EXEL opened at $53.13 on Friday. The company has a market capitalization of $13.35 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 1.53 and a beta of 0.41. Exelixis, Inc. has a 12 month low of $33.76 and a 12 month high of $53.93. The firm’s 50-day moving average is $47.98 and its 200 day moving average is $44.89.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.75 by $0.12. The company had revenue of $610.81 million for the quarter, compared to the consensus estimate of $607.51 million. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The firm’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.55 EPS. As a group, equities analysts forecast that Exelixis, Inc. will post 3.16 EPS for the current fiscal year.

Insider Buying and Selling

In other Exelixis news, EVP Patrick J. Haley sold 32,110 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $49.81, for a total value of $1,599,399.10. Following the completion of the sale, the executive vice president directly owned 357,638 shares of the company’s stock, valued at $17,813,948.78. The trade was a 8.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jack L. Wyszomierski sold 3,925 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $50.55, for a total transaction of $198,408.75. Following the completion of the sale, the director directly owned 284,384 shares of the company’s stock, valued at approximately $14,375,611.20. This trade represents a 1.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 219,170 shares of company stock worth $10,620,641 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.

About Exelixis

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.