Vanguard Group Inc. Cuts Position in Exelixis, Inc. $EXEL

Vanguard Group Inc. lowered its position in Exelixis, Inc. (NASDAQ:EXEL) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,490,449 shares of the biotechnology company’s stock after selling 574,122 shares during the quarter. Vanguard Group Inc. owned 0.10% of Exelixis worth $1,117,246,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Concurrent Investment Advisors LLC increased its position in shares of Exelixis by 31.4% in the fourth quarter. Concurrent Investment Advisors LLC now owns 31,421 shares of the biotechnology company’s stock valued at $1,377,000 after buying an additional 7,512 shares in the last quarter. Chicago Partners Investment Group LLC increased its position in shares of Exelixis by 75.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 15,762 shares of the biotechnology company’s stock valued at $698,000 after buying an additional 6,795 shares in the last quarter. waypoint wealth counsel purchased a new position in shares of Exelixis in the fourth quarter valued at $350,000. West Michigan Advisors LLC purchased a new position in shares of Exelixis in the fourth quarter valued at $236,000. Finally, HB Wealth Management LLC increased its position in shares of Exelixis by 19.0% in the fourth quarter. HB Wealth Management LLC now owns 29,299 shares of the biotechnology company’s stock valued at $1,284,000 after buying an additional 4,669 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Stifel Nicolaus lifted their price objective on Exelixis from $43.00 to $44.00 and gave the stock a “hold” rating in a research report on Wednesday, February 11th. Truist Financial upgraded Exelixis to a “strong-buy” rating in a research report on Monday, April 27th. Bank of America cut Exelixis from a “neutral” rating to an “underperform” rating and set a $41.00 price objective for the company. in a research report on Monday, January 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Exelixis in a research note on Thursday, January 22nd. Finally, Morgan Stanley raised their price target on Exelixis from $48.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $47.00.

Exelixis Price Performance

NASDAQ EXEL opened at $43.68 on Friday. The firm has a market capitalization of $11.10 billion, a P/E ratio of 15.77, a P/E/G ratio of 1.00 and a beta of 0.38. Exelixis, Inc. has a 1-year low of $33.76 and a 1-year high of $49.62. The business’s 50-day simple moving average is $43.31 and its 200-day simple moving average is $42.77.

Exelixis (NASDAQ:EXEL) last released 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. The business had revenue of $598.66 million for the quarter, compared to analyst estimates of $609.17 million. Exelixis had a return on equity of 36.29% and a net margin of 33.73%.The company’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.55 EPS. On average, equities research analysts expect that Exelixis, Inc. will post 3.07 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jack L. Wyszomierski sold 99,574 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $44.01, for a total transaction of $4,382,251.74. Following the transaction, the director directly owned 279,942 shares of the company’s stock, valued at approximately $12,320,247.42. The trade was a 26.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Bob Oliver sold 30,250 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $43.81, for a total value of $1,325,252.50. Following the transaction, the director directly owned 21,120 shares in the company, valued at $925,267.20. This trade represents a 58.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 362,849 shares of company stock worth $15,917,463. 2.82% of the stock is owned by insiders.

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.