PNC Financial Services Group Inc. Has $407,000 Stake in Exelixis, Inc. (NASDAQ:EXEL)

PNC Financial Services Group Inc. reduced its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,953 shares of the biotechnology company’s stock after selling 844 shares during the period. PNC Financial Services Group Inc.’s holdings in Exelixis were worth $407,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Fisher Asset Management LLC grew its holdings in Exelixis by 232.6% in the fourth quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 728 shares during the period. Contravisory Investment Management Inc. acquired a new stake in shares of Exelixis in the 4th quarter valued at about $26,000. GAMMA Investing LLC acquired a new stake in Exelixis in the 4th quarter valued at $27,000. USA Financial Formulas increased its stake in Exelixis by 1,548.0% during the 4th quarter. USA Financial Formulas now owns 2,060 shares of the biotechnology company’s stock valued at $49,000 after purchasing an additional 1,935 shares in the last quarter. Finally, KBC Group NV acquired a new position in Exelixis during the fourth quarter worth $145,000. 85.27% of the stock is owned by institutional investors.

Exelixis Trading Down 0.3 %

EXEL stock opened at $22.47 on Friday. Exelixis, Inc. has a 1-year low of $18.64 and a 1-year high of $24.34. The stock has a market cap of $6.81 billion, a price-to-earnings ratio of 35.11, a price-to-earnings-growth ratio of 0.55 and a beta of 0.56. The company’s 50 day moving average is $21.86 and its 200 day moving average is $22.34.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.16). Exelixis had a return on equity of 8.85% and a net margin of 11.10%. The company had revenue of $425.23 million during the quarter, compared to the consensus estimate of $461.04 million. During the same period in the previous year, the company earned $0.12 EPS. Exelixis’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, sell-side analysts forecast that Exelixis, Inc. will post 1.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director David Edward Johnson acquired 200,000 shares of Exelixis stock in a transaction dated Tuesday, May 28th. The shares were purchased at an average cost of $20.32 per share, for a total transaction of $4,064,000.00. Following the transaction, the director now owns 1,300,730 shares of the company’s stock, valued at $26,430,833.60. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Exelixis news, Director Jack L. Wyszomierski sold 10,923 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $21.37, for a total transaction of $233,424.51. Following the completion of the sale, the director now directly owns 338,948 shares in the company, valued at $7,243,318.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David Edward Johnson acquired 200,000 shares of Exelixis stock in a transaction dated Tuesday, May 28th. The shares were bought at an average cost of $20.32 per share, for a total transaction of $4,064,000.00. Following the completion of the purchase, the director now directly owns 1,300,730 shares of the company’s stock, valued at approximately $26,430,833.60. The disclosure for this purchase can be found here. Insiders sold a total of 30,896 shares of company stock valued at $660,677 over the last 90 days. Insiders own 2.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. StockNews.com raised Exelixis from a “buy” rating to a “strong-buy” rating in a report on Thursday. JMP Securities restated a “market outperform” rating and set a $27.00 price target on shares of Exelixis in a research note on Wednesday, April 10th. Stephens started coverage on shares of Exelixis in a research note on Tuesday, May 14th. They issued an “equal weight” rating and a $23.00 price objective for the company. Barclays downgraded Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 target price on the stock. in a research report on Thursday, April 11th. Finally, TheStreet upgraded Exelixis from a “c+” rating to a “b-” rating in a research report on Monday, March 18th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.13.

About Exelixis

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers 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 progressive and metastatic medullary thyroid cancer.