Exelixis, Inc. (NASDAQ:EXEL) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lowered its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 3.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,728 shares of the biotechnology company’s stock after selling 2,005 shares during the period. HighTower Advisors LLC’s holdings in Exelixis were worth $1,684,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new position in Exelixis during the third quarter worth approximately $30,000. Brooklyn Investment Group purchased a new position in shares of Exelixis in the 3rd quarter worth $42,000. Capital Performance Advisors LLP purchased a new position in shares of Exelixis in the 3rd quarter worth $61,000. Essex Investment Management Co. LLC acquired a new position in Exelixis in the third quarter valued at $74,000. Finally, GAMMA Investing LLC increased its stake in Exelixis by 50.0% during the third quarter. GAMMA Investing LLC now owns 3,010 shares of the biotechnology company’s stock worth $78,000 after acquiring an additional 1,004 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Exelixis Trading Down 0.4 %

Shares of NASDAQ EXEL opened at $35.03 on Monday. Exelixis, Inc. has a 12-month low of $19.20 and a 12-month high of $36.97. The company has a market cap of $10.00 billion, a price-to-earnings ratio of 22.46, a price-to-earnings-growth ratio of 0.89 and a beta of 0.52. The stock’s 50 day simple moving average is $32.66 and its 200 day simple moving average is $27.18.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. The business had revenue of $539.50 million during the quarter, compared to analyst estimates of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The company’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 earnings per share. As a group, equities analysts forecast that Exelixis, Inc. will post 1.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director George Poste sold 30,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $34.00, for a total value of $1,020,000.00. Following the completion of the transaction, the director now directly owns 169,020 shares in the company, valued at $5,746,680. This trade represents a 15.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the sale, the executive vice president now directly owns 486,059 shares in the company, valued at approximately $17,823,783.53. The trade was a 10.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 339,736 shares of company stock valued at $11,508,610 in the last three months. 2.85% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on EXEL. TD Cowen increased their target price on shares of Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. The Goldman Sachs Group upgraded shares of Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. Piper Sandler increased their price target on Exelixis from $33.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Stifel Nicolaus boosted their price objective on Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $34.00 target price on shares of Exelixis in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.47.

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.