Exelixis, Inc. (NASDAQ:EXEL) Stock Position Cut by BlackRock Inc.

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BlackRock Inc. lessened its stake in Exelixis, Inc. (NASDAQ:EXEL) by 0.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,683,870 shares of the biotechnology company’s stock after selling 191,763 shares during the period. BlackRock Inc. owned 10.13% of Exelixis worth $655,713,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Fulton Breakefield Broenniman LLC grew its position in Exelixis by 3.8% in the 2nd quarter. Fulton Breakefield Broenniman LLC now owns 15,399 shares of the biotechnology company’s stock valued at $329,000 after buying an additional 560 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its position in Exelixis by 1.1% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 55,490 shares of the biotechnology company’s stock valued at $1,186,000 after buying an additional 600 shares in the last quarter. First Mercantile Trust Co. lifted its holdings in Exelixis by 10.9% in the 2nd quarter. First Mercantile Trust Co. now owns 6,386 shares of the biotechnology company’s stock valued at $136,000 after acquiring an additional 627 shares during the last quarter. Cornerstone Advisors Inc. lifted its holdings in Exelixis by 28.4% in the 2nd quarter. Cornerstone Advisors Inc. now owns 3,099 shares of the biotechnology company’s stock valued at $66,000 after acquiring an additional 686 shares during the last quarter. Finally, Point72 Hong Kong Ltd lifted its holdings in Exelixis by 75.0% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,411 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 1,033 shares during the last quarter. Hedge funds and other institutional investors own 77.38% of the company’s stock.

In other Exelixis news, CMO Gisela Schwab sold 50,000 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $15.99, for a total transaction of $799,500.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Morrissey sold 35,040 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $20.11, for a total value of $704,654.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 280,934 shares of company stock worth $5,359,761. Corporate insiders own 4.50% of the company’s stock.

Shares of NASDAQ EXEL opened at $15.77 on Friday. The firm has a 50-day moving average of $17.11 and a two-hundred day moving average of $19.55. Exelixis, Inc. has a twelve month low of $15.02 and a twelve month high of $25.31. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of 11.03 and a beta of 1.76. The company has a current ratio of 6.89, a quick ratio of 6.80 and a debt-to-equity ratio of 0.01.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.19 by $0.12. Exelixis had a return on equity of 25.55% and a net margin of 64.05%. The company had revenue of $271.70 million for the quarter, compared to the consensus estimate of $228.17 million. During the same quarter last year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was up 20.5% compared to the same quarter last year. As a group, research analysts predict that Exelixis, Inc. will post 0.98 earnings per share for the current year.

A number of equities research analysts have weighed in on the stock. Piper Jaffray Companies cut their price target on shares of Exelixis from $45.00 to $35.00 in a report on Thursday, October 31st. ValuEngine raised shares of Exelixis from a “strong sell” rating to a “sell” rating in a report on Monday, November 4th. BMO Capital Markets cut their price target on shares of Exelixis from $23.00 to $19.00 and set a “market perform” rating for the company in a report on Tuesday, October 8th. Stifel Nicolaus upped their price target on shares of Exelixis from $22.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, Guggenheim cut their price target on shares of Exelixis from $33.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $25.50.

Exelixis Company Profile

Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. The company's products include 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 patients with progressive and metastatic medullary thyroid cancer.

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Institutional Ownership by Quarter for Exelixis (NASDAQ:EXEL)

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