Exelixis, Inc. (NASDAQ:EXEL) Position Reduced by BTC Capital Management Inc.

BTC Capital Management Inc. decreased its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 6.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,601 shares of the biotechnology company’s stock after selling 821 shares during the period. BTC Capital Management Inc.’s holdings in Exelixis were worth $420,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EXEL. MassMutual Private Wealth & Trust FSB grew its position in shares of Exelixis by 18.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,890 shares of the biotechnology company’s stock valued at $63,000 after buying an additional 290 shares during the last quarter. Covestor Ltd lifted its stake in shares of Exelixis by 5.7% in the 3rd quarter. Covestor Ltd now owns 6,335 shares of the biotechnology company’s stock valued at $164,000 after purchasing an additional 341 shares during the last quarter. Fifth Third Bancorp raised its holdings in Exelixis by 16.1% during the fourth quarter. Fifth Third Bancorp now owns 3,231 shares of the biotechnology company’s stock valued at $108,000 after buying an additional 449 shares in the last quarter. Creative Planning lifted its position in shares of Exelixis by 0.8% in the second quarter. Creative Planning now owns 71,700 shares of the biotechnology company’s stock worth $1,611,000 after buying an additional 548 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Exelixis by 68.4% in the 4th quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 553 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. JMP Securities reissued a “market outperform” rating and issued a $41.00 price target on shares of Exelixis in a research report on Thursday, January 23rd. Stephens reaffirmed an “equal weight” rating and issued a $29.00 price target on shares of Exelixis in a research report on Monday, January 27th. Bank of America cut Exelixis from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $35.00 to $39.00 in a research report on Tuesday, December 17th. BMO Capital Markets lowered Exelixis from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $36.00 to $40.00 in a report on Friday, December 20th. Finally, Guggenheim reiterated a “buy” rating on shares of Exelixis in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.06.

Exelixis Price Performance

EXEL stock opened at $33.15 on Friday. The company has a 50 day moving average price of $34.68 and a 200 day moving average price of $30.08. The stock has a market capitalization of $9.47 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 0.72 and a beta of 0.53. Exelixis, Inc. has a fifty-two week low of $20.01 and a fifty-two week high of $37.59.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The company had revenue of $539.50 million for the quarter, compared to analyst estimates of $490.31 million. During the same quarter last year, the firm earned $0.10 EPS. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, equities analysts expect that Exelixis, Inc. will post 1.74 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Jeffrey Hessekiel sold 60,000 shares of Exelixis stock in a transaction on Friday, November 29th. The shares were sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the transaction, the executive vice president now directly owns 486,059 shares of the company’s stock, valued at $17,823,783.53. This trade represents a 10.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dana Aftab sold 96,986 shares of Exelixis stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $35.00, for a total value of $3,394,510.00. Following the transaction, the executive vice president now owns 498,945 shares in the company, valued at approximately $17,463,075. This represents a 16.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 208,574 shares of company stock valued at $7,376,374 in the last 90 days. 2.85% of the stock is owned by company insiders.

Exelixis Profile

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.