Exelixis, Inc. $EXEL Shares Sold by Private Client Services LLC

Private Client Services LLC cut its position in Exelixis, Inc. (NASDAQ:EXEL) by 40.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,330 shares of the biotechnology company’s stock after selling 19,576 shares during the quarter. Private Client Services LLC’s holdings in Exelixis were worth $1,541,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EXEL. Motiv8 Investments LLC bought a new stake in shares of Exelixis during the fourth quarter valued at approximately $26,000. Cassaday & Co Wealth Management LLC bought a new position in Exelixis in the 1st quarter worth approximately $27,000. Acumen Wealth Advisors LLC bought a new position in Exelixis in the 4th quarter worth approximately $29,000. Western Wealth Management LLC acquired a new stake in Exelixis in the 1st quarter valued at approximately $29,000. Finally, Activest Wealth Management acquired a new stake in Exelixis in the 4th quarter valued at approximately $32,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Stock Performance

Shares of EXEL stock opened at $55.06 on Tuesday. Exelixis, Inc. has a 1 year low of $33.76 and a 1 year high of $57.57. The business’s fifty day moving average is $53.83 and its 200-day moving average is $47.68. The stock has a market cap of $13.84 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 1.53 and a beta of 0.44.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.12. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The business had revenue of $610.81 million during the quarter, compared to analyst estimates of $607.51 million. During the same quarter in the prior year, the firm posted $0.55 earnings per share. The company’s revenue was up 10.0% on a year-over-year basis. Equities research analysts predict that Exelixis, Inc. will post 3.15 earnings per share for the current year.

Analysts Set New Price Targets

EXEL has been the topic of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $56.00 target price on shares of Exelixis in a research note on Thursday, July 2nd. Barclays lifted their price objective on shares of Exelixis from $45.00 to $49.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 14th. Wall Street Zen raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Royal Bank Of Canada increased their target price on shares of Exelixis from $43.00 to $46.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 7th. Finally, Weiss Ratings cut shares of Exelixis from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, July 24th. Eight equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Exelixis presently has an average rating of “Hold” and a consensus target price of $49.50.

Insider Activity at Exelixis

In related news, Director George Poste sold 60,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $45.71, for a total transaction of $2,742,600.00. Following the completion of the sale, the director directly owned 118,832 shares of the company’s stock, valued at $5,431,810.72. This represents a 33.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Patrick J. Haley sold 32,110 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $49.81, for a total transaction of $1,599,399.10. Following the sale, the executive vice president owned 357,638 shares of the company’s stock, valued at $17,813,948.78. The trade was a 8.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 219,170 shares of company stock worth $10,620,641. Company insiders own 2.60% of the company’s stock.

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.