Northern Trust Corp trimmed its position in Exelixis, Inc. (NASDAQ:EXEL) by 56.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,268,584 shares of the biotechnology company’s stock after selling 1,626,786 shares during the quarter. Northern Trust Corp owned 0.43% of Exelixis worth $31,245,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Great West Life Assurance Co. Can increased its position in Exelixis by 26.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 28,342 shares of the biotechnology company’s stock valued at $613,000 after purchasing an additional 6,000 shares during the period. Ameriprise Financial Inc. increased its position in Exelixis by 4.8% during the 1st quarter. Ameriprise Financial Inc. now owns 396,970 shares of the biotechnology company’s stock valued at $8,601,000 after purchasing an additional 18,192 shares during the period. Victory Capital Management Inc. purchased a new position in Exelixis during the 1st quarter valued at $1,156,000. Teachers Advisors LLC increased its position in Exelixis by 1.7% during the 1st quarter. Teachers Advisors LLC now owns 990,514 shares of the biotechnology company’s stock valued at $21,464,000 after purchasing an additional 16,690 shares during the period. Finally, Legal & General Group Plc increased its position in Exelixis by 1.3% during the 1st quarter. Legal & General Group Plc now owns 84,763 shares of the biotechnology company’s stock valued at $1,834,000 after purchasing an additional 1,078 shares during the period. 78.40% of the stock is currently owned by institutional investors.
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A number of brokerages have recently commented on EXEL. Zacks Investment Research upgraded shares of Exelixis from a “hold” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a report on Tuesday, July 4th. BidaskClub upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Friday, August 25th. Deutsche Bank AG cut shares of Exelixis from a “buy” rating to a “hold” rating and boosted their target price for the company from $26.00 to $29.00 in a report on Thursday, August 3rd. Stifel Nicolaus reiterated a “hold” rating and issued a $26.00 price target on shares of Exelixis in a research note on Thursday, September 7th. Finally, SunTrust Banks, Inc. began coverage on shares of Exelixis in a research note on Thursday, July 13th. They issued a “buy” rating and a $33.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Exelixis has an average rating of “Buy” and an average price target of $31.38.
Shares of Exelixis, Inc. (EXEL) opened at 25.92 on Friday. The stock’s 50 day moving average is $26.15 and its 200 day moving average is $24.29. Exelixis, Inc. has a 52-week low of $10.04 and a 52-week high of $32.50. The stock has a market cap of $7.62 billion, a price-to-earnings ratio of 130.91 and a beta of 1.91.
Exelixis (NASDAQ:EXEL) last released its earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.02. Exelixis had a return on equity of 80.43% and a net margin of 18.20%. The firm had revenue of $99.01 million during the quarter, compared to the consensus estimate of $85.27 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. The company’s revenue was up 173.1% compared to the same quarter last year. On average, equities analysts predict that Exelixis, Inc. will post $0.28 EPS for the current fiscal year.
In related news, insider Gisela Schwab sold 100,000 shares of Exelixis stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $23.79, for a total transaction of $2,379,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey Hessekiel sold 27,302 shares of Exelixis stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $24.28, for a total value of $662,892.56. The disclosure for this sale can be found here. Insiders have sold 970,152 shares of company stock valued at $25,923,457 in the last ninety days. Corporate insiders own 5.10% of the company’s stock.
Exelixis, Inc is a biopharmaceutical company. The Company is focused on discovery, development and commercialization of new medicines to manage care and outcomes for people with cancer. The Company’s cabozantinib product is an inhibitor of multiple tyrosine kinases, including MET, AXL, and VEGF receptors.
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