Exelixis, Inc. $EXEL Position Reduced by Private Client Services LLC

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

A number of other large investors have also made changes to their positions in EXEL. Versant Capital Management Inc lifted its position in shares of Exelixis by 31.8% in the 2nd quarter. Versant Capital Management Inc now owns 2,288 shares of the biotechnology company’s stock valued at $124,000 after acquiring an additional 552 shares in the last quarter. Pacer Advisors Inc. grew its position in Exelixis by 24.9% during the 1st quarter. Pacer Advisors Inc. now owns 1,549,611 shares of the biotechnology company’s stock worth $66,463,000 after purchasing an additional 308,633 shares in the last quarter. Parallel Advisors LLC raised its stake in Exelixis by 5.7% during the 1st quarter. Parallel Advisors LLC now owns 9,115 shares of the biotechnology company’s stock valued at $391,000 after purchasing an additional 495 shares during the period. Ramiah Investment Group acquired a new stake in Exelixis during the 1st quarter valued at $225,000. Finally, Glenmede Trust Co. NA lifted its holdings in shares of Exelixis by 10.1% in the first quarter. Glenmede Trust Co. NA now owns 8,217 shares of the biotechnology company’s stock valued at $352,000 after purchasing an additional 757 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Royal Bank Of Canada raised their target price on Exelixis from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 7th. Citizens Jmp upped their price target on Exelixis from $50.00 to $55.00 and gave the company a “market outperform” rating in a research report on Wednesday, June 24th. Weiss Ratings downgraded Exelixis from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, July 24th. Wells Fargo & Company raised their price objective on Exelixis from $40.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Monday, July 13th. Finally, Barclays lifted their target price on Exelixis from $45.00 to $49.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 14th. Eight investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $49.50.

Exelixis Stock Up 3.8%

Shares of NASDAQ:EXEL opened at $55.06 on Tuesday. The firm has a fifty day moving average of $53.83 and a two-hundred day moving average of $47.68. The firm has a market capitalization of $13.84 billion, a P/E ratio of 18.29, a price-to-earnings-growth ratio of 1.53 and a beta of 0.44. Exelixis, Inc. has a 12-month low of $33.76 and a 12-month high of $57.57.

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

Insider Activity

In other Exelixis news, Director Jack L. Wyszomierski sold 3,925 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $50.55, for a total value of $198,408.75. Following the transaction, the director directly owned 284,384 shares of the company’s stock, valued at $14,375,611.20. This represents a 1.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sue Gail Eckhardt sold 9,812 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $50.14, for a total value of $491,973.68. Following the sale, the director directly owned 16,079 shares of the company’s stock, valued at $806,201.06. This trade represents a 37.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 219,170 shares of company stock valued at $10,620,641. 2.60% of the stock is currently owned by company insiders.

About Exelixis

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.