UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stock Position in Exelixis, Inc. $EXEL

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 7.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,201,307 shares of the biotechnology company’s stock after selling 90,710 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.48% of Exelixis worth $65,363,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Arkadios Wealth Advisors purchased a new stake in Exelixis during the 1st quarter worth approximately $476,000. Corient Private Wealth LP acquired a new stake in shares of Exelixis during the second quarter worth approximately $4,324,000. L2 Asset Management LLC bought a new stake in shares of Exelixis in the second quarter worth $6,839,000. Stephens Investment Management Group LLC raised its holdings in Exelixis by 1.1% in the fourth quarter. Stephens Investment Management Group LLC now owns 2,539,421 shares of the biotechnology company’s stock valued at $111,303,000 after acquiring an additional 28,265 shares in the last quarter. Finally, JLB & Associates Inc. bought a new position in Exelixis during the 2nd quarter valued at $2,658,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on EXEL. Wall Street Zen downgraded shares of Exelixis from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. TD Cowen upped their price objective on Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. BMO Capital Markets started coverage on Exelixis in a report on Tuesday, August 18th. They set a “market perform” rating and a $54.00 target price on the stock. Leerink Partners downgraded Exelixis from an “outperform” rating to a “market perform” rating and set a $52.00 price target for the company. in a report on Thursday, August 6th. Finally, Barclays raised their price objective on Exelixis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $50.07.

Exelixis Trading Up 2.9%

NASDAQ:EXEL opened at $58.53 on Thursday. The stock has a 50 day moving average of $54.86 and a 200-day moving average of $49.33. The firm has a market capitalization of $14.50 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 1.69 and a beta of 0.42. Exelixis, Inc. has a 52 week low of $33.76 and a 52 week high of $59.11.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. The business had revenue of $628.69 million for the quarter, compared to the consensus estimate of $636.40 million. Exelixis had a return on equity of 42.17% and a net margin of 35.33%.The business’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the business posted $0.75 EPS. As a group, analysts predict that Exelixis, Inc. will post 3.19 EPS for the current fiscal year.

Insider Activity

In other news, Director Mary C. Beckerle sold 9,812 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $53.66, for a total transaction of $526,511.92. Following the completion of the transaction, the director owned 16,079 shares in the company, valued at approximately $862,799.14. This represents a 37.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.60% of the company’s stock.

Exelixis 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.