Barclays PLC Trims Stake in Exelixis, Inc. (NASDAQ:EXEL)

Barclays PLC reduced its position in Exelixis, Inc. (NASDAQ:EXEL) by 24.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 319,589 shares of the biotechnology company’s stock after selling 102,720 shares during the quarter. Barclays PLC’s holdings in Exelixis were worth $8,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in EXEL. SG Americas Securities LLC acquired a new position in shares of Exelixis in the second quarter worth about $489,000. Blue Trust Inc. boosted its position in Exelixis by 81.4% during the second quarter. Blue Trust Inc. now owns 3,953 shares of the biotechnology company’s stock worth $94,000 after purchasing an additional 1,774 shares in the last quarter. Raymond James & Associates grew its holdings in Exelixis by 1.2% in the second quarter. Raymond James & Associates now owns 109,856 shares of the biotechnology company’s stock valued at $2,468,000 after purchasing an additional 1,328 shares during the period. Fifth Third Wealth Advisors LLC purchased a new stake in shares of Exelixis in the second quarter valued at approximately $216,000. Finally, Retirement Systems of Alabama raised its stake in shares of Exelixis by 92.1% during the 2nd quarter. Retirement Systems of Alabama now owns 731,476 shares of the biotechnology company’s stock worth $16,436,000 after buying an additional 350,740 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Trading Down 3.8 %

Exelixis stock opened at $34.69 on Wednesday. The company has a 50-day moving average price of $33.04 and a 200 day moving average price of $27.38. Exelixis, Inc. has a 12-month low of $19.20 and a 12-month high of $36.97. The stock has a market cap of $9.91 billion, a P/E ratio of 22.24, a PEG ratio of 0.89 and a beta of 0.52.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The business’s revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 EPS. As a group, analysts forecast that Exelixis, Inc. will post 1.69 EPS for the current year.

Insiders Place Their Bets

In other Exelixis news, EVP Jeffrey Hessekiel sold 60,000 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now 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 filing with the SEC, which is available through the SEC website. Also, EVP Dana Aftab sold 1,162 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total transaction of $36,486.80. Following the completion of the sale, the executive vice president now directly owns 498,945 shares in the company, valued at $15,666,873. This trade represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 339,736 shares of company stock valued at $11,508,610 over the last quarter. 2.85% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. JMP Securities reiterated a “market outperform” rating and issued a $29.00 target price on shares of Exelixis in a research report on Friday, October 11th. Royal Bank of Canada restated an “outperform” rating and set a $34.00 price target on shares of Exelixis in a research report on Wednesday, October 30th. Piper Sandler lifted their price objective on Exelixis from $33.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Truist Financial increased their target price on Exelixis from $33.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Exelixis currently has an average rating of “Moderate Buy” and a consensus price target of $31.88.

Exelixis Company 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.