Wellington Management Group LLP Lowers Stock Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Wellington Management Group LLP lowered its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 33.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 245,342 shares of the biotechnology company’s stock after selling 124,537 shares during the period. Wellington Management Group LLP’s holdings in Exelixis were worth $6,367,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. LSV Asset Management boosted its holdings in Exelixis by 107.7% in the 2nd quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock valued at $129,511,000 after purchasing an additional 2,989,021 shares during the period. Los Angeles Capital Management LLC boosted its stake in Exelixis by 124.0% during the third quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock valued at $46,473,000 after buying an additional 991,494 shares during the period. Caisse DE Depot ET Placement DU Quebec purchased a new position in Exelixis during the third quarter worth about $14,979,000. Farallon Capital Management LLC grew its position in Exelixis by 1.6% during the second quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock worth $608,993,000 after buying an additional 424,000 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Exelixis by 12.7% in the 2nd quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock worth $73,425,000 after acquiring an additional 370,199 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Exelixis Trading Up 3.0 %

Exelixis stock opened at $36.07 on Tuesday. The firm has a market cap of $10.30 billion, a P/E ratio of 23.12, a P/E/G ratio of 0.89 and a beta of 0.52. Exelixis, Inc. has a 1-year low of $19.20 and a 1-year high of $36.97. The firm has a 50-day moving average of $32.85 and a 200-day moving average of $27.29.

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on EXEL. Bank of America boosted their price objective on Exelixis from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. TD Cowen increased their price target on shares of Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Wells Fargo & Company lifted their price objective on shares of Exelixis from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $34.00 target price on shares of Exelixis in a research note on Wednesday, October 30th. Finally, Guggenheim lifted their price target on Exelixis from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.47.

Insider Buying and Selling at Exelixis

In other Exelixis news, Director George Poste sold 30,000 shares of Exelixis stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $34.00, for a total transaction of $1,020,000.00. Following the sale, the director now directly owns 169,020 shares of the company’s stock, valued at approximately $5,746,680. The trade was a 15.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the transaction, the executive vice president now directly owns 486,059 shares of the company’s stock, valued at $17,823,783.53. This represents a 10.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 339,736 shares of company stock valued at $11,508,610. 2.85% of the stock is currently owned by company insiders.

About Exelixis

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.