Phocas Financial Corp. Has $552,000 Stock Position in Exelixis, Inc. (NASDAQ:EXEL)

Phocas Financial Corp. lessened its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 88.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 16,574 shares of the biotechnology company’s stock after selling 128,208 shares during the quarter. Phocas Financial Corp.’s holdings in Exelixis were worth $552,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB raised its position in shares of Exelixis by 18.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,890 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 290 shares during the period. Covestor Ltd lifted its stake in Exelixis by 5.7% in the third quarter. Covestor Ltd now owns 6,335 shares of the biotechnology company’s stock valued at $164,000 after buying an additional 341 shares in the last quarter. Principal Securities Inc. boosted its holdings in shares of Exelixis by 62.8% in the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 373 shares during the period. V Square Quantitative Management LLC increased its position in shares of Exelixis by 37.3% during the fourth quarter. V Square Quantitative Management LLC now owns 1,563 shares of the biotechnology company’s stock worth $52,000 after acquiring an additional 425 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in Exelixis by 16.1% in the 4th quarter. Fifth Third Bancorp now owns 3,231 shares of the biotechnology company’s stock valued at $108,000 after acquiring an additional 449 shares in the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Stock Down 0.6 %

EXEL opened at $36.92 on Wednesday. Exelixis, Inc. has a 12-month low of $20.14 and a 12-month high of $37.59. The business has a 50 day moving average of $34.26 and a 200-day moving average of $31.46. The stock has a market cap of $10.33 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 1.13 and a beta of 0.53.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. As a group, analysts expect that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Insider Activity

In other Exelixis news, EVP Jeffrey Hessekiel sold 60,000 shares of the company’s stock in a transaction 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 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Mary C. Beckerle sold 12,210 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $34.88, for a total value of $425,884.80. Following the transaction, the director now owns 30,406 shares in the company, valued at $1,060,561.28. The trade was a 28.65 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.85% of the company’s stock.

Analysts Set New Price Targets

EXEL has been the topic of several recent research reports. Morgan Stanley raised Exelixis from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $30.00 to $40.00 in a research note on Monday, January 27th. Stifel Nicolaus boosted their target price on Exelixis from $30.00 to $36.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. Wells Fargo & Company downgraded Exelixis from an “overweight” rating to an “equal weight” rating and set a $36.00 price target for the company. in a research report on Monday. Bank of America downgraded shares of Exelixis from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $35.00 to $39.00 in a report on Tuesday, December 17th. Finally, HC Wainwright restated a “buy” rating and set a $40.00 target price on shares of Exelixis in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Exelixis has a consensus rating of “Moderate Buy” and a consensus price target of $37.24.

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.