Exelixis, Inc. (NASDAQ:EXEL) Stock Holdings Lessened by HighTower Advisors LLC

HighTower Advisors LLC cut its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 3.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,728 shares of the biotechnology company’s stock after selling 2,005 shares during the quarter. HighTower Advisors LLC’s holdings in Exelixis were worth $1,684,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of EXEL. Paloma Partners Management Co acquired a new position in Exelixis in the 3rd quarter worth approximately $484,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Exelixis in the third quarter valued at $657,000. Point72 Hong Kong Ltd acquired a new stake in shares of Exelixis in the third quarter worth $958,000. Erste Asset Management GmbH purchased a new position in shares of Exelixis during the third quarter valued at $1,934,000. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new position in Exelixis during the third quarter valued at $14,979,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on EXEL shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $34.00 target price on shares of Exelixis in a research report on Wednesday, October 30th. Piper Sandler raised their price objective on Exelixis from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. TD Cowen lifted their price target on shares of Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, October 21st. JMP Securities restated a “market outperform” rating and issued a $29.00 price objective on shares of Exelixis in a research note on Friday, October 11th. Finally, Guggenheim raised their target price on shares of Exelixis from $32.00 to $33.00 and gave the company 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 issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.47.

Insider Activity

In other Exelixis news, EVP Jeffrey Hessekiel sold 25,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $26.38, for a total transaction of $659,500.00. Following the completion of the transaction, the executive vice president now owns 605,325 shares in the company, valued at $15,968,473.50. This trade represents a 3.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Dana Aftab sold 1,162 shares of the company’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 value of $36,486.80. Following the completion of the sale, the executive vice president now owns 498,945 shares in the company, valued at approximately $15,666,873. This represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 339,736 shares of company stock worth $11,508,610. Corporate insiders own 2.85% of the company’s stock.

Exelixis Stock Down 0.4 %

Exelixis stock opened at $35.03 on Monday. 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 $10.00 billion, a price-to-earnings ratio of 22.46, a price-to-earnings-growth ratio of 0.89 and a beta of 0.52. The business has a 50 day moving average price of $32.66 and a two-hundred day moving average price of $27.18.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The business had revenue of $539.50 million during the quarter, compared to analyst estimates of $490.31 million. During the same period in the prior year, the company posted $0.10 earnings per share. Exelixis’s revenue was up 14.3% on a year-over-year basis. On average, analysts expect that Exelixis, Inc. will post 1.69 earnings per share for the current fiscal year.

Exelixis 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.