Exelixis, Inc. (EXEL) Position Cut by Ballentine Partners LLC
Ballentine Partners LLC lessened its stake in Exelixis, Inc. (NASDAQ:EXEL) by 34.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,499 shares of the biotechnology company’s stock after selling 5,633 shares during the period. Ballentine Partners LLC’s holdings in Exelixis were worth $254,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. First Quadrant L P CA bought a new position in Exelixis in the 2nd quarter valued at about $144,000. Fisher Asset Management LLC bought a new position in Exelixis in the 3rd quarter valued at about $213,000. Wetherby Asset Management Inc. bought a new position in Exelixis in the 2nd quarter valued at about $218,000. Caxton Associates LP acquired a new stake in Exelixis in the 2nd quarter valued at about $227,000. Finally, Private Advisor Group LLC acquired a new stake in Exelixis in the 2nd quarter valued at about $247,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.
Exelixis, Inc. (NASDAQ EXEL) traded up $0.19 during mid-day trading on Monday, reaching $26.04. 429,444 shares of the company’s stock were exchanged, compared to its average volume of 4,257,384. Exelixis, Inc. has a 52 week low of $14.22 and a 52 week high of $32.50. The stock has a market capitalization of $7,647.81, a price-to-earnings ratio of 50.69, a PEG ratio of 1.25 and a beta of 1.89.
Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Wednesday, November 1st. The biotechnology company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.18. Exelixis had a net margin of 36.80% and a return on equity of 105.47%. The company had revenue of $152.50 million during the quarter, compared to analyst estimates of $104.91 million. During the same period in the prior year, the firm earned ($0.04) earnings per share. The business’s quarterly revenue was up 145.2% on a year-over-year basis. analysts anticipate that Exelixis, Inc. will post 0.45 earnings per share for the current fiscal year.
In other news, insider Michael Morrissey sold 300,000 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $26.90, for a total value of $8,070,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stelios Papadopoulos sold 72,210 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $27.76, for a total transaction of $2,004,549.60. The disclosure for this sale can be found here. Insiders have sold 970,152 shares of company stock valued at $25,923,457 over the last ninety days. Insiders own 5.10% of the company’s stock.
A number of equities research analysts have weighed in on the stock. TheStreet raised shares of Exelixis from a “c” rating to a “b-” rating in a report on Monday, August 7th. William Blair reissued an “outperform” rating on shares of Exelixis in a report on Thursday, July 27th. Cowen and Company reissued an “outperform” rating on shares of Exelixis in a report on Thursday, August 10th. Needham & Company LLC upped their price target on shares of Exelixis from $30.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, October 17th. Finally, BidaskClub downgraded shares of Exelixis from a “strong-buy” rating to a “buy” rating in a report on Monday, August 14th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $31.38.
Exelixis Company Profile
Exelixis, Inc is a biopharmaceutical company. The Company is focused on discovery, development and commercialization of new medicines to manage care and outcomes for people with cancer. The Company’s cabozantinib product is an inhibitor of multiple tyrosine kinases, including MET, AXL, and VEGF receptors.
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