The Manufacturers Life Insurance Company Sells 10,407 Shares of Exelixis, Inc. $EXEL

The Manufacturers Life Insurance Company reduced its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 5.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 184,117 shares of the biotechnology company’s stock after selling 10,407 shares during the period. The Manufacturers Life Insurance Company owned about 0.07% of Exelixis worth $7,897,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of EXEL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Exelixis by 81.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,181 shares of the biotechnology company’s stock valued at $1,592,000 after purchasing an additional 19,407 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Exelixis by 4.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company’s stock worth $54,153,000 after buying an additional 68,133 shares during the last quarter. Focus Partners Wealth increased its position in Exelixis by 83.4% in the first quarter. Focus Partners Wealth now owns 38,458 shares of the biotechnology company’s stock worth $1,420,000 after buying an additional 17,483 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Exelixis by 134.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company’s stock valued at $61,000 after buying an additional 944 shares during the period. Finally, Sivia Capital Partners LLC raised its stake in shares of Exelixis by 23.8% in the second quarter. Sivia Capital Partners LLC now owns 14,362 shares of the biotechnology company’s stock valued at $633,000 after buying an additional 2,764 shares during the period. 85.27% of the stock is owned by institutional investors.

Insider Buying and Selling at Exelixis

In other news, CFO Christopher J. Senner sold 34,901 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $50.00, for a total value of $1,745,050.00. Following the sale, the chief financial officer directly owned 952,317 shares of the company’s stock, valued at approximately $47,615,850. This represents a 3.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Dana Aftab sold 43,451 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $50.35, for a total transaction of $2,187,757.85. Following the completion of the transaction, the executive vice president owned 594,741 shares of the company’s stock, valued at $29,945,209.35. This trade represents a 6.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 219,170 shares of company stock worth $10,620,641 in the last three months. 2.60% of the stock is currently owned by corporate insiders.

Exelixis Price Performance

NASDAQ:EXEL opened at $56.00 on Wednesday. Exelixis, Inc. has a 1 year low of $33.76 and a 1 year high of $57.57. The stock’s fifty day moving average price is $53.95 and its two-hundred day moving average price is $47.76. The company has a market cap of $14.08 billion, a P/E ratio of 18.60, a P/E/G ratio of 1.59 and a beta of 0.44.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.12. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The company had revenue of $610.81 million during the quarter, compared to analysts’ expectations of $607.51 million. During the same period in the previous year, the business earned $0.55 earnings per share. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, analysts expect that Exelixis, Inc. will post 3.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Royal Bank Of Canada increased their price target on Exelixis from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 7th. Citigroup restated a “market outperform” rating on shares of Exelixis in a research note on Wednesday, July 22nd. Stifel Nicolaus upped their price objective on shares of Exelixis from $44.00 to $47.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. UBS Group set a $55.00 target price on shares of Exelixis in a research report on Monday. Finally, Morgan Stanley lifted their target price on shares of Exelixis from $50.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. Eight analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $49.50.

Exelixis Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.