Ethic Inc. Reduces Position in Exelixis, Inc. $EXEL

Ethic Inc. trimmed its position in Exelixis, Inc. (NASDAQ:EXEL) by 12.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,309 shares of the biotechnology company’s stock after selling 1,285 shares during the quarter. Ethic Inc.’s holdings in Exelixis were worth $407,000 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. Truist Financial Corp increased its holdings in Exelixis by 1.1% in the second quarter. Truist Financial Corp now owns 22,292 shares of the biotechnology company’s stock valued at $983,000 after buying an additional 250 shares during the last quarter. Frank Rimerman Advisors LLC boosted its position in shares of Exelixis by 4.7% during the 1st quarter. Frank Rimerman Advisors LLC now owns 6,342 shares of the biotechnology company’s stock worth $234,000 after acquiring an additional 285 shares in the last quarter. Rathbones Group PLC increased its holdings in shares of Exelixis by 5.3% in the 1st quarter. Rathbones Group PLC now owns 6,847 shares of the biotechnology company’s stock valued at $253,000 after acquiring an additional 347 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Exelixis by 9.2% during the 1st quarter. Larson Financial Group LLC now owns 4,367 shares of the biotechnology company’s stock worth $161,000 after acquiring an additional 367 shares in the last quarter. Finally, Stratos Wealth Partners LTD. lifted its stake in Exelixis by 6.3% during the second quarter. Stratos Wealth Partners LTD. now owns 6,726 shares of the biotechnology company’s stock worth $296,000 after purchasing an additional 399 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis Stock Performance

Exelixis stock opened at $39.43 on Thursday. Exelixis, Inc. has a one year low of $31.18 and a one year high of $49.62. The company has a market cap of $10.61 billion, a P/E ratio of 18.96, a price-to-earnings-growth ratio of 0.80 and a beta of 0.38. The business has a fifty day moving average of $38.81 and a two-hundred day moving average of $40.22.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Monday, July 28th. The biotechnology company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.12. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.The company had revenue of $568.26 million for the quarter, compared to analyst estimates of $574.36 million. During the same quarter in the prior year, the company earned $0.84 earnings per share. Exelixis’s revenue was down 10.8% compared to the same quarter last year. Sell-side analysts predict that Exelixis, Inc. will post 2.04 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on EXEL shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Exelixis in a research note on Wednesday, October 8th. Truist Financial lowered their target price on shares of Exelixis from $56.00 to $49.00 and set a “buy” rating for the company in a report on Tuesday, July 29th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $45.00 price target on shares of Exelixis in a research note on Tuesday, October 21st. Citigroup reissued a “market outperform” rating on shares of Exelixis in a research report on Tuesday, October 21st. Finally, Leerink Partners raised Exelixis from a “market perform” rating to an “outperform” rating and set a $48.00 price objective on the stock in a report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $44.53.

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.