Exelixis, Inc. $EXEL Shares Sold by Burney Co.

Burney Co. lowered its stake in Exelixis, Inc. (NASDAQ:EXEL) by 43.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 230,135 shares of the biotechnology company’s stock after selling 175,993 shares during the quarter. Burney Co. owned about 0.09% of Exelixis worth $9,505,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of EXEL. Belpointe Asset Management LLC purchased a new position in shares of Exelixis in the first quarter valued at $572,000. Fox Run Management L.L.C. acquired a new position in Exelixis in the 2nd quarter worth $321,000. D.A. Davidson & CO. purchased a new position in Exelixis in the 2nd quarter valued at about $212,000. Capital Fund Management S.A. grew its stake in shares of Exelixis by 6.6% during the second quarter. Capital Fund Management S.A. now owns 283,639 shares of the biotechnology company’s stock valued at $12,501,000 after acquiring an additional 17,673 shares in the last quarter. Finally, Fortis Capital Advisors LLC acquired a new stake in shares of Exelixis during the first quarter valued at about $572,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on EXEL shares. Leerink Partnrs raised Exelixis from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. TD Cowen increased their target price on Exelixis from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Wells Fargo & Company decreased their price target on shares of Exelixis from $36.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 21st. Leerink Partners raised shares of Exelixis from a “market perform” rating to an “outperform” rating and set a $48.00 price target on the stock in a report on Tuesday, October 21st. Finally, Wall Street Zen upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 14th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, Exelixis has an average rating of “Moderate Buy” and a consensus price target of $45.74.

Insider Buying and Selling

In other news, EVP Dana Aftab sold 48,383 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $42.50, for a total transaction of $2,056,277.50. Following the completion of the transaction, the executive vice president directly owned 664,778 shares of the company’s stock, valued at approximately $28,253,065. This represents a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Patrick J. Haley sold 34,187 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $41.88, for a total value of $1,431,751.56. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 245,235 shares of company stock valued at $10,490,600. 2.82% of the stock is currently owned by insiders.

Exelixis Price Performance

EXEL stock opened at $46.24 on Friday. The firm has a market cap of $12.40 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 0.84 and a beta of 0.40. Exelixis, Inc. has a 1-year low of $31.90 and a 1-year high of $49.62. The firm has a fifty day moving average price of $41.82 and a two-hundred day moving average price of $40.95.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.68 by $0.10. Exelixis had a net margin of 29.63% and a return on equity of 31.06%. The business had revenue of $597.76 million during the quarter, compared to analyst estimates of $590.04 million. During the same period in the previous year, the business posted $0.47 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, analysts expect that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

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.