CoreCap Advisors LLC Has $137,000 Stock Holdings in Exelixis, Inc. $EXEL

CoreCap Advisors LLC reduced its stake in Exelixis, Inc. (NASDAQ:EXEL) by 77.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,321 shares of the biotechnology company’s stock after selling 11,723 shares during the period. CoreCap Advisors LLC’s holdings in Exelixis were worth $137,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of EXEL. Truist Financial Corp boosted its holdings in shares of Exelixis by 1.1% during the 2nd quarter. Truist Financial Corp now owns 22,292 shares of the biotechnology company’s stock worth $983,000 after buying an additional 250 shares during the period. Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Exelixis by 0.3% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 102,581 shares of the biotechnology company’s stock worth $4,521,000 after acquiring an additional 274 shares during the period. Plato Investment Management Ltd boosted its holdings in shares of Exelixis by 6.5% during the second quarter. Plato Investment Management Ltd now owns 6,174 shares of the biotechnology company’s stock worth $271,000 after acquiring an additional 377 shares during the period. Stratos Wealth Partners LTD. grew its position in shares of Exelixis by 6.3% in the second quarter. Stratos Wealth Partners LTD. now owns 6,726 shares of the biotechnology company’s stock valued at $296,000 after purchasing an additional 399 shares during the last quarter. Finally, Byrne Asset Management LLC increased its stake in shares of Exelixis by 129.0% during the second quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analysts Set New Price Targets

EXEL has been the topic of a number of research reports. Wall Street Zen raised Exelixis from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 14th. Morgan Stanley reissued an “equal weight” rating and issued a $48.00 target price (up previously from $45.00) on shares of Exelixis in a research report on Thursday, January 8th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $45.00 price target on shares of Exelixis in a research report on Tuesday, October 21st. Guggenheim cut shares of Exelixis from a “buy” rating to a “neutral” rating in a research note on Monday, November 3rd. Finally, Oppenheimer restated a “market perform” rating and set a $36.00 target price on shares of Exelixis in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Exelixis has a consensus rating of “Hold” and a consensus target price of $45.84.

Exelixis Trading Up 0.0%

Shares of Exelixis stock opened at $44.08 on Wednesday. The company has a market cap of $11.82 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 0.81 and a beta of 0.40. The company has a 50 day moving average of $43.28 and a 200-day moving average of $41.08. Exelixis, Inc. has a 1-year low of $31.90 and a 1-year high of $49.62.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $590.04 million. During the same period last year, the firm posted $0.47 earnings per share. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. Research analysts forecast that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Dana Aftab sold 48,383 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $42.50, for a total value of $2,056,277.50. Following the sale, the executive vice president directly owned 664,778 shares in the company, valued at approximately $28,253,065. This trade represents a 6.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stelios Papadopoulos sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $43.55, for a total transaction of $4,355,000.00. Following the transaction, the director owned 1,189,228 shares of the company’s stock, valued at approximately $51,790,879.40. This represents a 7.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 245,235 shares of company stock valued at $10,490,600 in the last quarter. Corporate insiders own 2.85% of the company’s stock.

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.