Exelixis, Inc. (NASDAQ:EXEL) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. cut its stake in Exelixis, Inc. (NASDAQ:EXEL) by 36.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 73,208 shares of the biotechnology company’s stock after selling 41,577 shares during the quarter. Edgestream Partners L.P.’s holdings in Exelixis were worth $1,900,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. V Square Quantitative Management LLC bought a new position in Exelixis during the 3rd quarter valued at $30,000. Brooklyn Investment Group acquired a new stake in shares of Exelixis in the third quarter valued at approximately $42,000. GAMMA Investing LLC raised its stake in Exelixis by 107.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 1,041 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Exelixis during the third quarter valued at about $61,000. Finally, Essex Investment Management Co. LLC bought a new stake in Exelixis during the third quarter worth approximately $74,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. BMO Capital Markets raised their target price on shares of Exelixis from $29.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. HC Wainwright restated a “buy” rating and set a $29.00 price target on shares of Exelixis in a report on Wednesday, September 18th. Guggenheim increased their price objective on Exelixis from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Truist Financial increased their target price on shares of Exelixis from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Stephens boosted their price objective on shares of Exelixis from $23.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.44.

Insider Transactions at Exelixis

In related news, EVP Dana Aftab sold 1,162 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total value of $36,486.80. Following the sale, the executive vice president now owns 498,945 shares in the company, valued at $15,666,873. This represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jeffrey Hessekiel sold 25,000 shares of Exelixis stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $26.38, for a total value of $659,500.00. Following the transaction, the executive vice president now owns 605,325 shares of the company’s stock, valued at $15,968,473.50. This trade represents a 3.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 339,736 shares of company stock valued at $11,508,610 in the last quarter. 2.85% of the stock is currently owned by company insiders.

Exelixis Trading Down 0.9 %

Shares of Exelixis stock opened at $35.26 on Wednesday. The firm’s 50 day moving average is $31.00 and its 200 day moving average is $26.25. The firm has a market capitalization of $10.07 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 0.90 and a beta of 0.52. Exelixis, Inc. has a 1 year low of $19.20 and a 1 year high of $36.97.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. Exelixis’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 earnings per share. As a group, research analysts anticipate that Exelixis, Inc. will post 1.69 earnings per share for the current year.

Exelixis Company Profile

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.