Edgestream Partners L.P. Sells 41,577 Shares of Exelixis, Inc. (NASDAQ:EXEL)

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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EXEL. Hsbc Holdings PLC raised its stake in shares of Exelixis by 45.3% during the 2nd quarter. Hsbc Holdings PLC now owns 90,211 shares of the biotechnology company’s stock valued at $2,031,000 after purchasing an additional 28,126 shares during the period. Farallon Capital Management LLC raised its stake in shares of Exelixis by 1.6% during the second quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock worth $608,993,000 after acquiring an additional 424,000 shares in the last quarter. Seizert Capital Partners LLC lifted its stake in Exelixis by 8.0% in the third quarter. Seizert Capital Partners LLC now owns 469,940 shares of the biotechnology company’s stock worth $12,195,000 after purchasing an additional 34,875 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in Exelixis by 124.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock valued at $46,473,000 after acquiring an additional 991,494 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of Exelixis by 60.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 54,863 shares of the biotechnology company’s stock worth $1,424,000 after purchasing an additional 20,641 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Price Performance

Shares of EXEL stock opened at $35.26 on Wednesday. Exelixis, Inc. has a 1-year low of $19.20 and a 1-year high of $36.97. The company has a 50-day moving average of $31.00 and a two-hundred day moving average of $26.25. The firm has a market cap 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 (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. The business had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period last year, the firm earned $0.10 earnings per share. Sell-side analysts anticipate that Exelixis, Inc. will post 1.69 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on EXEL. Bank of America lifted their price target on shares of Exelixis from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. The Goldman Sachs Group raised Exelixis to a “strong sell” rating in a research note on Tuesday, October 15th. JMP Securities restated a “market outperform” rating and issued a $29.00 price objective on shares of Exelixis in a report on Friday, October 11th. HC Wainwright reiterated a “buy” rating and issued a $29.00 price target on shares of Exelixis in a research note on Wednesday, September 18th. Finally, Guggenheim lifted 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Exelixis has an average rating of “Moderate Buy” and a consensus target price of $31.44.

Insider Buying and Selling at Exelixis

In other news, EVP Jeffrey Hessekiel sold 25,000 shares of Exelixis stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $28.39, for a total transaction of $709,750.00. Following the completion of the sale, the executive vice president now directly owns 580,325 shares in the company, valued at approximately $16,475,426.75. This trade represents a 4.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dana Aftab sold 1,162 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total transaction of $36,486.80. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 339,736 shares of company stock worth $11,508,610. 2.85% of the stock is owned by insiders.

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.