Exelixis, Inc. (NASDAQ:EXEL) Stock Holdings Trimmed by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. reduced its stake in Exelixis, Inc. (NASDAQ:EXEL) by 65.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,225 shares of the biotechnology company’s stock after selling 49,770 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Exelixis were worth $873,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its position in shares of Exelixis by 28.6% during the fourth quarter. Farther Finance Advisors LLC now owns 5,065 shares of the biotechnology company’s stock worth $169,000 after buying an additional 1,125 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Exelixis by 40.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,269 shares of the biotechnology company’s stock valued at $109,000 after buying an additional 947 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Exelixis by 16.1% in the fourth quarter. HighTower Advisors LLC now owns 75,119 shares of the biotechnology company’s stock valued at $2,501,000 after buying an additional 10,391 shares in the last quarter. Wealthfront Advisers LLC bought a new position in shares of Exelixis in the fourth quarter valued at $2,728,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Exelixis by 5.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,447 shares of the biotechnology company’s stock valued at $2,113,000 after buying an additional 3,349 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

EXEL has been the topic of several recent analyst reports. Stifel Nicolaus boosted their target price on shares of Exelixis from $30.00 to $36.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. Wells Fargo & Company cut shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $36.00 price objective for the company. in a report on Monday, February 24th. Barclays upped their price objective on shares of Exelixis from $25.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, February 13th. Morgan Stanley upgraded shares of Exelixis from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $30.00 to $40.00 in a report on Monday, January 27th. Finally, JMP Securities restated a “market outperform” rating and set a $41.00 price target on shares of Exelixis in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.59.

Insider Activity

In other Exelixis news, Director Mary C. Beckerle sold 12,210 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $34.88, for a total value of $425,884.80. Following the transaction, the director now directly owns 30,406 shares of the company’s stock, valued at approximately $1,060,561.28. This trade represents a 28.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Patrick J. Haley sold 52,636 shares of Exelixis stock in a transaction on Monday, February 24th. The stock was sold at an average price of $36.98, for a total transaction of $1,946,479.28. Following the transaction, the executive vice president now directly owns 303,310 shares in the company, valued at approximately $11,216,403.80. This represents a 14.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 140,343 shares of company stock valued at $5,177,234 over the last three months. 2.85% of the stock is owned by insiders.

Exelixis Trading Down 0.6 %

NASDAQ EXEL opened at $36.96 on Friday. The firm has a market cap of $10.34 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 1.13 and a beta of 0.57. The company has a 50 day moving average of $35.61 and a 200-day moving average of $32.82. Exelixis, Inc. has a 1-year low of $20.14 and a 1-year high of $40.02.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. On average, analysts forecast that Exelixis, Inc. will post 2.04 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.