Exelixis, Inc. (NASDAQ:EXEL) Shares Sold by Phocas Financial Corp.

Phocas Financial Corp. cut its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 88.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,574 shares of the biotechnology company’s stock after selling 128,208 shares during the quarter. Phocas Financial Corp.’s holdings in Exelixis were worth $552,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. USA Financial Formulas acquired a new position in shares of Exelixis during the fourth quarter valued at $32,000. Principal Securities Inc. boosted its stake in Exelixis by 62.8% during the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 373 shares during the period. Kestra Investment Management LLC bought a new position in Exelixis in the 4th quarter worth about $39,000. Brooklyn Investment Group bought a new stake in shares of Exelixis during the third quarter valued at approximately $42,000. Finally, UMB Bank n.a. boosted its position in shares of Exelixis by 68.4% during the fourth quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock worth $45,000 after buying an additional 553 shares during the period. Institutional investors own 85.27% of the company’s stock.

Exelixis Stock Performance

NASDAQ EXEL opened at $36.92 on Wednesday. Exelixis, Inc. has a 52 week low of $20.14 and a 52 week high of $37.59. The stock has a market capitalization of $10.33 billion, a P/E ratio of 20.86, a price-to-earnings-growth ratio of 1.13 and a beta of 0.53. The stock has a fifty day moving average of $34.26 and a 200-day moving average of $31.46.

Exelixis (NASDAQ:EXEL) last announced 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%. Equities research analysts forecast that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on EXEL shares. Barclays lifted their target price on Exelixis from $25.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, February 13th. Truist Financial increased their target price on shares of Exelixis from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Brookline Capital Management started coverage on shares of Exelixis in a research note on Monday, December 23rd. They issued a “buy” rating for the company. Bank of America cut Exelixis from a “buy” rating to a “neutral” rating and raised their target price for the company from $35.00 to $39.00 in a research note on Tuesday, December 17th. Finally, Citigroup boosted their target price on shares of Exelixis from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.24.

Insider Buying and Selling

In related news, EVP Jeffrey Hessekiel sold 60,000 shares of Exelixis stock in a transaction on Friday, November 29th. The stock was sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the completion of the sale, the executive vice president now directly owns 486,059 shares of the company’s stock, valued at $17,823,783.53. The trade was a 10.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary C. Beckerle sold 12,210 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $34.88, for a total value of $425,884.80. Following the completion of the transaction, the director now directly owns 30,406 shares in the company, valued at $1,060,561.28. The trade was a 28.65 % decrease in their position. The disclosure for this sale can be found here. 2.85% of the stock is currently 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.