Swiss National Bank Sells 6,800 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Swiss National Bank reduced its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 504,900 shares of the biotechnology company’s stock after selling 6,800 shares during the quarter. Swiss National Bank owned about 0.18% of Exelixis worth $16,813,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. FMR LLC grew its stake in shares of Exelixis by 6.1% during the third quarter. FMR LLC now owns 2,462,072 shares of the biotechnology company’s stock valued at $63,891,000 after purchasing an additional 140,568 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Exelixis by 20.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 2,156,996 shares of the biotechnology company’s stock valued at $71,828,000 after purchasing an additional 366,141 shares during the last quarter. Two Sigma Advisers LP grew its stake in shares of Exelixis by 6.1% during the third quarter. Two Sigma Advisers LP now owns 1,702,590 shares of the biotechnology company’s stock valued at $44,182,000 after purchasing an additional 98,000 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Exelixis by 82.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company’s stock valued at $52,884,000 after purchasing an additional 704,786 shares during the last quarter. Finally, Systematic Financial Management LP boosted its stake in Exelixis by 7.1% in the third quarter. Systematic Financial Management LP now owns 1,168,391 shares of the biotechnology company’s stock valued at $30,320,000 after acquiring an additional 77,599 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on EXEL. Stephens reaffirmed an “equal weight” rating and issued a $29.00 price objective on shares of Exelixis 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 on the stock. in a research note on Monday, February 24th. Barclays raised their price objective on shares of Exelixis from $25.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, February 13th. Stifel Nicolaus raised their price objective 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. Finally, BMO Capital Markets cut shares of Exelixis from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $36.00 to $40.00 in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.59.

Insider Activity at Exelixis

In related news, EVP Patrick J. Haley sold 10,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $38.80, for a total value of $388,000.00. Following the completion of the transaction, the executive vice president now owns 341,028 shares of the company’s stock, valued at approximately $13,231,886.40. This trade represents a 2.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bob Oliver sold 18,647 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $37.25, for a total transaction of $694,600.75. Following the completion of the transaction, the director now directly owns 33,514 shares of the company’s stock, valued at approximately $1,248,396.50. This trade represents a 35.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 140,343 shares of company stock valued at $5,177,234. Corporate insiders own 2.85% of the company’s stock.

Exelixis Stock Down 1.8 %

Shares of NASDAQ:EXEL opened at $36.36 on Wednesday. Exelixis, Inc. has a 12 month low of $20.14 and a 12 month high of $40.02. The company’s fifty day simple moving average is $35.48 and its 200 day simple moving average is $32.68. The firm has a market cap of $10.18 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. Research analysts expect that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Exelixis 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.