ClariVest Asset Management LLC reduced its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 14.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 39,800 shares of the biotechnology company’s stock after selling 6,900 shares during the quarter. ClariVest Asset Management LLC’s holdings in Exelixis were worth $856,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of EXEL. James Investment Research Inc. bought a new stake in Exelixis in the second quarter worth approximately $133,000. TLP Group LLC bought a new stake in Exelixis in the first quarter worth approximately $179,000. Washington Trust Bank bought a new stake in Exelixis in the second quarter worth approximately $213,000. Massachusetts Financial Services Co. MA bought a new stake in Exelixis in the first quarter worth approximately $215,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in Exelixis in the second quarter worth approximately $217,000. Institutional investors and hedge funds own 80.94% of the company’s stock.
EXEL has been the subject of a number of research analyst reports. Cann reiterated a “buy” rating and issued a $40.00 target price on shares of Exelixis in a report on Wednesday, May 30th. Needham & Company LLC lowered their target price on Exelixis from $33.00 to $30.00 and set a “buy” rating for the company in a report on Friday, May 11th. Zacks Investment Research downgraded Exelixis from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 15th. ValuEngine upgraded Exelixis from a “sell” rating to a “hold” rating in a report on Saturday, June 2nd. Finally, Stifel Nicolaus lowered their target price on Exelixis from $29.00 to $25.00 and set a “hold” rating for the company in a report on Wednesday, August 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $32.67.
In other news, CMO Gisela Schwab sold 22,500 shares of the business’s stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $21.20, for a total transaction of $477,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Morrissey sold 234,267 shares of the business’s stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $21.04, for a total value of $4,928,977.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 714,128 shares of company stock valued at $14,496,195. Corporate insiders own 4.80% of the company’s stock.
NASDAQ EXEL opened at $18.55 on Friday. The company has a market cap of $5.64 billion, a PE ratio of 36.37 and a beta of 1.96. Exelixis, Inc. has a 52 week low of $16.90 and a 52 week high of $32.50.
Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Wednesday, August 1st. The biotechnology company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.12. The firm had revenue of $186.10 million during the quarter, compared to the consensus estimate of $157.37 million. Exelixis had a return on equity of 65.68% and a net margin of 48.17%. The company’s quarterly revenue was up 88.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.06 earnings per share. sell-side analysts expect that Exelixis, Inc. will post 1.03 EPS for the current year.
Exelixis Company Profile
Exelixis, Inc, a biotechnology company, engages in the discovery, development, and commercialization of new medicines to enhance care and outcomes for people with cancer. The company's products include 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 patients with progressive and metastatic medullary thyroid cancer.
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