Rhumbline Advisers Decreases Stake in Exelixis, Inc. $EXEL

Rhumbline Advisers lessened its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 3.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 749,216 shares of the biotechnology company’s stock after selling 27,580 shares during the quarter. Rhumbline Advisers’ holdings in Exelixis were worth $30,943,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. AQR Capital Management LLC grew its holdings in shares of Exelixis by 10.3% in the second quarter. AQR Capital Management LLC now owns 7,606,079 shares of the biotechnology company’s stock valued at $335,238,000 after purchasing an additional 712,190 shares in the last quarter. Geode Capital Management LLC lifted its position in Exelixis by 0.4% during the second quarter. Geode Capital Management LLC now owns 7,445,469 shares of the biotechnology company’s stock valued at $328,196,000 after purchasing an additional 28,289 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Exelixis by 42.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,262,643 shares of the biotechnology company’s stock worth $231,951,000 after buying an additional 1,580,567 shares in the last quarter. Qube Research & Technologies Ltd increased its holdings in shares of Exelixis by 120.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 3,047,222 shares of the biotechnology company’s stock worth $134,306,000 after buying an additional 1,665,110 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Exelixis during the 2nd quarter valued at about $122,099,000. Institutional investors own 85.27% of the company’s stock.

Exelixis Stock Up 2.9%

EXEL stock opened at $43.92 on Monday. Exelixis, Inc. has a twelve month low of $32.38 and a twelve month high of $49.62. The firm has a market cap of $11.41 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 0.99 and a beta of 0.42. The business’s fifty day simple moving average is $43.62 and its two-hundred day simple moving average is $41.00.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, February 10th. The biotechnology company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.20. The firm had revenue of $598.66 million for the quarter, compared to analysts’ expectations of $609.17 million. Exelixis had a net margin of 33.73% and a return on equity of 36.29%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 earnings per share. Research analysts expect that Exelixis, Inc. will post 2.04 EPS for the current year.

Analyst Ratings Changes

EXEL has been the subject of several recent research reports. Wells Fargo & Company lifted their price target on Exelixis from $30.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 11th. Oppenheimer reaffirmed a “market perform” rating and issued a $36.00 price objective on shares of Exelixis in a research note on Wednesday, November 5th. TD Cowen reiterated a “buy” rating on shares of Exelixis in a report on Wednesday, November 5th. Stifel Nicolaus increased their price target on Exelixis from $43.00 to $44.00 and gave the company a “hold” rating in a report on Wednesday. Finally, Citigroup downgraded Exelixis from a “market outperform” rating to an “underperform” rating in a research report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $47.11.

Insider Buying and Selling

In other news, EVP Patrick J. Haley sold 34,187 shares of Exelixis stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $41.88, for a total transaction of $1,431,751.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have sold 72,230 shares of company stock valued at $3,046,923. 2.85% of the stock is owned by corporate insiders.

About Exelixis

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.