Geode Capital Management LLC trimmed its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,441,842 shares of the biotechnology company’s stock after selling 16,889 shares during the period. Geode Capital Management LLC’s holdings in Exelixis were worth $74,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also made changes to their positions in the company. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Exelixis in the 3rd quarter valued at $120,000. Sigma Planning Corp acquired a new position in shares of Exelixis in the 4th quarter valued at $208,000. American International Group Inc. purchased a new position in Exelixis in the 4th quarter valued at $208,000. Klingenstein Fields & Co. LLC purchased a new position in Exelixis in the 4th quarter valued at $213,000. Finally, Globeflex Capital L P purchased a new position in Exelixis in the 4th quarter valued at $246,000. 80.55% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently weighed in on EXEL. BidaskClub upgraded shares of Exelixis from a “hold” rating to a “buy” rating in a research report on Friday, January 5th. Cann reiterated a “hold” rating on shares of Exelixis in a research report on Thursday, January 4th. Oppenheimer reiterated a “hold” rating on shares of Exelixis in a research report on Thursday, January 4th. Zacks Investment Research upgraded shares of Exelixis from a “hold” rating to a “strong-buy” rating and set a $35.00 price objective on the stock in a research report on Tuesday, January 2nd. Finally, UBS Group upgraded shares of Exelixis from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 27th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $34.10.
Shares of Exelixis, Inc. (NASDAQ EXEL) opened at $24.80 on Wednesday. The company has a market cap of $7,354.35, a price-to-earnings ratio of 48.67, a price-to-earnings-growth ratio of 1.35 and a beta of 1.96. Exelixis, Inc. has a 1 year low of $18.03 and a 1 year high of $32.50.
Exelixis (NASDAQ:EXEL) last issued its earnings results on Monday, February 26th. The biotechnology company reported $0.12 EPS for the quarter, hitting the consensus estimate of $0.12. The company had revenue of $120.10 million for the quarter, compared to analyst estimates of $120.25 million. Exelixis had a net margin of 34.08% and a return on equity of 81.05%. The business’s revenue was up 54.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.12 EPS. analysts forecast that Exelixis, Inc. will post 0.57 EPS for the current year.
Exelixis Company Profile
Exelixis, Inc is a biopharmaceutical company. The Company is focused on discovery, development and commercialization of new medicines to manage care and outcomes for people with cancer. The Company’s cabozantinib product is an inhibitor of multiple tyrosine kinases, including MET, AXL, and VEGF receptors.
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