Pacer Advisors Inc. Reduces Stake in Exelixis, Inc. (NASDAQ:EXEL)

Pacer Advisors Inc. cut its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 0.6% during the fourth quarter, HoldingsChannel reports. The firm owned 65,490 shares of the biotechnology company’s stock after selling 408 shares during the quarter. Pacer Advisors Inc.’s holdings in Exelixis were worth $2,181,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of EXEL. MassMutual Private Wealth & Trust FSB increased its position in shares of Exelixis by 18.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,890 shares of the biotechnology company’s stock valued at $63,000 after purchasing an additional 290 shares during the last quarter. Covestor Ltd boosted its stake in Exelixis by 5.7% during the third quarter. Covestor Ltd now owns 6,335 shares of the biotechnology company’s stock worth $164,000 after buying an additional 341 shares during the period. Fifth Third Bancorp increased its position in Exelixis by 16.1% during the fourth quarter. Fifth Third Bancorp now owns 3,231 shares of the biotechnology company’s stock valued at $108,000 after acquiring an additional 449 shares during the last quarter. Creative Planning raised its stake in shares of Exelixis by 0.8% in the second quarter. Creative Planning now owns 71,700 shares of the biotechnology company’s stock valued at $1,611,000 after acquiring an additional 548 shares during the period. Finally, UMB Bank n.a. lifted its holdings in shares of Exelixis by 68.4% in the 4th quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 553 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

Exelixis Stock Up 0.7 %

Exelixis stock opened at $33.15 on Friday. The firm has a market cap of $9.47 billion, a P/E ratio of 21.25, a P/E/G ratio of 0.72 and a beta of 0.53. The business has a fifty day moving average of $34.68 and a two-hundred day moving average of $30.08. Exelixis, Inc. has a twelve month low of $20.01 and a twelve month high of $37.59.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The company had revenue of $539.50 million for the quarter, compared to the consensus estimate of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 earnings per share. Equities analysts expect that Exelixis, Inc. will post 1.74 earnings per share for the current year.

Insider Buying and Selling at Exelixis

In other news, EVP Dana Aftab sold 96,986 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $35.00, for a total transaction of $3,394,510.00. Following the transaction, the executive vice president now directly owns 498,945 shares of the company’s stock, valued at approximately $17,463,075. This represents a 16.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Patrick J. Haley sold 41,588 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.36, for a total value of $1,428,963.68. Following the completion of the sale, the executive vice president now directly owns 288,665 shares of the company’s stock, valued at $9,918,529.40. The trade was a 12.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 208,574 shares of company stock valued at $7,376,374. 2.85% of the stock is currently owned by insiders.

Analysts Set New Price Targets

EXEL has been the topic of several analyst reports. Truist Financial upped their price target on shares of Exelixis from $42.00 to $43.00 and gave the company a “buy” rating in a report on Monday, January 27th. Oppenheimer cut Exelixis from an “outperform” rating to a “market perform” rating and cut their target price for the company from $41.00 to $33.00 in a research note on Friday, January 24th. BMO Capital Markets lowered Exelixis from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $36.00 to $40.00 in a research note on Friday, December 20th. Brookline Capital Management began coverage on Exelixis in a research report on Monday, December 23rd. They issued a “buy” rating on the stock. Finally, The Goldman Sachs Group upgraded Exelixis to a “strong sell” rating in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.06.

About Exelixis

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.