Fmr LLC Lowers Holdings in Exelixis, Inc. (EXEL)

Fmr LLC lessened its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 13.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,317,889 shares of the biotechnology company’s stock after selling 3,328,047 shares during the period. Fmr LLC owned about 0.07% of Exelixis worth $419,323,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Nordea Investment Management AB increased its holdings in Exelixis by 18.9% during the 4th quarter. Nordea Investment Management AB now owns 264,435 shares of the biotechnology company’s stock worth $5,201,000 after purchasing an additional 41,955 shares in the last quarter. Penn Capital Management Co. Inc. increased its holdings in Exelixis by 1,551.5% during the 4th quarter. Penn Capital Management Co. Inc. now owns 555,646 shares of the biotechnology company’s stock worth $13,519,000 after purchasing an additional 522,002 shares in the last quarter. Advisory Services Network LLC increased its holdings in Exelixis by 1,903.2% during the 4th quarter. Advisory Services Network LLC now owns 9,515 shares of the biotechnology company’s stock worth $187,000 after purchasing an additional 9,040 shares in the last quarter. Amalgamated Bank increased its holdings in Exelixis by 60.1% during the 4th quarter. Amalgamated Bank now owns 68,537 shares of the biotechnology company’s stock worth $1,348,000 after purchasing an additional 25,740 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in Exelixis by 97.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 263,514 shares of the biotechnology company’s stock worth $5,183,000 after purchasing an additional 129,749 shares in the last quarter. Hedge funds and other institutional investors own 76.25% of the company’s stock.

In related news, Director George A. Scangos sold 39,904 shares of the firm’s stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $19.64, for a total value of $783,714.56. Following the completion of the sale, the director now directly owns 1,452,331 shares in the company, valued at approximately $28,523,780.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Morrissey sold 40,000 shares of the firm’s stock in a transaction dated Friday, January 4th. The shares were sold at an average price of $20.11, for a total transaction of $804,400.00. The disclosure for this sale can be found here. Insiders sold a total of 1,006,432 shares of company stock valued at $22,474,531 over the last quarter. 4.80% of the stock is currently owned by company insiders.

EXEL has been the subject of several analyst reports. TheStreet upgraded Exelixis from a “c+” rating to a “b-” rating in a report on Monday, December 17th. Zacks Investment Research upgraded Exelixis from a “strong sell” rating to a “hold” rating in a report on Monday, March 4th. ValuEngine upgraded Exelixis from a “sell” rating to a “hold” rating in a report on Wednesday, January 9th. Morgan Stanley upgraded Exelixis from an “underweight” rating to an “equal weight” rating and set a $24.80 price objective for the company in a report on Monday, March 18th. Finally, BMO Capital Markets initiated coverage on Exelixis in a report on Friday, February 22nd. They issued a “market perform” rating and a $23.00 price objective for the company. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Exelixis has a consensus rating of “Buy” and an average price target of $29.78.

Shares of NASDAQ EXEL opened at $24.30 on Tuesday. The stock has a market capitalization of $7.29 billion, a PE ratio of 16.99, a P/E/G ratio of 0.48 and a beta of 2.21. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.50 and a quick ratio of 8.41. Exelixis, Inc. has a fifty-two week low of $13.42 and a fifty-two week high of $25.31.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, February 12th. The biotechnology company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.14. Exelixis had a return on equity of 48.90% and a net margin of 80.95%. The company had revenue of $228.60 million during the quarter, compared to analysts’ expectations of $188.44 million. During the same quarter last year, the company earned $0.12 EPS. Exelixis’s revenue for the quarter was up 90.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Exelixis, Inc. will post 1.08 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This report was first posted by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this report on another website, it was stolen and reposted in violation of U.S. and international trademark & copyright legislation. The legal version of this report can be accessed at https://sportsperspectives.com/2019/04/02/fmr-llc-lowers-holdings-in-exelixis-inc-exel.html.

Exelixis Company Profile

Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. 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.

Read More: What is a front-end load?

Want to see what other hedge funds are holding EXEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Exelixis, Inc. (NASDAQ:EXEL).

Institutional Ownership by Quarter for Exelixis (NASDAQ:EXEL)

Receive News & Ratings for Exelixis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exelixis and related companies with MarketBeat.com's FREE daily email newsletter.