Massachusetts Financial Services Co. MA Sells 92,125 Shares of Exelixis, Inc. $EXEL

Massachusetts Financial Services Co. MA trimmed its stake in Exelixis, Inc. (NASDAQ:EXEL) by 16.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 457,187 shares of the biotechnology company’s stock after selling 92,125 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Exelixis were worth $20,039,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in EXEL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Exelixis by 81.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,181 shares of the biotechnology company’s stock worth $1,592,000 after acquiring an additional 19,407 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Exelixis by 4.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company’s stock worth $54,153,000 after acquiring an additional 68,133 shares in the last quarter. Focus Partners Wealth raised its position in shares of Exelixis by 83.4% in the 1st quarter. Focus Partners Wealth now owns 38,458 shares of the biotechnology company’s stock worth $1,420,000 after acquiring an additional 17,483 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Exelixis by 134.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company’s stock worth $61,000 after acquiring an additional 944 shares in the last quarter. Finally, Sivia Capital Partners LLC grew its stake in Exelixis by 23.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 14,362 shares of the biotechnology company’s stock worth $633,000 after buying an additional 2,764 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

Exelixis Stock Performance

Exelixis stock opened at $44.38 on Friday. The business’s 50-day simple moving average is $43.03 and its two-hundred day simple moving average is $42.41. The company has a market cap of $11.53 billion, a PE ratio of 16.02, a PEG ratio of 0.99 and a beta of 0.42. Exelixis, Inc. has a fifty-two week low of $33.76 and a fifty-two week high of $49.62.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.20. The business had revenue of $598.66 million for the quarter, compared to the consensus estimate of $609.17 million. Exelixis had a return on equity of 36.29% and a net margin of 33.73%.The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.55 EPS. As a group, analysts predict that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on EXEL shares. Truist Financial upgraded Exelixis to a “strong-buy” rating in a research note on Wednesday, March 25th. Stifel Nicolaus boosted their price target on Exelixis from $43.00 to $44.00 and gave the stock a “hold” rating in a research note on Wednesday, February 11th. Bank of America lowered Exelixis from a “neutral” rating to an “underperform” rating and set a $41.00 price target on the stock. in a research note on Monday, January 5th. Barclays boosted their price target on Exelixis from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 4th. Finally, Morgan Stanley boosted their price target on Exelixis from $48.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $46.94.

Insider Buying and Selling at Exelixis

In other Exelixis news, Director Jack L. Wyszomierski sold 99,574 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $44.01, for a total transaction of $4,382,251.74. Following the sale, the director owned 279,942 shares in the company, valued at approximately $12,320,247.42. The trade was a 26.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Brenda Hefti sold 18,669 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $44.01, for a total value of $821,622.69. Following the sale, the senior vice president owned 96,512 shares in the company, valued at approximately $4,247,493.12. The trade was a 16.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 362,849 shares of company stock worth $15,917,463. 2.82% of the stock is owned by corporate insiders.

Exelixis Company Profile

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.