Polaris Capital Management LLC Sells 16,900 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Polaris Capital Management LLC cut its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 27.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,000 shares of the biotechnology company’s stock after selling 16,900 shares during the period. Polaris Capital Management LLC’s holdings in Exelixis were worth $1,498,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in EXEL. V Square Quantitative Management LLC purchased a new position in shares of Exelixis in the 3rd quarter worth about $30,000. USA Financial Formulas bought a new stake in Exelixis during the fourth quarter valued at approximately $32,000. Brooklyn Investment Group purchased a new position in Exelixis in the third quarter worth $42,000. UMB Bank n.a. increased its position in shares of Exelixis by 68.4% during the 4th quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 553 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Exelixis during the third quarter worth approximately $61,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on EXEL shares. The Goldman Sachs Group raised Exelixis to a “strong sell” rating in a research note on Tuesday, October 15th. Morgan Stanley raised Exelixis from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $30.00 to $40.00 in a research report on Monday, January 27th. Piper Sandler lifted their target price on Exelixis from $36.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Stifel Nicolaus lifted their target price on shares of Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Finally, UBS Group boosted their target price on shares of Exelixis from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $36.06.

Exelixis Stock Performance

Shares of EXEL opened at $33.50 on Tuesday. Exelixis, Inc. has a 1 year low of $20.01 and a 1 year high of $37.59. The stock has a market capitalization of $9.57 billion, a PE ratio of 21.47, a PEG ratio of 0.63 and a beta of 0.53. The stock has a 50-day simple moving average of $34.35 and a 200-day simple moving average of $30.64.

Insider Buying and Selling

In other Exelixis news, EVP Patrick J. Haley sold 41,588 shares of Exelixis stock in a transaction that occurred 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 sale, the executive vice president now owns 288,665 shares of the company’s stock, valued at approximately $9,918,529.40. The trade was a 12.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the sale, the executive vice president now owns 486,059 shares in the company, valued at $17,823,783.53. The trade was a 10.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 111,588 shares of company stock worth $3,981,864 in the last ninety days. 2.85% of the stock is owned by corporate insiders.

Exelixis Profile

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.