Exelixis, Inc. $EXEL Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 7.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,201,307 shares of the biotechnology company’s stock after selling 90,710 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Exelixis were worth $65,363,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Van ECK Associates Corp increased its stake in Exelixis by 0.9% during the 2nd quarter. Van ECK Associates Corp now owns 262,281 shares of the biotechnology company’s stock valued at $14,271,000 after buying an additional 2,234 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Exelixis by 31.0% in the second quarter. Wellington Management Group LLP now owns 107,573 shares of the biotechnology company’s stock valued at $5,853,000 after acquiring an additional 25,481 shares in the last quarter. Beacon Pointe Advisors LLC increased its stake in shares of Exelixis by 28.7% during the second quarter. Beacon Pointe Advisors LLC now owns 7,240 shares of the biotechnology company’s stock valued at $394,000 after acquiring an additional 1,614 shares during the period. Caitlin John LLC bought a new stake in Exelixis during the second quarter worth approximately $668,000. Finally, Transamerica Financial Advisors LLC lifted its position in Exelixis by 41.7% in the second quarter. Transamerica Financial Advisors LLC now owns 4,673 shares of the biotechnology company’s stock worth $254,000 after purchasing an additional 1,376 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on EXEL. Wall Street Zen cut Exelixis from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Royal Bank Of Canada lifted their target price on Exelixis from $43.00 to $46.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 7th. Morgan Stanley upped their price target on shares of Exelixis from $50.00 to $53.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Barclays lifted their price target on shares of Exelixis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 14th. Finally, Zacks Research lowered Exelixis from a “hold” rating to a “strong sell” rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $50.07.

Exelixis Stock Performance

Exelixis stock opened at $58.53 on Thursday. Exelixis, Inc. has a twelve month low of $33.76 and a twelve month high of $59.11. The firm has a market cap of $14.50 billion, a PE ratio of 18.41, a P/E/G ratio of 1.69 and a beta of 0.42. The firm’s 50 day moving average price is $54.86 and its two-hundred day moving average price is $49.33.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The business had revenue of $628.69 million for the quarter, compared to analysts’ expectations of $636.40 million. During the same period in the previous year, the company posted $0.75 EPS. Exelixis’s revenue was up 10.6% on a year-over-year basis. Equities analysts anticipate that Exelixis, Inc. will post 3.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mary C. Beckerle sold 9,812 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $53.66, for a total transaction of $526,511.92. Following the completion of the sale, the director directly owned 16,079 shares of the company’s stock, valued at $862,799.14. This trade represents a 37.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.60% of the stock is currently owned by 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.