Exelixis, Inc. (NASDAQ:EXEL) Shares Sold by Commerce Bank

Commerce Bank decreased its position in Exelixis, Inc. (NASDAQ:EXEL) by 16.9% during the 3rd quarter, Holdings Channel reports. The fund owned 188,298 shares of the biotechnology company’s stock after selling 38,408 shares during the quarter. Commerce Bank’s holdings in Exelixis were worth $4,886,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of EXEL. LSV Asset Management raised its holdings in Exelixis by 107.7% during the second quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock worth $129,511,000 after purchasing an additional 2,989,021 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in Exelixis by 124.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock worth $46,473,000 after buying an additional 991,494 shares during the last quarter. Swedbank AB acquired a new position in Exelixis during the first quarter worth approximately $22,455,000. Farallon Capital Management LLC raised its position in shares of Exelixis by 1.6% in the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock worth $608,993,000 after buying an additional 424,000 shares during the period. Finally, AQR Capital Management LLC increased its position in Exelixis by 12.7% during the 2nd quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock worth $73,425,000 after purchasing an additional 370,199 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Exelixis Price Performance

Shares of Exelixis stock opened at $34.83 on Friday. The business’s 50 day simple moving average is $29.72 and its two-hundred day simple moving average is $25.48. The stock has a market capitalization of $9.95 billion, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 0.87 and a beta of 0.51. Exelixis, Inc. has a one year low of $19.20 and a one year high of $36.60.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The business had revenue of $539.50 million for the quarter, compared to the consensus estimate of $490.31 million. During the same period in the previous year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. Sell-side analysts expect that Exelixis, Inc. will post 1.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on EXEL. Guggenheim boosted their price objective on shares of Exelixis from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. The Goldman Sachs Group raised shares of Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. HC Wainwright reiterated a “buy” rating and issued a $29.00 target price on shares of Exelixis in a research report on Wednesday, September 18th. Morgan Stanley lifted their price target on Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. Finally, Oppenheimer reissued an “outperform” rating and set a $29.00 target price on shares of Exelixis in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.44.

Insider Buying and Selling

In other news, EVP Jeffrey Hessekiel sold 20,000 shares of Exelixis stock in a transaction on Monday, August 26th. The stock was sold at an average price of $25.79, for a total transaction of $515,800.00. Following the completion of the sale, the executive vice president now directly owns 630,325 shares in the company, valued at approximately $16,256,081.75. This trade represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George Poste sold 30,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $34.00, for a total transaction of $1,020,000.00. Following the completion of the sale, the director now directly owns 169,020 shares of the company’s stock, valued at approximately $5,746,680. This trade represents a 15.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 289,736 shares of company stock valued at $9,471,510. Company insiders own 2.85% of the company’s stock.

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.